Accelitec Announces PayPilot RFID Payment System

PayPilot is the first contactless payment system that includes credit, ACH and prepay features that reduces transaction costs and gives retailers greater control.

"Retailer demand for an alternative to traditional debit and credit card payment systems is at an all time high," said Tom Bartz, Accelitec CEO. "We've been working with major retailers on a contactless payment system for the past two years and started deploying prototype systems in 2004. PayPilot is designed to put the retailer in control of payment methods and is now ready for commercial deployment."

"As consumers increasingly use credit and debit cards as replacements for cash and checks, and interchange fees continue to rise, transaction costs have become a significant burden on retailers," Bartz said. "Until now, an alternative solution was simply unavailable for retailers faced with increasing card usage at higher costs."

The PayPilot TMS system consists of three hardware components and supporting backend and transaction software. Consumers can sign up for PayPilot at their merchant's store location using a PayPilot kiosk, called an Automated Transponder Dispenser.

Upon registering, consumers receive a transponder in the form of a key fob or card, not unlike loyalty cards dispensed by grocery stores today. The RFID-enabled fob is presented at check-out to a PayPilot POS transponder. Authentication, security and consumer pre-set variables help provide spending controls.

Backend transaction software allows merchants to control interchange fees by allowing consumers to use ACH for payments rather than the more expensive credit card accounts.

The PayPilot network of "smart" devices, multi-functional RFID readers and ATDs, operates on a Microsoft .Net platform, enabling system changes and upgrades to be made in real time without system interruption.

PayPilot is ideally suited for high-volume retail environments since these operations are most adversely affected by increasing transaction fees and limited customer transaction times. Examples include supermarket chains, retail petroleum facilities, and quick-serve restaurants.

According to Bartz, "With PayPilot, retailers can provide customers with a faster, more-secure, and completely customized way to purchase goods and services. Customers appreciate contactless payment systems for greater convenience and discounts and special offers from merchants."