VeriFone reports Credibanco order

Source: VeriFone

VeriFone Holdings, Inc. (NYSE: PAY) announced that it has sold more than 18,000 payment solutions in recent months to Credibanco, the card issuer and Visa International-affiliated payment network of Colombia.

Credibanco provides credit and debit card transaction acquiring to banks in Colombia through 53,000 points of sale and a telecommunications network that connects in real time to 17 principal cities of the country and 385 municipalities.

"VeriFone's worldwide leadership in payment technology and reputation for reliability is an ideal match for our goals to expand availability of card payment acceptance to all merchants and consumers who can benefit," said Carlos Andres Lindo, director of Media Access for Credibanco.

Since November, in association with its Colombian partner, Towertech Americas, VeriFone has sold the bank association more than 18,700 payment systems, including the Vx 510, both LAN and dial models, as well as the GPRS wireless version of the Vx 670. The recent orders build on the company's first sale to Credibanco of almost 9,000 in June 2007.

"VeriFone and Credibanco have rapidly forged a strong relationship to deliver advanced payment acceptance capabilities throughout Colombia," said Fernando Lopez, vice president and general manager of VeriFone Latin America and the Caribbean. "We look forward to a strong, ongoing partnership."

Credibanco is an innovator in Latin America and last year joined with CGAP, in a three-year project to extend and adapt its technology and service infrastructure to help Colombia's banks reach low-income customers and equip small merchants with point-of-sale devices. CGAP, the Consultative Group to Assist the Poor, is a global resource center for the microfinance industry housed at the World Bank.

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