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Rail CEO Joseph Snell on his new technology that can help you feel safer when paying the bill at restaurants.
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Here is a scary statistic for you seven and 90% of all credit card information that comes from restaurants not on the -- -- It's in restaurants think about it you eat dinner.
A waiter hands you bill and then in the credit card you're she just disappears.
Don't.
In fact in 2010 credit card theft costs Americans.
Thirty sad -- billion dollars.
Fortunately that could soon be a thing of the past rail is a new digital billboard -- offers diners pay at the table solution that will also help cut down -- -- joining me now.
You explain how this.
-- -- -- You know I've got to tell you I don't usually do gadgets or -- on the show.
But I just think this is really compelling.
Because most people don't realize they think that the fraud comes when you're shopping online like -- -- all the time.
But it's really -- when your credit card innocently at a restaurant right how you gonna stop back.
Well we do two things is the checkbook -- -- -- your table just like what you normally see who you up and up there's a little computer and there.
So the computer allows you to split the bill evenly up to nine ways or choose items on the touch screen but what you do Ajax east ask a scan your own hard.
And so we encrypted information so that this.
Restaurant has no information can be stolen by an online hacker and the consumer at the table no longer gives a -- Okay it's -- a couple questions -- any kind of -- one of them but it sounds like it operates by Wi-Fi.
And a lot of hackers get into why price systems you protect protected against fat.
Well we have a high security Wi-Fi in place at the restaurant.
That it's important to know that if somehow some went to -- to infiltrate the Wi-Fi.
There is no credit card numbers anymore within the information system met the restaurant there's just transaction numbers so -- If someone -- to compromise the system Hollywood happily as a list of information it's no use to them.
And -- the other potential problem my size that it costs restaurants five to 600 dollars -- sixty table restaurant per month.
So is that an -- what's the feedback been like and they afford that -- this time when people aren't spending as much money in.
And is the cost just get passed along to you know the customer.
Will we.
Provide a lot of benefits for the restaurant including what we do for consumers but.
We actually saved a normal restaurant more than what the system costs a year what's called PCI audit fees.
And we also mitigate the rest the end because there are no longer -- longer susceptible to theft.
And I PCI -- how many restaurants are you and so far.
What we're just finished in the product now we're doing a series of pilots with some well known customer brands efforts 'cause believe PF chinks in that arts in October.
OK and what that difference now thanks coming -- That you welcome so.
