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The new product targets both traditional and non-traditional merchants who are constantly on the move and need to accept payment at the time and place of sale, away from a retail countertop or fixed sales site. The WAY Systems mobile device accepts both credit and PIN-based debit card transactions made virtually anywhere in the U.S., utilizing a network of wireless carriers and connecting to Global Payments through the Cingular GPRS (General Packet Radio Service) Wireless Network.
Vice President of Product for Global Payments, Tony Abruzzio, said, "The WAY Systems MTT terminal and its connectivity to the GPRS wireless network will provide an exciting new solution for the many merchants who conduct business in the field and cannot be tethered to a desk or brick and mortar location. We expect Global's Mobile Processing Solution to meet the needs of a wide variety of merchants, including home repair and delivery services, trade show vendors, special events sponsors and antique or art show vendors."
"Global Payments is the first major processor to provide a single point of contact for the terminal, application and wireless service, giving merchants comprehensive, end-to-end support," Mr. Abruzzio said. "The product is small, with an intuitive form factor, and ready to use right out of the box."
The WAY Systems MTT 1556 terminal enables mobile merchants to accept payment through a simple card swipe and thus qualify for the interchange rates associated with such transactions, as compared to higher interchange rates often incurred by mobile merchants for transactions involving key entry or manual imprint of the card number. It also features an infrared (wireless) printer for additional convenience.
"WAY Systems is pleased to work with Global Payments, one of the most respected payment processors in the world," said Vice President, North American Sales for WAY Systems, Stu Fullerton. "Class A certification for this product brings with it the mainstream support provided by Global Payments' exemplary support organization for the benefit of its merchants."
Global Payments Inc. (NYSE: GPN) is a leading provider of electronic transaction processing services for consumers, merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies, multi- national corporations and gaming establishments located throughout the United States, Canada, Latin America, Europe and the Asia-Pacific Region. Global Payments offers a comprehensive line of processing solutions for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, check verification and recovery, as well as terminal management. The company also provides consumer money transfer services from the U.S. and Europe to destinations in Latin America, Morocco, and the Philippines. For more information about the company and its services, visit http://www.globalpaymentsinc.com
This announcement may contain forward-looking statements pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements involve risks and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, development difficulties, foreign currency risks, costs of capital, continued certification by credit card associations, the ability to consummate and integrate acquisitions, and other risks detailed in the Company's SEC filings, including the most recently filed Form 10-Q or Form 10-K, as applicable. The Company undertakes no obligation to revise any of these statements to reflect future circumstances or the occurrence of unanticipated events.
Contact: Phyllis McNeill
770 829-8245 Voice
phyllis.mcneill@globalpay.com
