Tesco, the UK's leading retailer, has announced that it will implement Retail Logic's Smart-Switch technology throughout its UK stores. Smart-Switch is the world's first EMV (Europay, Mastercard, and Visa) Level 2 accredited chip and PIN (Personal Identification Number) software solution for integrated EPoS (Electronic Point of Sale) equipment. Tesco is currently piloting Smart-Switch in its Hertfordshire (UK) stores and, on successful completion of the pilot plans to deploy it in all of its 730 UK stores. Ultimately, Smart-Switch will be rolled out in each of the continents in which Tesco operates, including Europe and Asia-Pacific.
Nick Mourant, divisional director of treasury at Tesco, says: "This innovative new technology will improve credit card security for our customers and allow us to continue to deliver great customer service. It will also speed-up the payment process. By utilising Smart Switch, Tesco is 'future proofing' its payment card processing systems. We continue to lead the field with the adoption of this new technology."
As liability for most cases of fraud is due to shift from card issuers at the end of 2004, Smart-Solution, which incorporates the EMV accredited integration tool, Smart-Switch, is a complete EFT solution that integrates easily into existing systems. It continues to provide fast transaction times that are comparable to conventional magnetic stripe which is particularly important to multi-lane retailers, such as Tesco, which has 20,000 PoS in the UK alone.
Tim Stratton, Managing Director of Retail Logic, continues, "I am delighted to continue our ten year long relationship with Tesco and be working in partnership to implement this market leading move to chip and PIN acceptance. A critical element of all retailers upgrading to chip and PIN solutions is the availability of ready to use EPoS systems that are accredited to EMV standards. Smart-Solution was designed to meet the needs of retailers globally by avoiding the need for them to become involved in the EMV accreditation process."
About Retail Logic
Founded in 1992, Retail Logic provides Electronic Funds Transfer (EFT) software for processing credit and debit card payment transactions. Retail Logic is the leading provider of card processing systems. It has the top five UK supermarkets and eight out of the top ten UK retailers as customers. Retail Logic's innovative solutions help to expand markets for its customers' products worldwide.
The Solve Product Suite from Retail Logic is in use throughout the industrial, commercial and service industry sectors in such diverse fields as finance, retail, Internet, travel, hospitality, leisure, e-commerce and call centre operations in a wide range of markets.
For more information on Retail Logic and its products and services please see the website at http://www.retail-logic.com
Tesco is the UK's leading retailer and an established overseas operator. Tesco has 979 stores worldwide and employs 260,000 people across ten countries. Over 40 per cent. of group space is located outside the UK and Tesco is well positioned to become a leading retailer in Central Europe and South East Asia.
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