Tesco leads the market with the first Smart Card implementation using Retail Logic's Smart-Switch

04 November 2002: Tesco, the UK’s leading retailer, has announced that it will implement Retail Logic’s Smart-Switch technology throughout its UK stores.

Smart-Switch is the world’s first EMV (Europay, Mastercard, and Visa) Level 2 accredited chip and PIN (Personal Identification Number) software solution for integrated EPoS (Electronic Point of Sale) equipment. Tesco is currently piloting Smart-Switch in its Hertfordshire (UK) stores and, on successful completion of the pilot plans to deploy it in all of its 730 UK stores.

Ultimately, Smart-Switch will be rolled out in each of the continents in which Tesco operates, including Europe and Asia-Pacific.

Nick Mourant, divisional director of treasury at Tesco, says: "This innovative new technology will improve credit card security for our customers and allow us to continue to deliver great customer service. It will also speed-up the payment process. By utilising Smart Switch,Tesco is ‘future proofing’ its payment card processing systems.We continue to lead the field with the adoption of this new technology."

As liability for most cases of fraud is due to shift from card issuers at the end of 2004, Smart-Solution, which incorporates the EMV accredited integration tool, Smart-Switch, is a complete EFT solution that integrates easily into existing systems. It continues to provide fast transaction times that are comparable to conventional magnetic stripe which is particularly important to multi-lane retailers, such as Tesco, which has 20,000 PoS in the UK alone.

Tim Stratton, Managing Director of Retail Logic, continues, "I am delighted to continue our ten year long relationship with Tesco and be working in partnership to implement this market leading move to chip and PIN acceptance. A critical element of all retailers upgrading to chip and PIN solutions is the availability of ready to use EPoS systems that are accredited to EMV standards. Smart-Solution was designed to meet the needs of retailers globally by avoiding the need for them to become involved in the EMV accreditation process."

About Retail Logic
For 15 years, Retail Logic has been a leading provider of payment processing software for any form of payment card and across multiple platforms, including the Internet. In 2002, the EMV-accredited Smart-Solution was named ‘Most Innovative Product of the Year’ at the Advanced Card Awards in London and ‘Best Software’ at the Cartes Awards in Paris.

Retail Logic is playing a key role as Britain prepares to adopt EMV Chip & PIN. In the UK, users include over 50% of leading retail stores and four of the top five supermarkets. The company also has major initiatives underway across Europe, the United States, ASPAC and Africa.