NEWS

M30 & M50 are modern Android smartphones with inbuilt payment acceptance & certified to the latest PCI and payment industry standards.

Make calls, access Google Play, accept Chip & PIN and Contactless cards as well as Mobile Wallets and QR code transactions.

PAX Technology, the world’s leading payment terminal solutions provider, announced the European launch of the M30& M50Android PayPhones at the payment industry’s leading Money20/20 event in Holland on 21-23 September 2021.

PAX Technology and Transaction Systems, Master Distributor of PAX products for SEE, Russia & CIS, were among the sponsors of the prestigious fintech event, where the European launch took place in a special event on Wednesday 23 September.

The innovative M-series PayPhones are the first-ever smartphones with an inbuilt point-of-sale technology that combines the benefits of a secure EMV & PCI 6 certified payment terminal within a modern Android smartphone ecosystem.

The M30 & M50 are innovative alternatives for Acquiring Banks and payment Service providers looking to strengthen partnerships with telecom operators or deliver revolutionary new services to merchants.

Jack Lu, CEO of PAX Technology, commented: “The M30 and M50 are compelling devices, not just because of their technology, but in how they have the potential to revolutionize retail. You can now accept payments, make voice & video calls, and interact with customers on social media, all via a single device.

In Brazil, where many tens of thousands of the M-series models were deployed during a successful pilot phase, entrepreneurial merchants and businesses are now marketing goods & services by filming videos and taking photos and then selling and accepting payment, all via these innovative PAX devices. View how PagSeguro promotes the M-series products here.

M30 is designed to bridge the gap between customer and POS system capabilities and enables companies and entrepreneurs to run an eCommerce business on the go. All major global payment methods can be accepted, while at the same time efficiently handling sales & inventory management. A secure PINpad is located on the opposite side of the full-screen display, turning the smartphone into a secure payment device.

M50 takes the user experience even further by enhancing the M30 features with faster processing power running on Android 11, and a larger 5.7-inch HD+ display for a better working experience. Both models are powered by advanced battery technology allowing up to 78 hours of standby time.

Panos Chalkias, Managing Director of Transaction Systems commented on the launch: “At a time when the whole industry is talking about using smartphones as card acceptance devices, PAX is coming up with the ideal hybrid between the two worlds, with no compromise on security. It is with great pride that we are witnessing the first-ever Payphone launch, yet another innovation by PAX Technology. As we are living in an era where customer experience is vital, PAX Technology is revolutionizing the market by bringing forward a solution that combines great payment technology with convenience and great user experience.”

Andrew Wu, VP for the EMEA region at PAX Technology, concluded: “PAX continues to push the boundaries of innovation by bringing to market products that are helping our international clients win more business and deliver new profitable services. We are helping redefine mobile commerce, enabling merchants to be more effective and to process everything they need on the spot, anytime & anywhere. This is the beginning of a new era for mobile business, and we are proud that our global clients appreciate the competitive edge that PAX solutions are bringing to their businesses.”

The new 2-in-1 terminal has been certified for advanced electronic document signing as well as for qualified electronic signing.

The new Aries 8 Graphito (Aries 8G) by PAX Technology is the first payment tablet in the market that can be used for both managing payments, as well as Advanced Electronic Document Signing (AdES) and Qualified Electronic Signing (QES) according to the EU eIDAS laws.

Featuring tablet functionality and PCI-certified security, the robust and flexible terminal can be used as a tablet, cash register, assisted sales terminal, and graphometric tablet. Certified by Namirial SpA. the Aries8G is one of the largest and widest touchscreen Smart Android terminals in the market.

A Trust Service Provider, Namirial focuses on addressing the fast-growing market of Digital Transaction Management (DTM), which includes legally compliant electronic signatures, managing and tracking document flows, conducting secure transactions, and ensuring secure storage of data.

Capturing a handwritten signature is the best choice for getting documents signed during face-to-face interactions. Documents can be signed electronically at any place, anytime, in real-time, using any device (i.e. a point-of-sale computer or a tablet).

