New Service from TeleCash Enables Merchants to Accept Debit and Credit Card Payments, Simply and Securely, Anywhere and Anytime
BAD VILBEL, Germany, November 8, 2010 – TeleCash GmbH & Co. KG, a First Data company and one of the leading network service providers (NSP) for the processing of card payments in Germany, today announced the launch of its new ‘pocketCash' service that enables clients to accept and process card payments by using an internet enabled cell or smart phone.
"With our latest innovation, pocketCash, clients can offer their customers superior service through the convenience of cashless payments," explains Klaus Schöpflin , managing director of TeleCash. "pocketCash complements any existing terminal installations that the merchant may have and avoids the need for investment in new hardware. The service is ideally suited to self-employed persons and mobile service providers, such as craftsmen, domestic or delivery service providers, and those who need to process electronic payments infrequently."
pocketCash works as follows: using a cell or smart phone, the merchant calls a TeleCash payment platform and logs into a secure area. The phone connects with an application in TeleCash's high security, high performance data center. If the customer wishes to pay by credit card, the card number and expiry date of the card are keyed in. For debit card payments, the account number and bank sort code are entered. TeleCash processes the payment instruction quickly and securely and the result will display directly on the cell phone screen. As with conventional cash payments, customers immediately receive a receipt for the payment detailing the amount. pocketCash-originated payments are settled using state-of-the-art technical standards and procedures and special encryption technology is used to protect data during transmission. Customer data is used for processing purposes only and is not stored in the device. For debit card payments, pocketCash features additional verification mechanisms to improve security, including plausibility checks to avoid inconsistent data input or the use of cards reported stolen or non-existent bank accounts.
With the pocketCash payment solution from TeleCash, companies and self-employed persons such as market stall operators can accept and collect card payments anytime and anywhere. An internet enabled cell- or smart phone is all that is required.
About TeleCash and First Data
With more than 222,000 managed terminals and almost 900 million processed transactions, TeleCash is one of the leading network operators and service providers for card-based payments in Germany. More than 133,000 customers from the retail and banking area trust our long-term experience and rely on our integrated, industry-specific solutions as well as our efficient service. About 350 employees support our clients with the selection, purchase and installation of the appropriate hard and software, arrange for trouble-free operation and offer interesting value-added services, which help to increase revenues and customer loyalty. For more information, visit www.telecash.de.
First Data powers the global economy by making it easy, fast and secure for people and businesses to buy goods and services using virtually any form of electronic payment. Whether the choice of payment is a gift card, a credit or debit card or a check, First Data securely processes the transaction and harnesses the power of the aggregate data to deliver intelligence and insight for millions of merchant locations and thousands of card issuers in 36 countries. For more information, visit www.firstdata.com .
Stefan Gürtler, TeleCash GmbH & Co. KG
+49 (0) 69 7933 2504