HUDSON, Mass. - National Transaction Network Inc., a developer of electronic payment systems, announced that it will soon be reselling check readers and electronic funds transfer terminals for a major supplier, International Verifact Inc.
As a preferred reseller for the Canadian supplier, the company can now provide EFT software, terminals, magnetic ink encoding products, and EFT peripherals to the supermarket industry, its primary market.
"IVI's products are well suited to our strategy of providing the supermarket industry with a one-stop-shopping approach to meeting their payment requirements," said Scott Rich, vice president of marketing at National Transaction Network.
Under the agreement, the company will resell International Verifact's MR2000 CheckReader and recently announced PE4000 Power Encoder. The encoder will be combined with software running on certain EFT controllers to provide on-site automated processing and encoding of checks.
"Supermarkets need integrated check authorization at the cash register to provide better customer service, and decrease risks from fraud," said Mr. Rich. "By providing encoding capabilities at each store, supermarkets can lower the cost of processing checks."