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Retailers Get High Speed Online POS Processing

Retailers Get High Speed Online POS Processing

Brick-and-mortar, traditional, physical retail vs. virtual, online, e-commerce. Each method of providing and procuring goods and services has positive and negative points, and many retailers and e-tailers are finding that combining the best of both worlds can benefit their respective bottom lines. Payment processing is one area where traditional merchants can gain from virtual merchants' experiences.

Concord EFS Inc.'s new point-of-sale (POS) payment system allows brick-and-mortar stores to use a secure Internet connection instead of the standard dialup or leased-line connection to authorize card-based payments. Concord's EFSnet gateway acts as a translator between Internet language and payment-processing language, enabling two very dissimilar systems to communicate. EFSnet is directly connected to Concord's payment-processing platform.

EFSnet removes existing barriers of programming, certification and periodic recertification. Based on "Web services" standards and protocols, it includes extensible markup language (XML) and simple object access protocol.

Retail locations that use POS dialup lines are likely to notice the greatest benefits from Concord's Internet POS offering. With EFSnet, an Internet line is always connected, eliminating the six- to eight-second delay they usually experience dialing into the Internet. The stores receive the same processing speed as a dedicated leased-line connection without the expensive installation and maintenance costs associated with it.

The system is a Web services-based solution with flexibility for quick and simple gateway integration with any system, including Concord's processing platform. EFSnet also alleviates the time and cost complications often associated with traditional POS transmission lines.

Gary Arnold, head of Concord's Emerging Technologies Group, said the system was officially launched in November and has been processing Web site e-commerce transactions since July.

"We are building a strong list of applications that will utilize EFSnet. We have seen a 40% growth per month in our merchant base," he said.

Contact Concord EFS Inc. at www.concordefs.com.