Terminal velocity

Mashreqbank has signed a deal with Computer Network Systems (CNS) for the provision of 4600 Hypercom point of sale (POS) terminals. The deal is reckoned to be the largest of its kind anywhere in the GCC.

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By  Neil Denslow Published  August 19, 2003

Mashreqbank has signed a deal with Computer Network Systems (CNS) for the provision of 4600 Hypercom point of sale (POS) terminals. The deal is reckoned to be the largest of its kind anywhere in the GCC.

"We are committed to giving our merchants the best technology and the best financial benefits in the market, and as such — with a contract of this magnitude — the decision to go with CNS was not a difficult one to make," says Steven Pinto, senior vice president & head of retail banking group, Mashreqbank. “CNS and Hypercom were able to offer us the smartest, fastest and easiest to use terminals on the market, packed with value-added revenue generating applications, and they deliver standard setting services."

The Hypercom terminals are equipped to recognise smart cards as well as commonly used magnetic strip ones. They are also able to accommodate electronic signature and receipt capture (ERC) technology, a solution that Mashreqbank will fit to all of the new terminals in the UAE. This will then enable acquirers and merchants to decrease costs, increase revenues and improve customer retention.

Alongside electronic signature and receipt capture, the Hypercom terminals will also support a wide range of value-added applications and services. These include on-screen advertising, customer-pole displays, as well as secure credit and debit, Mastercard and Visa (EMV) smart card functions. The terminals are also designed to meet the latest security requirements for PIN-based transactions, including the highly secure Triple Data Encryption Standard (3DES) capabilities.

“Shopping is at the heart of the UAE. POS terminals are under severe pressure during peak shopping seasons such as the Dubai Shopping Festival, the holy month of Ramadan and pre-summer vacation shopping. Mashreqbank’s existing terminals have always been extremely reliable to guarantee a swift and secure transaction,” says Tony Alam, general manager of CNS.

“With this deal, Mashreqbank will replace some of their existing terminals with ones that will bring more convenience and security for both the buyer and the seller in the UAE," he adds.

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