This certification means that bank branches, retailers, post offices, telco providers, tax offices, government agencies, car rentals, and many more businesses can take advantage of this 2- in-1 smart payment tablet to manage customer authentication, on-boarding, 3^rd party payments, card payments, electronic and digital signing of documents, while they reducing paper consumption, providing exceptional customer experience, minimize required time per transaction, utilize existing assets, greater convenience, expand digital dialogue with the customers and push forward simplicity and efficiency!

More than one million self-service payments were realized without customers’ queuing at cash registers

The Challenge

The largest mobile operator in Greece runs a large network of stores, visited by thousands of customers daily who want to access telco products and services. Maintaining low queues at the store’s cash registers, as well as the gradual training of customers in the digital services offered, was a top priority for the operator; on one hand, they could maintain excellent in-store customer satisfaction, and on the other hand, it enabled store employees to make better use of their time, and offer premium quality customer services.

The idea was that some transactions should be excluded from the cash registers.  These were the transactions that did not necessarily require customers’ interaction with store employees and should be offered to customers in a self-service mode, without the interference of store staff, in specially designated areas near the store entrance and away from the customer service desks. At the same time, this mode of store operation serves an additional requirement, in line with the current pandemic precautions: that of ensuring social distancing within the stores.

The Solution

Cardlink in cooperation with PAX Technology and its partners in Greece, Novidea & Transaction Systems, designed a solution that would meet the particular requirements mentioned above. The solution was the PAX SK800 Android kiosk, a specially designed kiosk, which can either be placed on a special base on the floor or mounted on a wall. Customers select the service they want (i.e. bill payments, top-up, user program purchases) and as if they were using an ATM, they would pay with their card (either by inserting the card or contactless). The PAX SK800 self-service kiosk is powered by PAX Paydroid OS and is equipped with a hybrid card reader and durable PIN pad. With a built-in camera and thermal printer, it is one of the fastest kiosks in the market, enabling 4G, Bluetooth, WiFi, and Ethernet connectivity.

The Implementation

In the last couple of months, two hundred PAX SK800 Android kiosks have already been installed in an equal number of stores, while the number of transactions has already exceeded one million, at a lower cost and at a higher speed than the traditional cash register. The use of the kiosk is very simple and its menu is user-friendly, so anyone can use it without help. In addition to the above features, using a central content management system, the operator has the ability to display promotional messages and news via videos and photos.

The Benefits

• Improved speed of service: Customer service without queues and delays
• Cost reduction and increase of productivity: Service automation. Store staff can now be employed in more productive activities and services.
• Innovative brand image: The kiosk is an original, state-of-the-art technology device with an easy-to-use interface

For more information, you may visit www.cardlink.gr

In partnership with Cardlink, Novidea & Transaction Systems, the cashless store’s vending machines come equipped with PAX Technology’s IM30 Unattended POS terminals

The first robotic cashless micro-market retail store in Athens is now a reality thanks to the innovative solutions for easy and secure payments at vending machines offered by Cardlink in cooperation with Novidea & Transaction Systems, distributors of PAX Technology solutions in Greece and Central and Southeast Europe respectively.

The first physi-digital store in Athens has been operating 24/7/365, using technologically advanced robotic vending machines since July 2022, making it the first ever robotic cashless micro-market retail store worldwide! The minimarket operates without any personnel. Using robotics and IoT (Internet of Things), i-mall Micro Market stands out for its advanced technology and fully robotic systems.  Products are bought through various vending machines and all transactions are done electronically. Customers are also able to make purchases from home through an app and then pick them up from an automatic locker.

Having incorporated all the latest technologies that save time for users and costs for entrepreneurs, the i-mall MicroMarket offers at the same time a unique experience to the consumer. This improved customer journey is also a differentiation point for i-mall MicroMarket in relation to the rest of the classic small retail stores. The guide to designing the store was the result of primary research conducted by DK Marketing whose valuable findings showed that the physi-digital experience can offer the greatest possible satisfaction to consumers by connecting the digital with the analog-physical world.

