POSERA Announces a Second SecureTablePay Distribution Agreement with a Leading US Payments Processor

TORONTO, Sept. 8, 2016 /CNW/ - Posera Ltd. (TSX : PAY) ("Posera" or the "Company"), a leading provider of software solutions for the hospitality industry, announces it has signed its second SecureTablePay non-exclusive distribution agreement with one of the largest payment processors in the United States.  The agreement will generate initial license fees and monthly recurring revenues for POSERA.

Posera expects the solution to be available once technical certification is completed in approximately 3 months. Upon completion of the technical certifications and when the US Payment Processing partner is ready to launch the SecureTablePay solution, Posera and the US Payment Processor will circulate a joint press release.

SecureTablePay application enables safe, secure and stable "Pay-at-the-Table" ("PATT") capabilities. Posera has many years of Canadian and international success in the EMV Chip and PIN1 business. SecureTablePay has a unique and leading architecture, which provides both convenience and security. The SecureTablePay platform is already integrated to most of the leading Restaurant Point-of-Sale applications worldwide. SecureTablePay is:


Unique Architecture & Rapid Implementation: It is the only semi-integrated EMV1 and Contactless application allowing restaurant wait-staff to totally manage payments, split checks, tips and tables, remotely from a wireless payment terminal. SecureTablePay also incorporates Chip and Signature, PIN based Debit, Gift Cards, Tap and Pay by Phone with end-to-end encryption for the US market. The semi-integrated approach requires less development effort, and a reduced Payment Card Industry ("PCI") scope, enabling a vastly compressed time to market.


Secure: SecureTablePay provides the extraordinary convenience of paying at the table for both restaurant wait-staff and their customers. The card never leaves the Cardholder's hands reducing the risk of fraud for both the merchant and cardholder. It also provides a secure solution to the enormous security challenges and financial risks that merchants now face due to the October 2015 liability shift imposed by the payment processors. This shift transfers the liability to the retail / restaurant merchants for chargebacks relating to fraudulent transactions, where previously chargebacks were a cost incurred by the processor.


Market-Ready: SecureTablePay is integrated to 20 of the largest Restaurant Point-of-Sale applications worldwide and our solution is already installed in several thousand hospitality merchants across Canada.


Independent Evolution: Secure Table Pay allows the POS and Payments Processing to evolve independently in this dynamic industry without the need for re-certification as the US industry evolves through its payment security process.


Improved Efficiency and Profitability: Secure Table Pay improves speed and accuracy in the Restaurant reducing Tip Adjust errors, improving wait-staff efficiency while increasing Table Turn Rates and profits for merchants, leading to a better overall customer experience.


The market opportunity for this solution is immense, with over 635,000 restaurants in the United States that would benefit from the use of the SecureTablePay technology.

Posera's CEO Loudon Owen said, "The historically pervasive fraud and theft of customer identity is simply unacceptable and unfair to merchants and customers alike. Our solution wages war on the criminals and puts the power and control back in the hands of the merchants and consumers. We are particularly pleased to have completed our second SecureTablePay distribution agreement with another prestigious US payment processor and further confirms acceptance of our leading solution. We anticipate that once the technical certification is complete and our partners sales force is up and running, we will accelerate our penetration into the US marketplace. Owen added, "Once customers and merchants realize how easy and convenient it is to pay-at-the-table, we expect this will become the "Standard" that customers will demand."


Industry Terminology Explained: EMV ("Europay, MasterCard and Visa") is a technical standard for smart payment cards, payment terminals and ATM's ("Automated Teller Machines"). Payment cards that comply with the EMV standard are often called Chip and PIN or Chip and Signature cards, depending on the exact authentication methods required to use them. Chip and PIN is the most secure type of technology for credit and debit cards transactions. Rather than physically signing a receipt for identification purposes, the user enters a four-digit Personal Identification Number ("PIN"). This number must correspond to the information that is stored on the Chip. Chip and PIN technology makes it much harder for fraudsters to replicate, therefore if a customer's card is stolen, there will be no fraudulent purchases unless the criminal knows their four-digit PIN.



Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera's full service solutions include SecureTablePay, which is an EMV compliant Pay-At-The-Table ("PATT") application. Posera's MaitreD'TM and FingerPrintsTM restaurant management systems offer a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support. Posera's solutions are deployed globally including across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.

Posera Ltd.'s shares are traded on the Toronto Stock Exchange under the symbol "PAY".

More information about Posera can be found on the Company's website at www.posera.com or under the Company's profile on SEDAR at www.sedar.com.

Forward-Looking Statements 
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management.  The forward-looking statements are not historical facts, but reflect Posera's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in the Annual Information Form to be filed on March 30th 2016 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law. 

SOURCE Posera Ltd.

For further information: Kevin Mills, Chief Financial Officer, 1.416.703.6462 ext. 2203, kmills@posera.com, www.posera.com; Investor Relations Contact: Caleb Jefferies, 1.604.684.6730

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