VeriFone receives PTS approval; releases contactless card device; extends Nurit line

Source: VeriFone

VeriFone Holdings, Inc. (NYSE: PAY; TASE: PAY) today announced that its Vx Solutions products are the first to achieve product-line compliance with the new MasterCard PTS security specification regarding security of IP-based systems.

The MasterCard PTS (POS Terminal Security) program approval applies to The Vx510 and Vx570 countertop systems, the Vx 610 portable powerhouse, as well as the Vx 670, the industry's smallest all-in-one wireless handheld payment device for new market applications such as pay-at-the-table.

"VeriFone's commitment to meeting the strictest security requirements is reflected in meeting product-line compliance with this new security standard," said Paul Rasori, VeriFone vice president of Global Product Marketing. "With the Vx platform's exceptionally powerful 32-bit ARM 9 processor, even transactions with the most advanced security can be completed at industry leading speeds."

VeriFone's security solution, Secure Socket Layer version 3.1 (SSL ver. 3.1) with advanced 128-bit AES/3DES encryption ciphers and 1024/2048-bit RSA public-key cryptography, provides an effortless path for all partners to come into compliance with MasterCard PTS program requirements. Vx Solutions delivers a complete portfolio of solutions across all vertical markets - core to flexible; fixed to transportable to handheld; clerk facing to customer facing. It leverages the Verix platform to give customers and partners one platform of devices, software, and programs that delivers infinite market opportunities.

Separately, VeriFone Holdings, Inc. (NYSE: PAY; TASE: PAY) today announced an external contactless card acceptance device. The new QX100 from the leading payment solutions provider offers a cost-effective migration path for merchants to adopt the increasingly popular "tap and pay" payment technology now being offered by major banks.

Based on successful, field-proven payment solutions technology, the QX100 is a fully programmable contactless card reader utilizing a high performance, 32-bit ARM processor. The QX100 is capable of high speed encryption using modern encryption algorithms and utilizes downloadable software to meet evolving contactless card payment security specifications.

"We believe that acquirers, ISOs and merchants will view VeriFone's introduction of the QX100 as evidence that contactless has entered the mainstream," said Paul Rasori, VeriFone vice president of Global Product Marketing. "With Visa, MasterCard and American Express each aggressively promoting contactless payment cards and fobs to consumers, we believe merchants are ready to adopt the technology if they can obtain systems from trusted leaders who have demonstrated the ability to meet the most stringent security requirements."

The versatile QX100 can be easily connected to existing POS devices and electronic cash registers via RS-232 or USB interface. Designed to meet MasterCard PayPass and Visa specifications for magnetic stripe and chip applications, the QX100 provides state-of-the-art contactless functionality. The stylish, robust reader can be freestanding or mounted and features four standard inclination angles and a large landing zone for consumer ease of use.

The QX100 is being released for evaluation testing now and is expected to receive initial approvals by the end of the year.

Also today, VeriFone Holdings, Inc. (NYSE: PAY; TASE: PAY) today announced it has extended the NURIT line with the introduction of three new systems designed to meet a wide range of secure payment transaction needs.

VeriFone utilized the venue of the world's largest exhibit for smart card and identification products to demonstrate the NURIT line for the first time under the VeriFone brand.

"At CARTES 2006 this week, VeriFone is showcasing an expanded family of payment solutions and services that demonstrates the breadth and depth of this new force in the payment industry," said Paul Rasori, VeriFone vice president of Global Marketing. "This expansion of the NURIT product family demonstrates VeriFone's commitment to offer our customers around the world the flexibility to maintain and enhance their installed base of systems."

VeriFone's vision of creating the world's most comprehensive provider of electronic payment solutions advanced with the recent acquisitions of Lipman Electronic Engineering, which was completed last week, and the former Payment Systems Business of Trintech.

The NURIT 8400 introduced today is a highly flexible countertop payment terminal with a full range of dial-up, LAN and wireless communications choices and a wide variety of device interface options. The secure, reliable and easy-to-use multi-application system is suitable for a wide variety of retail locations, from small and medium-sized businesses to department stores and multi-lane outlets. In addition to magnetic stripe and smart card EMV-based credit and debit transactions, it supports value-added services, such as loyalty programs, gift cards and prepaid services.

VeriFone also introduced the highly secure and fully programmable NURIT 293 PIN pad. Featuring an EMV 2000 smart card acceptor and magnetic stripe card reader, the NURIT 293 with high speed ARM processor integrates with third-party POS and electronic cash register (ECR) systems for smooth and economical migration to PIN-based EMV credit and debit transactions.

The third system introduced today, the NURIT 2930, also provides an EMV migration solution for proprietary ECRs and other systems that lack communications capabilities. The NURIT 2930 includes a modem, in addition to EMV and magnetic stripe acceptance. The system incorporates a connectivity hub for enhanced flexibility, modularity and clutter-free convenience for virtually any retail environment.

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