17 June 2004
Braintree awarded $1.7 million to commercialise Axon technology
Leading technology developer Braintree Communications announced today that it has been awarded over $1.7 million to commercialise its wireless Axon terminal adaptors under AusIndustry's R&D Commercialisation Loan program .
Braintree 's Axon technology allows Telco's, 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 its wireless Axon technology throughout Australia and exploit opportunities in the UK , Europe, Middle East and USA . Braintree chief executive Mr Peter Hall said: "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 benefits through dramatic tariff reductions with no line rental charges, faster transaction speeds, remote network management, service bundling opportunities and greater network reliability,” says Mr Hall.
The unique offering from Braintree 's Axon technology is that it drives further life out of existing transaction terminals whilst 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” says Hall.
New connections can installed immediately as there is no provisioning of lines required and t he 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,” says Hall.
Braintree's wireless Axon TA's 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 worlds largest ATM manufacturers and one of Australia 's major banks in a busy retail environment.
Over 4000 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 DSL connections to consolidate EFTPOS and ATM traffic over DSL.
About Braintree Communications
Mr Peter Hall on