Point-of-Sale Terminals Upgraded To Broaden Their Appeal to Banks

Several companies that provide point-of-sale terminals have recently introduced new equipment that integrates a number of features in a single device.

Such devices are attractive to banks offering payment processing services to retail merchants because the machines are more flexible and allow the merchants to accept different types of payments.

The latest company to follow this trend is Celerex Corp., Redmond, Wash. The company has introduced a point-of-sale terminal capable of handling all types of payments, including checks, credit cards, debit cards, and frequent-shopper cards.

Verification Is Fast

The device uses high-speed processing technology to get transaction verifications in seconds. This enables retailers that traditionally accepted only cash, such as fast-food restaurants and convenience stores, to accept checks and credit cards.

The devices can interface with cash register systems from International Business Machines Corp. and NCR Corp. The terminals can authorize checks and credit cards, process the payments, print an optional receipt, and store the transactions.

The devices are connected to a personal computer that acts as a controller to store verification data known as negative files, transaction data, frequent shopper data, and other information. The information can be assembled into marketing reports and printed out.

Dial-Up Also Available

The controller can also dial up credit card networks for on-line verification. Up to 30 devices can be connected to the controller.

The devices are priced around $600 each, while a controller is about $1,600.

Other companies providing point-of-sale devices have introduced similar systems. Verifone Inc., one of the leading makers of such terminals, introduced a system called Gemstone earlier this year that automates all types of payment transactions on a single device. It combines a cash register, card reader, personal identification number keypad, and other modules.

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