Vital Processing Services announced a full production service offering with Metricom, Inc. Metricom’s Ricochet wireless technology that will enable transactions, such as credit card verification, to be processed in 3 – 4 seconds, without the use of traditional phone lines.
“This is an example of how we proactively respond to our customers’ needs by providing them with value-added products. Our goal is to help our clients operate more efficiently, and this partnership with Metricom will translate into increased productivity at the merchant point-of-sale,” said Fred Gumbel, chairman and chief executive officer of Vital.
“In the near future, customers everywhere will expect lightning-fast credit card verification regardless of their location,” said Don Wood, Metricom president. “The Ricochet wireless technology meets that requirement by enabling merchants and bank institutions to perform real-time transactions quickly, affordably and from places that, traditionally, have been inconvenient or impossible. Now, with Ricochet, delivery services, taxi drivers, street vendors and others will be able to take full advantage of Vital’s processing services from wherever they are within a Ricochet coverage area.”
The Ricochet network uses spread-spectrum, packet radio technology and Metricom’s patented frequency-hopping mesh architecture to transmit wireless signals to the Internet, intranets and dial-up services. Ricochet modems send and receive data at speeds of up to 28.8 kilobits per second, which is comparable to conventional telephone modems. With Ricochet, merchants will experience a 3 – 4 second response time for transactions processed through Vital’s VisaNet POS Network.
For the transaction processing industry, the Ricochet modem attaches to the VeriFone TRANZ 380 terminal via a connective device called the VeriFone TRANZport 232. The Ricochet modem also attaches to the serial port of laptop and desktop computers, handheld PCs or personal digital assistants, and is compatible with most hardware platforms and communications software.
Metricom has completed its first initial roll-out phase and has service available in Seattle, the greater San Francisco Bay area, and Washington, D.C. Other metropolitan areas, such as Los Angeles, are planned for the near future.
Metricom, Inc. is the leading provider of wide-area, portable wireless data services. The company’s Ricochet Products and Services division, headquartered in Los Gratos, Calif., provides portable and desktop computer users with high-performance, cost-effective wireless access to the Internet, LANs, e-mail and other online services. Ricochet service is currently available in the greater San Francisco Bay Area, Seattle, and Washington, D.C., on corporate and university campuses, and ten major U.S. airports. Metricom’s Industrial Communications division provides both private networks and communications services to the electric, gas, oil and water industries. For more information, call 1-800 Go-Wireless or visit Metricom’s Web site at .
Vital Processing Services (Vital) is a leading full-service merchant processing company. Its clients include financial institutions that provide credit card processing to their merchant customers. Headquartered in Tempe, Ariz., Vital offers financial institutions operational services that enhance business solutions without competing for their merchant business. Its services include merchant POS products, electronic authorization and data capture; clearing, settlement and exception processing; merchant accounting, billing, and reporting; operational fulfillment services (including the outsourcing of chargeback and retrieval processing); risk management; and customer service. Vital is a merchant processing joint venture of Visa(R) U.S.A. and Total System Services, Inc.(R) (NYSE: TSS) (TSYS(R)) (). Vital’s Internet address is .Details