Mobile Transaction Terminal (MTT) Revolutionizes Mobile Payment Processing

Strategic Insights -

WAY Systems, Inc. and SecurePay, Inc. have jointly announced the availability of the Mobile Transaction Terminal (MTT) in the US market, leveraging next-generation General Packet Radio Service (GPRS) wireless networks to provide secure and cost-effective payment card transaction processing. The MTT solution, featuring a mobile thermal printer, activated wireless data plan, and merchant payment processing using SecurePay's Payment Gateway, has already garnered interest from leading ISOs affiliated with SecurePay.

With over 100,000 merchants currently using wireless POS in the US, WAY Systems and SecurePay estimate that this number will triple in the next three years due to the growth of GPRS and 2.5G networks. The MTT solution is ideal for mobile merchants who need to accept credit cards, offering a low-cost "data only" plan that is particularly in demand by the delivery industry.

Key Takeaways:

  • The Mobile Transaction Terminal (MTT) is a packaged solution that includes a mobile thermal printer, an activated wireless data plan, and merchant payment processing using SecurePay's Payment Gateway.
  • MTT is the industry's first 'out-of-the-box' packaged solution, leveraging next-generation GPRS wireless networks for secure payment card transaction processing.
  • The solution has already generated interest from over 100 ISOs affiliated with SecurePay, with more than 100,000 merchants currently using wireless POS in the US.
  • WAY Systems and SecurePay estimate that this number will triple in the next three years due to the growth of GPRS and 2.5G networks.
  • MTT offers a low-cost "data only" plan that is particularly in demand by the delivery industry.
  • SecurePay provides real-time payment processing and is certified for use with Vital, Nova Information Systems, and Buypass/Concord EFS.
  • The SecurePay Gateway offers CPS retail qualified transactions, real-time authorizations, and reporting, as well as data security through SSL encryption and a Web terminal for additional processing options.
  • WAY Systems has segmented the wireless mobile market into three categories, with MTT targeted at mobile merchants who need to accept credit cards.

Statistics:

  • Over 100,000 merchants are currently using wireless POS in the US.
  • WAY Systems and SecurePay estimate that this number will triple in the next three years.
  • MTT offers a low-cost "data only" plan for as low as [insert cost].
  • GPRS and 2.5G networks are expected to drive growth in wireless POS terminals in the US.
  • SecurePay's Payment Gateway processes [insert number] transactions per month.
  • WAY Systems has partnerships with over [insert number] ISOs.

Sources:

  • WAY Systems, Inc. press release, April 21, 2003
  • SecurePay, Inc. press release, April 21, 2003
  • WAY Systems, Inc. website: http://www.waysystems.com/
  • SecurePay, Inc. website: http://www.securepay.com/