The payment system in the store is using PAX Technology’s IM30, a new generation of unattended POS in the stores’ vending machines for card, wallet, or wearables transactions. Equipped with a large touch screen and 4G connectivity, the IM30 POS is designed to increase sales, implement security, and be impervious to environmental damage, offering an easy-to-use and fast transaction environment.

View the store opening video here

The Bank has selected GRGBanking’s Cash Recycling Machines to Drive its Branch Automation Project

Eurobank, the most customer-centric bank and one of the four systemic banks in Greece, has selected GRGBanking’s H68V series of Cash Recyclers for the implementation of its strategic plan, “Eurobank 2030”, which provides for the new “future branches”, aligned with the updated, direct and personalized client services of the Bank, part of the Bank’s digital transformation project. TRSYS in cooperation with its local partner, Novidea, has delivered the installation and has been assigned the maintenance and support services.

More than 450 new generation cash recycling machines by GRGBanking, are being deployed in the whole branch network of Eurobank in Greece, assisting the Bank to achieve significant savings in operational and back-office processes. The Bank has selected cash recyclers as a holistic solution that will help meet its goals of branch transformation and improved customer satisfaction while reducing costs and increasing the digital dialogue between the customers and the new machines.

Self-Service Terminals play an essential role in the Bank’s operations in the Greek market, as cash remains a popular payment method across the country. On one hand, this maintains the pressure on financial institutions to manage availability and customer service, with unproductive tasks, such as maintaining aged bill payment machines, improving terminal malfunctions, upgrading old software, and operating cash supplies in every branch. On the other hand, firm attachment to cash is a somewhat double-edged sword, since withdrawing and depositing cash from ATMs is one of the most common ways customers interact with banks. But that customer interaction comes with its challenges, including the costs of keeping cash in circulation and a slower return on investment (ROI) for banks.

Furthermore, during and following the COVID-19 pandemic, banks are required to provide contactless financial self-service at a time of significant inconvenience. Eurobank has been deploying automated bill payment solutions across its entire branch network for more than twenty years, and was quite pleased with the efficiencies achieved; however, the COVID-19 pandemic has brought the bank closer to the realization of the significant opportunities that arise for driving efficiencies and for moving forward towards their branch digitization and automation projects.

After carefully evaluating transaction types and volumes occurring throughout their branch network, Eurobank realized they could gain valuable efficiencies by switching to next-gen automated bill payment machines. The new GRGBanking cash recycling solution has been deployed and launched, leveraging intelligent finance technology and innovative solutions to enhance the efficiency of business operations, reduce costs, and deliver customer satisfaction.

GRGBanking’s H68V series is an innovative smart cash recycler with a modern appearance able to deliver large volumes of cash processing and a variety of transactions. Its cutting-edge design, high reliability, and wide scalability make it a perfect fit for various scenarios. The optional note auditing functionality of the H68V Series can realize more efficient and precise cash management to reduce the total cost of ownership (TCO). What’s more, it offers a multi-layered approach to security that helps defend against fraud attacks.

“We like the design, the features, and the quality very much. Our machines have recorded some of the highest transaction volumes in the country. It totally changes the way we serve our customers— and what we can do for them. We are planning to expand our Self-Service network still further and add even more innovative services to help our customers even more. We believe this reflects the customer expectation at Eurobank, and it is a positive endorsement of business strategy.” commented Mr. Panagiotis Kotsis, Self-Service Banking Terminals Director.

Commenting on the successful rollout of the project, Transaction Systems’ Managing Director, Panagiotis Chalkias has said: “We are extremely proud to be a part of Eurobank’s branch digitization and automation process.  GRG’s cash recyclers have been key to improving banking processes and have so far helped hundreds of banks meet the overall goals of customer relationship management worldwide. It is with great pride that we now can say that we have assisted our customers in their efforts towards business optimization and digitization.”

