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Monday, November 12, 2001
Blackstone (, one of the nation’s leading electronic providers of prepaid telecommunications products, is now offering utility companies and other consumer service providers the ability to have their customers pay their bills via the Blackstone POS terminal. Companies providing services that are traditionally billed on a monthly basis can now issue their customers a personalized plastic card with information stored on the magnetic stripe. Customers visit a Blackstone POS merchant; present their utility card for swiping; pay their outstanding balances, along with their other purchases, at the register; the merchant accepts payment and electronically submits payment information to the service provider for credit. According to John Marshall, president of Blackstone’s Prepaid Systems Group, “The Blackstone payment system is a first of its kind. It drives new traffic to the retail location and increases impulse purchases at the point of sale. Plus, everything is done in a matter of seconds.” Blackstone designed the patented software at the request of a residential telecom provider in Panama. Due to currency fluctuations and administrative costs, the company believed that by offering customers this option, they would reduce bad debt and maintain their customer base. A complete roll out of the Blackstone POS terminal with the patented utility software is scheduled for the first quarter of 2002. Blackstone is one of the country’s largest providers of prepaid telecommunications products and services with over 300,000 retail locations nationwide. By successfully integrating the processing of all major credit cards (MasterCard, Visa, American Express & Discover Card) and ATM/bank/EBT cards with the sale of prepaid cellular and prepaid calling cards into one, easy-to-use POS terminal, Blackstone POS, is revolutionizing the electronic transaction industry. For more information on Blackstone’s products and services, call 1-800-639-9590 or visit Blackstone POS are trademarks of Blackstone Communications Co.; US and foreign patents pending.