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    Precidia Provides iPOS for Chase Paymentech

    The system will provide connectivity from VeriFone Ruby terminals to broadband ISPs.

    OTTOWA, Canada -- Precidia Technologies Inc., an Internet Protocol (IP) payment and networking designer, concluded an agreement with Chase Paymentech, where Precidia supplied its iPOS systems as part of Chase's managed VPN payment solution for petroleum and convenience stores, Precidia stated.

    Chase selected iPOS to provide serial to ethernet connectivity from VeriFone Ruby terminals to broadband ISPs. iPOS is a broadband VPN transaction processing solution for retailers using Ruby terminals that wish to reduce typical capital and operating expenses associated with frame relay, VSAT networks or slower dial services, the company stated.

    "The iPOS plays a key role in our new payment offering to petroleum and convenience stores," Jennifer Stout, senior vice president of product management at Chase Paymentech, said in a statement. "We are seeing a distinct trend and strong demand for support of broadband services in the convenience store marketplace. Some convenience stores have an existing IP connection, but can't currently maximize broadband services to process transactions. This simple adapter allows merchants to cost effectively move off of a dial, frame or VSAT payment processing infrastructure, and onto a broadband VPN managed solution."

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