Acies introduces contactless card payment technology

Source: Acies

Acies Corporation (OTC BB: ACIE), a financial services company specializing in payment processing and online banking services to small, medium and large size merchants across the United States, today announced that, through several of its key strategic partnerships, it has introduced a new "contactless" card payment solution that provides consumers with a simpler way to pay.

Using this technology, consumers simply tap or wave their contactless-enabled credit or debit card on a specially equipped merchant terminal that eliminates the need to swipe the card through a reader. In addition, the card never leaves the consumer's hand. The new solution is ideal for traditional cash-only environments where speed is essential, such as quick serve and casual restaurants, gas stations and movie theaters.

Acies expects that all major bank card issuers will be distributing cards equipped with this technology to millions of cardholders nationally by year-end. Credit and debit cards equipped with this technology can also be used in the traditional way.

"Consumers and buyers are demanding speed and convenience, and we believe this breakthrough "contactless" technology will drive an entirely new generation of electronic payments worldwide," noted Oleg Firer, CEO of Acies. "With a growing trend toward further automation and speed for consumers making payments at a retail store, restaurant, or movie theater, we believe "contactless" technology represents an exciting new market for us, and will be well received by our customers. Additionally, being amongst the first payment processing providers to enable its merchants to accept this technology represents an even greater opportunity to obtain the "first to market" advantage."

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