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VeriFone introduces countertop and mobile payment systems

15 November 2005  |  1923 views  |  0 Source: VeriFone Holdings

VeriFone Holdings, Inc. (NYSE: PAY), announced today the Vx 570, a new countertop payment system in the Vx Solutions line that combines faster processing with flexible memory and communications options to meet global market needs for support of debit, credit, EMV and value-added applications via either dial or IP-based enhanced communications.

The Vx 570 provides merchants with maximum flexibility, superior speed and high performance, with optional memory up to three times greater than the industry standard VeriFone Omni 3750 to run more and varied applications. It includes a "future-proof" communications module that can be configured initially with a dial or a combination dial-and-Ethernet communications capability and can be swapped at a later date. The Vx 570 also features a white backlit display that dramatically improves readability and a USB port that supports secure Flash Load application downloads in as little as five seconds from an industry standard memory stick; the port also supports secure attachment of various USB-enabled peripherals.

"The Vx 570 is a next generation countertop system that provides a migration path for Omni 3750 users," said Paul Rasori, VeriFone vice president of marketing, North America. "Vx Solutions provide seamless backward compatibility so customers can develop, sell and operate our Omni brand systems along-side the newer generation."

The new system provides investment protection to existing Omni 3750 users who can leverage their existing applications while enjoying the added speed and performance benefits of the Vx Solutions platform and the greater flexibility in the number and type of applications they want to operate. Vx 570 supports easy migration of Omni 3750 applications with minimal recertification, providing an easy migration path with greater memory, a faster processor, larger paper roll, enhanced display and the USB port.

The Vx 570 design meets all current requirements for PED devices for secure PIN-based transactions. It utilizes a 200Mhz ARM processor to provide superior speed and performance for supporting value added applications and EMV smart card transactions. The Vx 570 will be in production prior to the end of calendar year 2005.

Separately, VeriFone Holdings, Inc. (NYSE: PAY) previewed today the smallest and lightest fully-functional mobile handheld payment platform in the industry. The rugged, Wi-Fi equipped VeriFone Vx 670 is ideal for virtually any mobile payment application and is highly suited for the growing pay at the table application where systems are handed over to patrons who can readily swipe or insert their own cards and enter PINs.

The VeriFone Vx 670 features the largest user interface on the smallest form factor in the industry by employing VeriFone's exclusive patent-pending "MAXui" design philosophy. Despite its small size, the Vx 670 combines a drop-in load, high-speed thermal printer along with an ATM-style user interface, while offering secure online and offline EMV credit and debit capabilities, a magnetic stripe reader and a chip card reader.

"There's never been anything like the Vx 670, which reflects an unparalleled purpose-inspired design effort that has produced a truly optimal portable payment solution," said Paul Rasori, vice president of global product marketing. "VeriFone consulted in different geographies with numerous design partners and utilized workflow analysis and focus groups to design a fully-functional payment system that sales clerks will want to use, merchants will be eager to exploit, and consumers will embrace."

The Vx 670 utilizes higher-speed 802.11G Wi-Fi for mobile, always-on connectivity, with transactions often taking less than a second to complete, compared to 12-14 seconds or more for dial transactions. The Vx 670 is also the first all-in-one portable payment system to offer WPA-level encryption security, the benchmark for enterprise wide Wi-Fi security.

MAXui: A Revolutionary Design Approach

A product of VeriFone's revolutionary MAXui design process, the Vx 670 is a remarkably light-weight and stylish fully functional mobile payment system with a rugged case that is impact-resistant and spill-resistant to endure the most demanding conditions such as spilt liquids or dropping.

The Vx 670 incorporates a high-contrast, white backlit display featuring a large 128 x 128 pixel viewing area, and large backlit keys, for ease of use under any conditions and a superior consumer-facing interface. The Vx 670 features a tapered design and ergonomically balanced midpoint and will fit in a holster for easy use and transport from base station to point of purchase.

VeriFone designed the printer to tuck neatly and efficiently underneath the display, maximizing the user interface so operators and consumers see only the uncluttered display and keypad, hence the genesis of MAXui. The quiet, fast thermal printer will accommodate a large 40 mm diameter paper roll with trouble-free, drop-in clam shell loading, rear paper exit that provides excellent spill protection and a dual-tear bar so receipts can be ripped in any direction.

Designed to accept all payment types, including PIN debit cards, the Vx 670 comes standard with vertical mag-stripe card reader with contoured blade for optimal ergonomics and card reading. A patent-pending sealed magnetic head assembly prevents spillage or moisture from entering the device through what is traditionally a highly vulnerable area. The EMV-approved smart card slot provides for simplified front-entry loading and is angled downward to further protect from spillage.

The Vx 670 will be available with a base station that includes an easy to use charger for high-volume environments requiring a central location for sharing systems and accommodates a spare battery to ensure uninterrupted operation. It will also support USB and dial-up modem modules for the ultimate deployment flexibility.

"The Vx 670 represents a new dimension in portable payment, with a form factor that is closer to a PDA than traditional POS systems," said Rasori. "But PDA-adapted systems are not well suited to the rigorous demands of payment processing. The Vx 670 has everything merchants need to safely, securely and reliably accept payments from their customers."

Unmatched Security

Security was a paramount design parameter for the Vx 670, meeting all current requirements for PED devices. It utilizes WPA-PSK (pre-shared keys) to protect Wi-Fi transactions. Also, VeriFone's VeriShield architecture prohibits rogue applications from being loaded onto the Vx 670.

A powerful 32-bit ARM9 processor provides the Vx 670 with computing horsepower to rapidly process transactions and run multiple value-added applications. Power is provides with an easily removable, standard 1200 lithium ion (Li-ion) or optional extended life 1800 Li-ion battery for quick swapping.

VeriFone expects to commence an early adopter program for the Vx 670 in the spring of 2006. This program will provide select partners a head start on solution development.

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