@pos announced the launch of an initiative to implement online debit capabilities at 34,000 point-of sale-locations within Federated Department Stores, Inc.
This comprehensive rollout calls for the installation of new and enhanced @pos’ debit-ready iPOS 3100 transaction devices for all of Federated’s 450 store locations. The iPOS 3100 already delivers signature capture functionality for Federated and this program will add a virtual pin pad to the device that will allow the addition of online debit functionality. Federated has successfully offered online debit capabilities in its Macy’s Puerto Rico store since October 2000. Rollout of iPOS 3100 devices for the Federated installed base is planned for completion prior to the beginning of the holiday season.
The addition of online debit functionality allows Federated to substantially lower its transaction processing costs for a significant percentage of its transactions — the result is a rapid return on their investment for the estimated $7 million project. Sales associates will increase their selling time by reducing transaction length and customers now have another convenient payment alternative. In addition, Federated benefits from @pos’ secure transaction technology and PIN security to provide a secure environment for its customers.
“The iPOS 3100 offers significant opportunities for retailers to reduce transaction processing expenses, meet customer needs by providing flexible payment options and support one-on-one customer interaction,” said Llavan Fernando, Chief Executive Officer for @pos. “Federated has consistently led the industry by implementing state of the art systems to serve its customers. Our long and successful relationship with this leading retailer has allowed @pos to identify customer requirements early and respond with the technology to meet those needs.”
The iPOS 3100 has been an industry standard in point-of-sale technology since 1998. Features contained in the device include signature capture, touch screen PIN entry, built-in magnetic stripe reader, and a fully programmable display for customized text and graphics. The terminal integrates with open platform-based transaction systems such as DOS, IBM Flex OS or Windows. RS-232 and RS-485 connectivity options offer maximum flexibility for host system configuration and interfacing to a cash register.
@pos (OTC BB:EPOS) is a leader in secure, interactive electronic transaction technologies. The company delivers technologies that include signature capture pads, web-enabled platforms, smart card interfaces, and encryption engines supporting DES and Triple DES, in addition to offering an extensive suite of software tools. @pos currently markets its products to the retail, government and banking segments for applications that include electronic signature capture, debit and credit payments. For more information, see [www.atpos.com], email to firstname.lastname@example.org, or call 408/468-5400.
About Federated Department Stores, Inc.
Federated, with corporate offices in Cincinnati and New York, is one of the nation’s leading department store retailers, with annual sales of more than $18.4 billion. Federated currently operates more than 450 stores in 34 states, Guam and Puerto Rico under the names of Macy’s, Bloomingdale’s, The Bon Marche, Burdines, Goldsmith’s, Lazarus and Rich’s, as well as macys.com, bloomingdales.com and Bloomingdale’s By Mail. Federated also operates the Fingerhut catalog and e-commerce subsidiary. Additional information is available online at [www.federated-fds.com].