JSE-listed Beget Holdings has acquired from Leaf Wireless the exclusive distribution rights to market a wireless all-in-one point-of-sale, mini-ATM and voucher device.
Beget says Intellect Aero is a portable device that uses global packet radio switching (GPRS) to carry out debit and credit card transactions faster than landlines or any other current communications methods, remaining online and active at all times.
Additional function capabilities include purchasing of prepaid airtime, payment of telephone or water and light accounts, as a cashless ATM or voucher dispenser. Many more functions can be incorporated, it says.
The deal centres on the financial and banking sectors, which need to upgrade their ATM and point-of-sale terminals to comply with the new EMV (Europay, MasterCard, Visa) international card standard that comes into effect early in 2005. EMV sees a chip-based smart card system replace the magnetic-stripe card.
Beget MD Andr'e Potgieter says there are 130 000 point-of-sale (POS) terminals in SA that need to be upgraded. "These are only the figures for the formal sector. The potential for wireless mobile ATMs and POS to create a cashless environment for the informal market extends to an estimated 250 000 units covering street hawkers, flea market vendors, repair services and for fund-raising events such as f^etes and bazaars."
Intellect Aero is EMV-compliant and also links up to company networks, point-of-sales systems and loyalty schemes.
Beget`s core business experience is in GSM product application software, middleware and firmware technology development and thin client Internet solutions.
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