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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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