Retail, Foodservice and Vending Markets to Benefit from Debitek and Peppercoin
Card-Enabled System for Small Transaction Acceptance
WALTHAM, Mass., April 4 /PRNewswire/ -- Peppercoin, a payments company
that enables profitable new business models for low-priced digital content and
physical goods, and Ingenico, the world's leading provider of secure
transaction solutions, today announced a partnership to offer a complete small
payments solution for merchants. With Peppercoin's Small Transaction Suite,
merchants can accept credit and debit cards for small payments, resulting in
new revenue streams, new customers and reduced transaction costs.
With 7.5 million payment terminals installed in over 90 countries,
Ingenico devices process billions of transactions annually. For U.S.
merchants, Ingenico and Peppercoin are integrating Peppercoin's small payment
service with Ingenico's Debitek payment systems. Peppercoin's Small
Transaction Suite enables merchants to accept consumer credit and debit cards
for small ticket transactions. By providing the flexibility to offer pay-as-
you-go, pre-paid, and post-paid transaction acceptance, Peppercoin enables
merchants to maximize revenues. And it does so in a way that optimizes
profitability by minimizing transaction processing and customer service costs.
The partnership allows merchants of all types to capitalize on the growing
consumer preference to use credit and debit cards for small purchases.
Affordable for merchants, the solution lets consumers use cards for small
payments in addition to cash, at locations such as vending machines.
Additionally, "closed" card networks such as college campuses, cruise ships
and correctional institutions that employ Ingenico's Debitek MoneyClip
solution will now be able to accept consumers' existing debit and credit
cards.
"As a world leader in payments systems, Ingenico is committed to
developing innovative solutions for merchants. We sought a relationship with
Peppercoin as they offer the most consumer and merchant friendly small payment
solution available today," stated Larry Hauser, general manager of Ingencio's
Debitek group. "Our joint solution creates new opportunities in key markets
previously dominated by cash transactions including vending, Quick Service
Restaurants (QSR), food service, laundry and coin-operated entertainment."
Significant Market Opportunity
Consumers are demonstrating a clear and growing preference to use their
credit and debit cards for all sizes and types of purchases. In a 2004 study,
Ipsos-Insight estimated that roughly 37.5 million U.S. consumers would choose
to use their credit and debit cards for transactions below $5. Each year,
consumers make more than 354 billion transactions of less than $5,
representing $1.32 trillion in aggregate revenue. This presents a significant
growth opportunity for the credit and debit card market.
"Leading financial services and payments infrastructure providers, such as
Ingenico, are voting," said Mark Friedman, president of Peppercoin.
"Peppercoin is the vendor best positioned to enable their success in the
exploding small tickets market."
About Ingenico
With a 26% market share, Ingenico is the world's largest provider of
secure payment and transaction systems used by banking, retail, petroleum,
transportation, healthcare and governments to ensure the secure acceptance and
flow of electronic commerce. The Company's 1300 employees as well as network
of subsidiaries, partners and distributors make it simple, fast and safe to
purchase goods and services anywhere in the world.
Annually Ingenico dedicates more than 8% of its revenue to research and
development of new payment systems providing ever increasing performance and
security. These payment systems, based on the UNICAPT(TM) 32 architecture and
EMV smart card standards, leverage technologies such as biometry, touchscreen
technology, GPRS communications and Bluetooth(TM) to deliver cost effective
performance. Ingenico's continual technological and commercial development of
applications for purchasing card systems, e-procedures, prepaid systems and
electronic transaction management provide solutions for markets that demand
optimal security (Visa PED) and efficiency. Ingenico is also engaged in a
large number of emerging markets such as electronic identity control, health
cards, logistic traceability and many others. For more information about
Ingenico, visit their web site at http://www.ingenico-us.com.
About Peppercoin, Inc.
Peppercoin enables profitable new business models for low-priced digital
content and physical goods. Peppercoin's small payment products help
merchants, banks, and other payments companies build market adoption quickly
through a flexible, consumer-friendly approach. Peppercoin integrates easily
with existing business models and systems to accelerate revenues and increase
profits while dramatically lowering transaction and customer service costs.
For more information visit http://www.peppercoin.com.
All trademarks are the property of their respective owners.
Contact:
Mark McClennan or Payal Cudia
Schwartz Communications
781-684-0770
Peppercoin@schwartz-pr.com
Michael English
Director of Marketing and Communications
Ingenico Corp.
(770) 594-6000
info@ingenico-us.com
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SOURCE Peppercoin
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Related links:
http://www.peppercoin.com
CONTACT:
Mark McClennan or Payal Cudia of Schwartz
Communications, +1-781-684-0770, Peppercoin@schwartz-pr.com; or
Michael English, Director of Marketing and Communications of
Ingenico Corp., +1-770-594-6000, info@ingenico-us.com
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