Logtek has entered into an agreement to manufacture internal printed circuit boards as well as assemble the sub-assemblies of self service terminals (SST's) for Prism Payment Technologies. The SST's utilise smart-card and magnetic card technology, combined with a keypad, to enable the processing of electronic payment transactions. The terminals can be used in almost any application where a man machine interface is required to perform electronic fund transfers.
Peter Fuller, general manager for Prism Payment Technologies, Cape Town says, "The market for smart-cards is expanding at a tremendous rate, lending itself to a broad spectrum of applications from pre-payment telephone cards and parking to vending and self-service petrol dispensing. Prism and Logtek are already involved in a joint venture for the manufacture of pre-payment electricity vending systems so it was natural that we chose them to undertake our SST requirements. As an ISO 9001 facility with the experience and manufacturing capabilities for electronic and electro-mechanical equipment, the company will be able to provide reliable, high quality products to meet the increasing demand for card-based commerce."
The SST is similar to an ATM in that it can be interfaced to a bank to provide account balances. The data can be displayed on the unit's LCD or printed out via its integrated thermal printer. The initial production output for the SSTs will be about 2,000 units per year but will increase as new markets, both locally and internationally, open up.
"More than 1,000 SSTs have already been exported to Malaysia where they are being used as self-service terminals at petrol stations to allow motorists to fill their cars and pay without any contact with the petrol station staff. A number of other countries have also expressed interest in the units and a number are being used on a trial basis."
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