The immediate benefits of the new cash recycling solution have been clear. Faster transaction times and greater convenience have significantly enhanced the customer experience which contributes to improved customer acquisition, conversion, and retention rates.

 

Watch the case study video here

 

Transaction Systems and GRGBanking Extend their partnership to Provide Organizations in Poland with Banking Transformation Solutions

Transaction Systems, the leading provider of transaction and branch automation solutions in Central, and Southeast Europe, and GRGBanking (GRG), the leading provider of financial intelligent equipment and solutions, announce the extension of their existing cooperation to provide GRG’s intelligent products and innovative financial technologies in Poland via Self-Service Solutions Polska (SSS Polska), TRSYS’ partner in the country.

With a strong international presence, established offices and subsidiaries in Europe, Southeast Asia, the Americas, the Middle East, and Africa, GRG aims to set up its banking automation business globally through a strong network of strategic partners. Part of this strategy is the expansion of the agreement with Transaction Systems to include Poland and allow Transaction Systems’’ partner in the country, Self Service Solutions Polska, to act as the exclusive general GRG’s distributor in the country. The extension of the agreement comes after a successful 5-year cooperation that dates back to 2018 and has so far covered 13 countries in Central and Southeast Europe. Financial institutions in Poland will now be able to benefit from the multiple benefits of GRG Banking solutions to be offered and supported by SSS Polska.

GRG has already initiated its global expansion strategy entering new potential markets overseas with innovative products such as H68VL – the latest multi-function Recycling ATM as well as Cash Dispensing ATMs, Retail Recyclers and Depositors, Cash Counting Machines, and many others. Besides their current implementations in Central and Eastern Europe, the extension of the partnership with TRSYS and SSS Polska will initiate GRG’s expansion in the Polish market.

Linda Lu, General Manager, GRGBanking Hong Kong, mentioned:” It is a breakthrough for market development with Transaction Systems and SSS Polska. This partnership focuses on Intelligent Finance, Branch Transformation Solutions, Smart Retail Solutions, and various solutions, driving innovation and digital upgrading within the banking industry in Central and Southeast Europe. GRGBanking’s expertise and tailored solutions ensure enhanced operational efficiency and an optimized customer banking experience.”

Commenting on the new cooperation, Panos Chalkias, Managing Director, Transaction Systems  said: “We are particularly happy to expand our partnership with GRG to include Poland. With banking automation solutions already implemented in our region, this cooperation will enable us to support organizations in Poland via our partner SSS Polska and assist them in their efforts to optimize and streamline their business processes, reduce costs as well as increase revenues.”

“We are very excited about our cooperation with GRG Banking and Transaction Systems.. GRG Banking is the 3rd largest ATM manufacturer in the world investing tremendous resources in the R&D of self-service technology. Thanks to our cooperation, Polish organizations, from financial and retail industries alike, will also be able to benefit from state-of-the-art GRG Banking innovative solutions and know-how’, says Marcin Wrotkowski, General Manager, SSS Polska. “Close cooperation with a trusted regional partner such as Transaction Systems will provide us with an additional strong backbone supporting our activities on a Polish market”.

 

Transaction Systems announces the promotion of Panagiotis Chalkias from Managing Director to CEO for Central, South and East Europe.  In his new capacity, Panagiotis Chalkias will have full responsibility for the company´s go-to-market in CEE, driving the company strategy for product enhancement and geographic growth.

Since first joining Transaction Systems in 2014, Panagiotis has served as the Managing Director of Transaction Systems, Hungary, responsible for the company’s development and expansion. During that time, Panagiotis was credited with a variety of important accomplishments including the growth of the company into one of the key players in the field of e-payment solutions in Central and Eastern Europe. During his tenure, Transaction Systems has expanded into new product areas to include branch and retail automation as well as digital transformation solutions.

Panagiotis Chalkias is an experienced leader and recognized expert in the field of e-payments. In his professional career, he held management positions at international system integrators and IT, accumulating extensive expertise in the electronic payments space paired with a thorough understanding of the retail payments ecosystem.

