Agreement to distribute wireless point-of-sale and mobile ATM

19 November 2003 News

Beget Holdings has acquired the exclusive distribution rights for the banking industry from Leaf Wireless, to market a wireless all-in-one point-of-sale, mini ATM and voucher device.

The Intellect Aero is a portable device that uses GPRS (global packet radio switching) to carry out debit and credit card transactions faster than land lines or any other currently-used 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 into the device, according to Beget Holdings.

The agreement is pertinent to the financial and banking sectors who are required to upgrade their ATM and point-of-sale terminals to comply with the new EMV international card standard that comes into effect early in 2005.

According to Beget MD, André Potgieter that there are 130 000 point-of-sale terminals in use in South Africa 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 fetes and bazaars."

For more information contact André Potgieter, Beget Solutions, 012 348 1216.

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