Federated Department Stores (Cincinnati) has awarded a contract to @pos (San Jose, Calif.) to develop and install installation debit-ready transaction devices for all of the retailer's 450 store locations.
@pos develops and licenses secure, interactive electronic web-enabled transaction at point-of-sale and point-of-presence — signature capture pads, web-enabled platforms, smart card interfaces and the like.
With the new iPOS 3100 transaction devices at 34,000 point-of-sale locations within Federated's stores, shoppers will be able to pay for transactions with touchscreen PIN pads that provide debit card functionality. Federated says it expects that lower transaction processing costs will help it more-rapidly recoup the estimated $7 million this project will cost. Retailers'debit transaction fees are generally lower than the fees charged for credit-card transactions. Federated says that sales associates will increase their selling time by reducing transaction length and that customers will be offered another convenient payment alternative. In addition, Federated says, it will benefit from @pos'secure transaction technology and PIN security to provide a more secure environment for its customers.
Federated has been offering online debit capabilities in its Macy's Puerto Rico store since October 2000. Rollout of iPOS 3100 devices for the Federated installed base is planned for completion prior to the beginning of the holiday season.
The iPOS 3100 has been in use in point-of-sale technology since 1998. Features contained in the device include signature capture, touch screen PIN entry, built-in magnetic stripe reader and a fully programmable display for customized text and graphics. The terminal integrates with open platform-based transaction systems such as DOS, IBM Flex OS or Windows. RS-232 and RS-485 connectivity options offer maximum flexibility for host system configuration and interfacing to a cash register.
“The iPOS 3100 offers significant opportunities for retailers to reduce transaction processing expenses, meet customer needs by providing flexible payment options and support one-on-one customer interaction,” said @pos ceo Llavan Fernando.