VeriFone reports $15m GetNet Tecnologia order

Source: VeriFone Holdings

VeriFone Holdings, Inc. (NYSE: PAY) today announced that GetNet Tecnologia, a Brazilian network services provider, has awarded VeriFone with an order for V(x) Solutions payment systems valued at more than $15 million.

GetNet has been a prime user of VeriFone's state-of-the-art management and IP technologies. Under this new agreement, GetNet is expanding its network by using selected models of the V(x) Solutions family, including the V(x) 510 in both dial and LAN configurations and the V(x) 610 with GPRS connectivity. GetNet has begun the initial deployment of these units, and is supported by Skytef, a VeriFone International Partner.

"VeriFone do Brasil doubled its size from 2005 to 2006 due to our partnership with vertical players such as GetNet," said Heman Molina, General Manager of VeriFone's Brazil operations. "This is a tremendous win for VeriFone based on the ability of V(x) Solutions to fit with GetNet's growth strategy to become the largest processor of electronic transactions in Latin America by 2010."

GetNet provides services for companies such as card issuers and processors, petro distributors, banks, utility companies, and telco top-up distributors, among others, acquiring transactions for private label, credit and debit, check authorization, telco top-up, utility and bill payment, fleet card, and others.

"VeriFone's V(x) Solutions represent an advanced multiapplication platform that will enable GetNet to provide our customers with comprehensive payment capabilities to meet all consumer needs, from purchase of goods to payment of utilities," said Jose Renato Hopf, GetNet's CEO. "V(x) Solutions provides us with the ability to deploy the same applications over varying models of a unified product family."

V(x) Solutions delivers a complete portfolio of solutions across all vertical markets in a variety of configurations from fixed to transportable to handheld. It leverages the Verix platform, enabling customers and partners to deploy hardware, software, and off-the-shelf peripherals for mission critical transactions that open up new market opportunities.

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