- Transaction processing times decrease from 12 to three seconds with integrated Internet connectivity -
SAVANNAH, Ga., March, 29, 2004 - GO Software Inc., a subsidiary of Return On Investment Corporation (OTCBB: ROIE) and a leading provider of point-of-sale (POS) payment processing software, announced its certification to Paymentech`s NetConnect, a secure, direct Internet connection to its card authorization center. The latest version of GO Software`s PCCharge, a Windows-based payment processing software, processes merchant credit card transactions using the Internet and NetConnect.
As the economy recovers, nearly three-fourths of retailers will make POS buying decisions over the next 18 months, according to a recent IHL Consulting study on pent up demand for POS replacement. PCCharge and NetConnect provide merchants with a secure, direct Internet connection that reduces average processing times from 10-15 seconds for a dial-up connection to a approximately three seconds.
"GO Software understands the real value in moving customers through the payment process quickly, while maintaining the security of the transaction," said Scott Cruickshank, chief marketing officer, Paymentech. "The integration with PCCharge reduces authorizations to a fraction of the time it takes with dial-up; combine speed with increased security, and the integration with GO Software translates into a better buying experience for a merchant`s customer."
NetConnect and PCCharge both bring Internet speed to the POS, allowing merchants to process more transactions during business hours, which could potentially result in higher sales. NetConnect runs on a digital subscriber line (DSL), freeing telephone lines for incoming customer calls and faxes.
PCCharge integrates into custom POS systems for retail merchants. The system saves money by eliminating redundancies in processing payments and human error, and ties directly into the merchant`s accounting systems.
Referencing the IHL survey, Tony Abruzzio, executive vice president and general manager, GO Software, recognizes the motivation compelling retailers to spend money on POS technology.
"The main drivers for retail buying decisions are speed and ease of use; retailers know that fast processing times lead to customer delight," said Abruzzio. "Customers expect more today when it comes to service, and as the economy recovers, IT executives are looking for fast, affordable, secure options to keep things moving at the right pace."
Paymentech authenticates each transaction and requires industry-standard SSL encryption, helping protect merchants against fraudulent charges and refunds. GO Software certified to NetConnect at the end of 2003, and has been integrated to Paymentech`s dial-up products for more than two years.
Paymentech, L.P. processes more payment transactions than any other company in North America - and more than half of all Internet transactions - for retailers accepting U.S. and international payments via traditional point of sale, Internet, catalog and recurring payments. The privately held company, founded in 1985, is an end-to-end processor for merchants of all sizes and industries. Paymentech`s 1,500 employees work in multiple locations, including the Dallas headquarters; New York; Salem, N.H.; Tampa, Fla.; and Tempe, Ariz. In 2003, Paymentech and its Canadian affiliate, based in Toronto, processed seven billion transactions and $162 billion in sales volume in 14 currencies. For more information, please visit www.paymentech.com.
About GO Software
GO Software, a subsidiary of Return On Investment Corporation (OTCBB: ROIE), is a leading provider of point-of-sale (POS) payment processing software. More than 100,000 businesses use GO Software`s solutions to process payments at high speed, expand tender types, and lower credit card costs. GO Software provides payment processing solutions to meet the needs of any merchant, regardless of transaction volume, platform or sales environment. For more information about GO Software, visit www.gosoftware.com or call (800) 725-9264.
For GO Software