Payment technology company Trintech said today it has fixed technical glitches in its hardware products that lowered revenues in the third quarter.
The company reported a fall in third quarter revenue to 11.4 million compared to $15.1 million last year. The company warned in August that revenues would take a once-off charge to compensate customers for technical problems that affected some hardware.
Cyril McGuire, Trintech's chairman and chief executive, Cyril Maguire said the company's business remains "solid" despite a challenging third quarter.
He said the investment in PayWare OpenPay for the emerging unattended payment market, is building customer pipeline and market share.
Commenting on the technical problems Paul Byrne, president of Trintech, said "We have worked closely with our customers during the quarter on the successful resolution of the technical issues that affected certain hardware products and have recommenced product shipments.
We are confident that the operational discussions that have taken place in recent months will form the basis for strong working relationships with our customers moving forward."