VeriFone Provides Contactless Payment Software and Systems for New York City Subway Trial
San Jose, CA, November 27, 2006–VeriFone Holdings, Inc. (NYSE: PAY) today announced that it is providing the integrated payment solutions being used in the contactless subway trial underway in New York. VeriFone’s solution includes the VeriFone Secura system with contactless smart card capabilities, together with management software.
The current pilot is being managed by the New York City Metropolitan Transportation Authority and involves the participation of VeriFone, Citibank and MasterCard (NYSE: MA). The pilot began this summer and involves 80 systems installed at various Metro stations. The pilot is open to any of the 50,000 Citibank contactless customers with a Citi credit and Citibank Debit payment tag, or Citi credit or Citibank Debit MasterCard card with the PayPass logo.
Douglas G. Bergeron, chairman and CEO of VeriFone, said: “This is a prime example of VeriFone’s future, where we will increasingly be providing the integrated payment software and related technology for deployment in non-traditional locations such as turnstiles.”
The VeriFone Secura unattended payment system is a highly secure solution set that is currently used in the London Underground, kiosks and vending machines throughout Europe. The Secura product was originally developed by Dione plc, a former subsidiary of Lipman, and is now a strategic component of the VeriFone product portfolio.
About VeriFone Holdings, Inc.
VeriFone Holdings, Inc. (“VeriFone”) (NYSE: PAY; TASE: PAY) is the global leader in secure electronic payment solutions. VeriFone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. VeriFone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide. Contactless Payment Could Get a Boost from Mass Transit, CardLine, 11/30/06