DUNDEE, Scotland--(sQuidcard, the eMoney operator and Ingenico, the global leader for payment solutions, today announced the launch of the sQuid application on Ingenico payment devices.)--
“Extending our eMoney service onto the Ingenico platform opens up the next stage of expansion for our business. It enables us to provide sQuid across a wide spectrum of merchants in the UK and beyond.”
sQuidcard provides contactless eMoney services in retail and campus networks. With an ability to provide an available-to-all pre-paid card, that delivers multi-purse technology, sQuid is more flexible than bank cards or other loyalty schemes. Free to use, it has been specifically designed to replace cash transactions in fast retail environments, and is compatible with transport smartcard applications.
sQuid’s managing director, Adam Smith, said: “Extending our eMoney service onto the Ingenico platform opens up the next stage of expansion for our business. It enables us to provide sQuid across a wide spectrum of merchants in the UK and beyond.”
Dominic O’Mara, sales director of Northern Europe for Ingenico commented: “The payments industry is currently experiencing a new wave of innovation. Adoption of contactless payments and ePurses is being driven by consumers who desire convenience and speed at the point of sale. Ingenico is working with sQuid to accelerate its activities, in Dundee for example, to supply the public with a solution that allows them to manage their money and complete transactions quickly and simply, without the hassle of handling small change.”
Moving forward, sQuid and Ingenico expect to deploy together as sQuid enters new geographies and new applications.
Smith added: “sQuid provides customers with an easy replacement for cash. The bank schemes have not had much impact thus far and the cost of credit cards for customers and merchants continues to be a big issue. sQuid is free for customers and low cost for retailers, so ideal in these difficult times. By deploying our technology on platforms such as Ingenico, with integrated payments and loyalty, we make life easier still for retailers and their customers.”
About sQuidcard Limited
sQuid eMoney is the alternative to the debit and credit card networks for sub £10 contactless transactions - a market forecast to grow rapidly, replacing some of the £200bn cash transactions made each year in the UK.
Deploying its own technologies, with proven contactless payments between card and reader, sQuid delivers a significantly faster transaction than chip & pin.
sQuid has a multi-purse capability and is compatible with ITSO (transit) schemes. sQuid operates enhanced security between the card, the terminal and the payments engine, and allows additional functions to be delivered to the card holder and the retailer. This enables a sQuidcard to be used not only for low value purchases but also as a pre-pay transit card.
sQuidcard is a subsidiary of Nucleus Limited, a leading brand, internet and venturing business.
Ingenico is the world’s leading provider of payment solutions, with over 15 million terminals deployed across the globe. Delivering the very latest secure electronic payment technologies, transaction management and the widest range of value added services, Ingenico is shaping the future direction of the payment solutions market.
Leveraging on its global presence and local expertise, Ingenico is reinforcing its leadership by taking banks and businesses beyond payment through offering comprehensive solutions, a true source of differentiation and new revenues streams.