20 August 2017
Find out more

VeriFone meets Canadian chip card specs

26 June 2006  |  1748 views  |  0 Source: VeriFone

VeriFone Holdings, Inc. (NYSE: PAY) today announced that its Vx 510 countertop and Vx 610 wireless payment solutions have been certified as meeting new chip card device requirements put forth by the Interac Association, Canada's national industry association for shared financial services.

The VeriFone systems are the first card acceptance devices to achieve Interac chip card certification, demonstrating the company's commitment to assist Canadian banks in immediately deploying compliant devices in support of the mandated mass market upgrade of all currently deployed POS devices. The Interac Association has established a goal of initiating the first chip card transaction in 2007 and will impose financial sanctions beginning in 2010 on member banks who do not meet minimum required levels of chip conversion.

"VeriFone is eager to work with Canadian banking organizations and merchants to ensure a smooth migration to the chip card standard, which will provide consumers with greater security and access to new card services," said Jeffrey Dumbrell, general manager of VeriFone Canada. "VeriFone is a global leader in chip card acceptance solutions and is bringing established technology to the Canadian market."

The Vx 510 and Vx 610 are members of Vx Solutions, VeriFone's next-generation payment systems family that incorporates a faster 32-bit processor, high security, consistent user interface, and sleek designs.

The Vx 510 countertop payment system provides extraordinary performance for credit and debit payment, with support for magstripe, chip card and contactless smartcard transactions and the ability to add a value-added application such as gift card or telco top-up. It is part of a new generation of VeriFone solutions for international markets.

The Vx 610 features the same sleek, compact design of the Vx 510, but in a portable, battery-powered form factor that uses wireless technologies, including Wi-Fi, CDMA and GPRS. It's long battery life and high capacity enables Vx 610 to open up new market opportunities by extending countertop payment capabilities to wherever consumers are, whether shopping at open markets or buying home-delivered products and services.

VeriFone has delivered payment system solutions to customers in more than 100 countries worldwide. For 25 years, VeriFone systems and solutions have delivered the speed, convenience and security of electronic payment to millions of businesses worldwide.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.worldpaymentsreport.comvisit www.abe-eba.eu

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
9431 views comments | 23 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
8019 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
7560 views comments | 10 tweets | 7 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
7092 views 0 | 2 tweets | 1 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
6700 views comments | 14 tweets | 12 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job