As a result, the company now has patent rights covering EMV terminals that can be switched from transacting card payments to redeeming vouchers and coupons according to the Eagle Eye redemption process.
“This will help us continue with our overseas expansion, with patents now granted covering 34 countries, and covering a market of 1over 872 million people. Crucially, it will assist our EPOS technology partners to standardise their global EMV product features, in this case to enable voucher redemption via keyed entry and / or NFC, an increasingly significant point with the EMV liability shift for POS devices due in October 2015” said Eagle Eye CEO Steve Rothwell.
As a result, Eagle Eye is now in talks with a number of retail POS partners to roll out its redemption technology. “The joint benefits for retailers and POS providers are obvious, in as much there is a very easy ‘switch-on’ for retailers to enable secure digital redemption at the point of sale, and a new, incremental revenue stream for retail technology partners with very little effort.” Rothwell added.
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