US e-payments technology vendor Verifone has won a contract to supply 50,000 payment terminals to ICICI Bank, the largest private sector bank in India.
ICICI Bank is deploying VeriFone's countertop payment terminal Vx 510, with multiple applications installed, including credit, debit, EMV.
William Nichols, VP, emerging markets and international marketing, Verifone, says ICICI is aggressively promoting the adoption of electronic payment by its retail customers.
"The large memory capacity of VeriFone's Vx 510 allows ICICI to roll out multiple applications in various configurations to meet the needs of different merchant segments," he adds.
VeriFone says it has been working closely with ICICI since the bank began developing its merchant acquiring business, and has previously delivered more than 50,000 units of its Omni 3750 payment system.