The MRL Posnet terminal is a game-changing product that will allow merchants to:
- Accept payments for goods and services through MasterCard or Visa cards
- Dispense value-added services such as mobile recharge and satellite TV recharge. The ability to issue train tickets, pay utility bills, buy movie and bus tickets, among others, will be introduced shortly.
The 3 types of POS products offered are:
- Payment and VAS (Retail) - MRL's Retail POS terminals will be placed in merchant locations that wish to leverage the POS terminal beyond just processing card payments for goods and services sold. These terminals have the ability to dispense Value-added services enabling the merchant's business to become viable and scalable. The terminals have the option of communicating, in a secure manner, through terrestrial networks, mobile networks or the internet
- Payment only - MRL's Payment terminals can be installed in merchant locations that are looking to scale up their business by accepting payment cards. The terminals have the option of communicating, in a secure manner, through terrestrial networks, mobile networks or the internet.
- VAS on existing bank terminals - MRL has the ability to deliver value-added services through existing POS terminals of any bank. All that would be required is a software injection on the terminal and the merchant would be good to go. The system is cashless and the only thing the merchant would have to ensure is to have a sufficient daily trading balance in their account at the start of the day.
The technology behind the terminal
Having a great product also means having the best software in it. To ensure the highest efficiency and security of the POS terminal and network, we have deployed the latest and best technologies ? some developed by our R&D centre in Bangalore. Some innovative features on our network include:
- Platform independent POS software architecture - Riding on this architecture gives us the ability to induct any vendors? POS onto our network in the shortest possible time. The other key feature is that the architecture is upgradeable preventing us from falling behind the curve.
- VAS application software ? The software has a platform independent architecture, can do remote downloads, message management, call-me-back feature, among others. This makes the terminal an intelligent device which not only adds to our bottom-line, it improves customer satisfaction. Like the POS software, this software is upgradeable too.
- Proactive network management ? We believe that the entire network of POS should be actively managed so that the effective usage of the terminal is guaranteed. Managed through a centralized Terminal Management Server, we will know if there is a problem with a particular POS machine even before the merchant realizes it. This proactive management helps us fix the problem before it results in loss of business or downtime for the merchant.
- Data security ? It is of paramount importance in the transaction processing industry. While the prevalent method of encryption will guarantee that there is no key repetition between transactions, most of the host infrastructure is geared for a Master Session (MS) method of encryption. In the MS method, if the session is not managed properly the risk of key exposure is high since the entire network will be using the same key for data encryption. Given the data exposure risk with MS method, we have adapted a blended approach called UKPT ? Unique Key per Terminal.
- All IP network ? All of our terminals communicate via TCP/IP over a variety of CDMA data links. We are on a ?Pay for the data? model and immune to ?cost per call?, a hallmark of the traditional dial-up network. Therefore our merchants can process any number of transactions without worrying about communication costs. Our transaction processing speed is at least 40% better than traditional dial-up terminal. We are in a position to make a variety of maintenance calls from the terminal at no cost.
The benefits include:
- EMV Compliant - Security for Merchants is improved due to lesser chances of fraud and theft
- Ensuring that customers can avail of a variety of services
- Lower working capital requirement ? All products are delivered real-time and the merchant needn?t stock it ahead of time
- Helps merchants business to become scalable
- Can be used readily for all types of financial inclusion initiatives
