Braintree dials up $1.7m R&D Grant - QLD Business Review
Brisbane-based technology developer Braintree Communications has been awarded more than $1.7 million to commercialise its wireless Axon terminal adaptors under AusIndustry's R&D Commercialisation Loan program.
The company's Axon technology allows telcos, banks, merchants and terminal manufacturers to migrate existing EFTPoS and ATM equipment seamlessly and immediately to wireless networks.
Braintree aims to use the loan to commercialise the technology throughout Australia and exploit opportunities in the UK, Europe, Middle East and the US.
CEO Peter Hall says: "Anywhere there is a GPRS or CDMA network the Axon can be used to carry ATM and EFTPoS transactions, providing global opportunities for Braintree's technology."
The Axon terminal adaptors send financial transaction data across the same networks that most Australian mobile phones use for voice and SMS traffic.
"Braintree's Axon TA range replaces fixed-line EFTPoS and ATM networks with wireless connectivity. The stakeholders in the financial transactions industry benefit through dramatic tariff reductions with no line rental charges, faster transaction speeds, remote network management, service bundling opportunities and greater network reliability," he says.
This drives further life out of existing transaction terminals while at the same time upgrading merchants to modern wireless networks.
"Simply replace the phone socket in the wall with an Axon TA and your wireless enabled. There is no need for merchants to upgrade any of their equipment," Hall says.
New connections can be installed immediately as there is no provisioning of lines required and the embedded intelligence provides fully automated configuration.
When the Axon is powered up it connects to the central network management system via the SIM card and automatically downloads and configures itself.
"It is so simple that the bank or telco can even mail an Axon unit to the merchant's store if they want to. The store owner can plug the Axon in and away they go," he says.
Braintree's wireless Axon TAs enable temporary point-of-sale locations during busy trading periods to cope with extra foot traffic or for events such as trade shows, exhibitions, kiosks, mobile service centres or remote locations where fixed line connections are too costly or slow. Using Braintree's technology, EFTPoS and ATM terminals no longer have to dial a connection to a bank as the connection is always on. This significantly reduces transaction processing times, which mean less time waiting in supermarket queues.
Braintree has already successfully trialed its Axon technology with two of the world's largest ATM manufacturers and one of Australia's major banks in a busy retail environment.
Over 4,000 units of Braintree's leased line GPRS variant, the Axon 4020, will be deployed domestically over the next couple of months.
Braintree is also conducting proof of concepts of its Axon terminal adaptor to cater for merchants with digital subscriber line (DSL) connections to consolidate EFTPoS and ATM traffic over DSL.