Long Beach, November 6, 2000 — Shift4 Corporation, developers of the very first PC-based credit card payment solution, will show their latest payment technology, DOLLARS ON THE NET, at Nation’s Restaurant News’s FS/TEC 2000 in Long Beach, CA. FS/TEC is the foodservice industry’s largest and most comprehensive all-technology tradeshow. Shift4 representatives will be on hand to demonstrate DOLLARS ON THE NET in exposition booth #1357.
What It Is/How It Works
DOLLARS ON THE NET is an Internet payment gateway and application service which allows businesses operating in diverse food service environments to securely process real-time electronic payments, such as credit, debit and private label cards, utilizing the Internet in place of dial-up lines. DOLLARS ON THE NET is hosted at Shift4’s state-of-the-art datacomm center where high-bandwidth connectivity to major bank processing hosts delivers sub-5-second authorizations to POS, PMS, kiosk and wireless order processing applications, eliminating the need for dedicated leased lines.
DOLLARS ON THE NET is enhanced by a browser-based application service called NetAudit™, which allows management to view individual or batched transactions, run .PDF reports, make deposits and access archived data for charge-back defense for all company locations. The DOLLARS ON THE NET platform supports IT’S YOUR CARD®, Shift4’s private label card application, allowing food service operators to issue and manage custom loyalty and gift card programs. Data security and host communications are provided by Shift4’s NetAPI™ software module, which is installed on a company’s POS application server(s).
The Multi-Unit Enterprise
As an alternative to DOLLARS ON THE NET, Shift4’s NetEnterprise™ platform allows multi-unit food service enterprises to host their own ASP/payment gateway. The NetEnterprise solution includes all hardware, software and communications infrastructure required to take the DOLLARS ON THE NET functionality in-house. In doing so, transaction rates are significantly reduced, while giving franchising companies the option of charging their franchisees for payment processing services. As with DOLLARS ON THE NET, Shift4 provides 24/7 technical support for this comprehensive e-payment solution.
How It’s Sold
The DOLLARS ON THE NET service will be marketed by Shift4’s direct sales force, as well as by their growing network of reseller/partners, which includes POS, PMS, kiosk and wireless device vendors. These partners will bundle the DOLLARS ON THE NET service into their applications and operate as authorized resellers. Resellers are charged a one time set-up/interface fee of $175 per merchant with per-transaction fees as low as 4 cents. Shift4 calculates transaction rates by aggregating the transaction volume of a reseller’s entire client base, which provides adequate room for mark-up and allows reseller/partners to generate recurring revenue.
“Food service companies of all types and sizes will benefit from this cost-effective and scalable payment solution,” states J. David Oder, Shift4 president and CEO. “DOLLARS ON THE NET and NetEnterprise enable multi-unit companies to rollout high-speed payment processing and custom loyalty/gift card programs with incredible efficiency and reasonable expense,” Mr. Oder adds.