24 September 2004

IP-based payment systems already a reality

In response to the article in Australian Financial Review written by Ben Woodhead, Friday 24 th September 2004 ‘The Future points to IP-based payments'.

Braintree Communications specialises in designing technologies to cost-effectively migrate existing payment systems to IP-based networks.

Braintree 's range of Axon terminal adaptors allow merchants to migrate existing Eftpos pin pads and ATM systems to wireless or broadband IP networks. All this can be achieved in less than 40 seconds.

CEO of Braintree Communications, Peter Hall said Mr Mirabito from Telstra was quoted as estimating that there are only 30,000 IP-ready Eftpos terminals in use in Australia . In actual fact our Axon technology makes all 433,000 EFTPOS terminals currently in Australia IP-ready now.

Mr Hall agreed with Bruce Thompson of Keycorp who said that in the current environment it would require a very significant investment to migrate existing payment systems to IP. That is if it was not for Braintree 's Axon technology.

“There is no need to swap out existing Eftpos pin pads in the merchant's store which would be a very costly exercise for the telco, the bank and the merchant,” Mr Hall said

The Axon technology is a terminal adaptor the size of a modem. It has all the inbuilt intelligence to allow current Eftpos terminals that are not IP compatible to connect to IP networks such as broadband DSL or wireless GPRS.

“Why buy a new Eftpos pin pad to be IP-enabled when the Axon has all the in built intelligence to IP-enable your existing kit?” asked Mr Hall. “The significant cost to upgrade your pin pad terminal is not only limited to the purchase of an expensive new IP terminal but also the down time in migration and the training of staff on the new equipment.”

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 IP-based payment networks.

“Going IP allows merchants to access a wider array of cheaper data and voice services such as voice over IP. There is a business case for merchants to migrate their payment systems to IP as well if they can do it cost effectively with very minimal downtime. They can with the Axon.”

Braintree has already trialed its wireless Axon technology with two of the worlds largest ATM manufacturers and one of Australia 's major banks in a busy retail environment.

Braintree has sold 4000 leased line Axon units that migrate merchants' Eftpos terminals to a wireless GPRS IP network.

About Braintree Communications

Braintree Communications has supplied over 12,000 gateways in Australia that have carried over 60 million transactions. Braintree specialises in the design and development of data communication solutions that allow existing transaction terminals to connect to modern IP networks and transact immediately through embedded intelligent protocol conversion.

Braintree 's primary technology focus is on Short Duration Transaction Networks (SDTN) such as EFT applications like Point-Of-Sale and ATM connectivity, defence communications systems, security systems and financial services.

Braintree has been developing unique solutions since 1990 for clients such as Telstra, Optus, TNS Australia, Boeing, Cashcard and Ericsson.



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