speedy chip and pin

Andromeda, which supplies electronic point-of-sale equipment, has launched a new, fast chip and PIN handset for its Rameses system. The firm said the handset will provide cost savings and extremely fast card transaction processing of under three seconds.

Unlike traditional card payment terminals, all connectivity to the bank is provided over the existing broadband infrastructure, so that multiple payment devices can be deployed on-site. Removing the need for dedicated phone lines for each terminal saves costs, added the firm. Ben Portsmouth, CEO of Andromeda, said: "This new chip and PIN product means we can offer a solution at a fraction of the cost of rival integrated product offerings and provide a much faster authorisation process."