POINT-OF-SALE (POS) payment processing technology will soon be available in China, replacing the more restrictive and cost prohibitive traditional communication networks.
Under a co-operative agreement announced yesterday, Visa and Metricom Inc will establish and operate wireless data communication networks for point-of-sale payment processing in existing and emerging markets.
The two companies will identify high priority markets in the Asia-Pacific. High on the list will be China, Vietnam and Thailand - where telecommunications infrastructure is less developed - and the Philippines and Indonesia.
Metricom's wireless technology, MicroCellular Data Network (MCDN), will use modems to send and receive transaction data to Visa's global payment network, VisaNet.