The Toronto company said it wants to give businesses, of any size, the convenience of a wireless POS system without having to invest thousands in infrastructure, just to get started. "With the wirelesspay service, all you need is a standard WAP-enabled wireless device such as a cellular phone, RIM, Palm or PocketPC," said eKosmos’ president Konstantine Balkos.

Taxi and limousine drivers to couriers and contractors will be able to accept and process credit-card payments in real time by simply following the easy-to-use menu on their WAP-enabled device.

In essence, WAP devices become mobile cash registers and credit card swiped point-of-sale systems, according to company's president. Through eKosmos's SecureGate gateway, credit-card transactions from a wireless device can be securely processed. Once the transaction reaches the SecureGate gateway, it is then routed to the appropriate financial institution for authorization. Immediately, a merchant's account is updated and the consumer's credit card is billed. By logging on to wirelesspay.ca, merchants can view real-time reports of all processed transactions as well as eKosmos will issue a monthly e-mail or letter-mailed statement, summarizing all transactions.

Merchants can choose from a range of monthly packages, priced according to the number of transactions required. After establishing a merchant account, involving a one-time set-up fee, an unlimited number of users can use the system with no additional charge.

• Real-time credit card transactions
• 128-bit SSL, WTLS encryption
• Pre-authorization feature
• Automatically calculates taxes
• Tracks and processes cash and account payments

After the September launch, the company has plans to incorporate the processing of debit cards and checks into the system.