Passport Technology Inc. Launches CashValet® in the United Kingdom and Europe and Opens London Office

LONDON, Jan. 4, 2017 /PRNewswire/ -- Passport Technology Inc. today announced the launch of CashValet® and POSpod™, the world's most advanced quasi-cash payment platform purpose-built for the highly regulated gaming and hospitality industries in the United Kingdom and Europe.

CashValet®'s technology stack delivers rich and dynamic feature functionality providing operators tools to better manage Anti-Money Laundering (AML) requirements, responsible gambling initiatives, a robust security layer and the industry's smartest payment infrastructure.

"Together with our partners—and in consultation with many constituents—we developed a solution delivering immediate operational, financial and social impacts to the operators and communities we serve," states Kurt Sullivan, Chief Operating Officer. "Combined with our deep understanding of the marketplace and commitment to forward development, we are excited to establish CashValet® and POSpod™ as the new industry benchmark. We listened to our customers, and our feature set is a direct result of such meaningful collaboration."

CashValet® is purpose-built for highly regulated international gaming jurisdictions where the ability to approve authorizations and dispense cash is just one key element. The CashValet® cloud-based application enables operators to customize the solution in real time with flexible parameters for corporate hierarchy and independent locations. It also allows them to simply and smartly tailor the transaction cycle based on their unique requirements through the industry's finest user interfaces, web portals and POSpod™ attended kiosk.

Combined, the powerful POSpod™ attended kiosk and CashValet® software provides operators a low-maintenance, feature-rich solution running Sagepay P2PE (Point-to-Point Encryption) PCI DSS Level 1 certified proprietary software on Verifone vx820 terminals.  They feature enhanced transaction security outputs, problem gambling assistance options, charitable donation options, Dynamic Currency Conversion (DCC), approval tickets on demand, email confirmations, signature capture, Near Field Communication (NFC) capabilities, bar code scanning, identification scanning, camera and optional interface to loyalty or reward programs.

CashValet®'s cash desk portal and POSpod™ attended kiosk user interfaces deliver lightning-fast transaction speeds with beautifully designed points of interaction for both patrons and operators. Passport Technology Inc.'s ValetFund™ provides initial pre-funds to operators in the United Kingdom and incremental amounts within four hours of approval, 24x7x365.

Cash Valet®'s Sterling and Euro-based currency solution is built on Microsoft Azure Cloud and Window 10 Enterprise software along with Sage Pay P2PE tokenization and Microsoft database encryption. Patron data and card numbers are never transmitted or stored in the clear. Passport Technology Inc. is committed to patron and card data security and does not transfer patron data outside of the UK or EU regions in accordance with privacy regulations.

Passport Technology Inc. reinforced its commitment to customers in the United Kingdom and Europe by opening a London office. Commercially available product demonstrations begin in February 2017 in London.

"We're delighted to see Cash Valet® and POSpod™ receiving so much interest from operators in the United Kingdom and across Europe," states Helen Bowditch, Vice President of International Development. "Our mandate is to always exceed the expectations of our customers while never losing sight of the importance of collaboration and innovation. Our customers have significant and increasing responsibility and, as a trusted partner, we must deliver immediate value."

About Passport Technology Inc.

Passport Technology Inc. is a leading developer of technology-based products and services for worldwide payments, gaming and financial services markets. The company's international portfolio includes attended payment kiosks, cash access systems, server and web-based analytic technology, and interactive content and services.

For more information, please visit passporttechnology.com.

Contact:

Helen Bowditch
Passport Technology Inc.
[email protected]

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SOURCE Passport Technology Inc.