Pinnacle Partners with ISD
Combating record-high card transaction fees with payment switch technology
ARLINGTON, Texas -- Automation technology specialists Pinnacle Corp. is partnering with ISD Corp., an Irving, Texas-based provider of best-of-breed payment management software that features payment switch technology.
The move comes in response to escalating credit card transaction fees, which in 2005 consumed more than $5 billion in the convenience channel, according to the recently released National Association of Convenience Stores (NACS) State of the Industry Summit in partnership with CSP.
"Our relationship will provide for [image-nocss] our clients an integrated solution between Palm POS and over 100 credit/debit cards, checks, prepaid cards, cellular cards, gift cards and other payment options,reducing a significant portion of the credit or other fees associated with these transactions, said Drew Mize, Pinnacle's vice president of retail solutions.
Arlington, Texas-based Pinnacle's proprietary Palm POS (point-of-sale system) runs under the Microsoft Windows family of operating systems and interfaces with ISD's Payment Switch Framework, a collection of software suites that gives retailers more control over their payment systems.
"We are very pleased to join forces with Pinnacle in providing a timely solution to very real and growing cost issues for retailers," said ISD President and CEO John Filby. "As a result of increasing gas prices, cards are now being used for up to 50% more transactions, and all of the associated costs are coming straight out of the retailer's margin. There are already several retailers using our software to minimize the impact of these cost increases."