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Turning ITSO STR into Digital Cash

TransaXiom, a UK company dedicated to reinventing payment is pleased, to introduce ITSO Digital Cash. By combining their award winning Digital Cash technology alongside their newly certified ITSO CMD2 Card, ITSO STR balance can now be shared between conventional ITSO and non-ITSO payments such as parking, coffee and games. Single balance, two ways of paying, hence the name ‘Janus’ CMD2 card after the mythical Roman god of journeys and exchange.

Normally, a merchant would need an iSAM to receive ITSO Digital Cash but TransaXiom has found a way to eliminate the iSAM and yet still allow fast, guaranteed, online or offline payments. Merchants can download the terminal app onto their NFC mobile phone and register online with ITSO card issuers to immediately start accepting payments. The terminal code may also be deployed on web sites and existing payment terminals. Vending machines and other non-manned service points may also integrate the terminal code into their system and start collecting ITSO Digital Cash payments for good and services rendered.

TransaXiom is working with ACT to offer this new flexible payment capability to all their customers by providing a new payment service that manages all transit and non-transit transactions in full compliance with ITSO rules and EU eMoney regulations. Using ACT’s new Retail Cloud POST service, customers will be able to ‘top-up’ ITSO STR funds directly from cash on the high street or from accounts using their NFC mobile phone acting as a personal cashless ATM.

Cash is going though a quiet revolution. The foundations have been laid for the deployment of ITSO Digital Cash beyond transit, to many new and exciting application areas. TransaXiom’s unique Janus CMD2 card gives card issuers a certified, high performance ITSO card with the added potential for extra revenue generation opportunities from all travellers by giving customers a fast and convenient way to spend their Digital Cash.

For further information, visit us at www.TransaXiom.co.uk or contact Ram Banerjee on +44 1635 865614 (Ram@TransaXiom.co.uk).