CHICAGO -- IVI Checkmate Corp. (NASDAQ: CMIV); (TSE: IVC/IVI) announced the availability of eN-Concert Insight™, an application that helps retailers distinguish between credit cards and offline debit cards when presented by customers at the point of sale.
If a retailer knows the card is an offline debit card, he can ask the customer to enter a PIN, to convert the transaction into an online debit transaction. For retailers, online, PIN-based debit is preferable to offline, signature-based debit because of a significantly lower per transaction cost. Also, online debit transactions are guaranteed, so there is no possibility of chargebacks.
When a consumer tenders an offline debit card, eN-Concert Insight recognizes that the card's account number falls into a range of account numbers reserved for offline debit cards. eN-Concert Insight sends a message to the PIN pad to prompt the customer to enter a PIN. When a PIN is entered, the offline debit transaction is converted to a less expensive online debit transaction.
The eN-Concert Insight application resides in the POS terminal and on the retailer's In-Store Professor (ISP). eN-Concert Insight can be installed as an option with the eN-Concert Store™ In- Store Payment Solution, or as an application module on the retailer's In-Store Processor.
IVI Checkmate has prepared an "Online Debit" white paper to further explain the benefits of converting off-line debit transactions to online debit transactions. The white paper can be viewed on the Company's web site at IVI Checkmate.
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