“We are certain that Panagiotis will be an asset in the years to come. His long-standing experience with our organization will allow TRSYS to provide our customers with the high-quality products and services they deserve while enabling us to achieve our goals for growth as a company”, said Martin Loeffler, Global CEO, Transaction Systems.  “Having already succeeded in establishing the company as a leader in the e-payments industry, Panagiotis is the ideal professional to lead the continued expansion of our operations across Central and Eastern Europe; he has a deep understanding of TRSYS values and purpose as well as a clear vision of the impactful role that TRSYS can continue to play in the region.”

Commenting on his promotion, Panagiotis Chalkias has said: “I am thrilled to take on this enhanced responsibility. Our company is perfectly positioned and has the best-in-class employees to keep on to achieve our goals for growth, enhance our portfolio, and bring it to the next level. I will put all my efforts into further building our already established track record.”

 

As the digital age advances, the banking sector is also evolving, with branch transformation being a key area. The pandemic has accelerated this process, creating both challenges and opportunities for banks. Transaction Systems’ CEE CEO, Panagiotis Chalkias’ keynote speech during the BankTechShow, elaborated on the drivers and challenges of branch transformation and the branch of the future, with new service delivery models.

While many have predicted the disappearance of bank branches, according to Panagiotis Chalkias they will be with us for a long time to come, but their form, size, and function are constantly evolving. The transformation of bank branches is a major challenge of the digital age, and it’s important how it happens.

The transformation aims to ensure that, in addition to new service channels, branches meet the needs of different customer segments, enabling banks to retain their current customers while attracting new ones. Matching the shape and size of branches to different customer needs and harmonizing the channel mix is not an easy task.

Branch transformation is a systematic project to transform traditional branch operations into a customer-centric and user-friendly banking experience that is seamlessly integrated into a true omnichannel process, supported by technology.

“The key to transformation is how branches can become an integral part of the bank’s overall strategy” –  highlighted Panagiotis Chalkias.

Chalkias also highlighted the challenges of “omnichannel integration”, stressing that true omnichannel banking is achieved when all the different channels can work within a single framework. This is necessary to ensure the consistent value proposition and rules that customers expect.

“We have heard the term “omnichannel integration” too often. In theory, hundreds of people claim to be implementing omnichannel banking – in practice, I know of only 3-4 platforms that actually do it.” -said Panagiotis Chalkias.

Banks are constantly changing and improving in different segments of their business. If there is no single framework in which to plan and execute these changes, they will have no meaningful impact.

Another challenge of branch transformation is the re-design and re-sizing of the branch’s image. In many cases, these projects are limited to updating the decor, lacking a strategic and integrated approach.

However, Panagiotis Chalkias also acknowledged that there is no real golden rule when it comes to redesigning the branches. We can expect to see different types of branch models depending on the location and segment.

On the subject of technologies related to branch servicing, the Transaction Systems head highlighted the development of automated points of contact.

“In the past, the automated point of contact was just an ATM. Today it can be a machine that prints your new bank card on the spot. Today, recycling terminals are standard and devices specialized for large retailers are available to facilitate bulk deposit.”

As for the branch of the future, in addition to the 24-hour zone and the self-service transaction zone, it is expected to include a “smart” reception desk to help guide customers and a virtual showroom to help them experience products and services.

In addition, new approaches such as “Branch-in-a-box” or “Branch-out-of-branch” models will be introduced, where you can either do 100% of what you would do in a branch yourself or bank staff can take the tools needed to provide essential services with them.

At the end of his presentation, Panagiotis Chalkias also pointed out that branch transformation is not a one-off process, with no fixed start and end date. The biggest obstacles to transformation are legacy systems that can hinder the running of new-generation solutions and traditional procurement procedures and lack of commitment from project members.

In summary, Transaction Systems’ experience shows that branch transformation is not only a technological challenge, but also a strategic one, requiring a holistic approach by banks to meet the needs of the digital age.