Transaction Network Plus Inc., the New York-based card processing unit of Diversifted Investors Corp., has agreed to develop software for Dassault Electronique Inc.'s hand-held point of sale terminal.

Dassault is the American arm of French-based Dassault Automatismes et Telecommunications.

The pro3ect will work to make Dassault's TPC 232 terminal - a fixture at many European retailers, with more than 250,000 installed in France alone - compatible with U.S. card networks.

Stripes and Chips

The terminal accommodates both traditional magnetic stripe cards and cards with embedded computer chips.

Dassault plans to introduce the TPC 232 to the U.S. market in September.

By that time. Transaction expects to have completed work on software that will make the terminal compatible with transaction processing systems at the Northeast's NYCE electronic banking network.

Projects for other networks will Follow.

Dassault officials say its terminal is best suited for applications in restaurants. where debit transactions now are not common.

-- Matt Barthel

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.