On Track Innovations and VeriFone demonstrated their new reader systems at CARTES in Paris that will allow an easy upgrade to contactless payment technology for retailers using existing VeriFone systems.
Solution Targets VeriFone V(x) 510 and V(x) 610 Payment Systems
FORT LEE, N.J.– On Track Innovations Ltd, (OTI) announced that together with VeriFone Holdings, Inc. it will demonstrate contactless enabled VeriFone V(x) 510 and V(x) 610 payment systems at the Cartes 2006 Show in Paris, November 7-9 in OTI’s Booth 3 E 088 and VeriFone’s Booth 4 L 014.
The P4V was developed as an extension module for VeriFone’s V(x) 510 countertop multi-application payment solution and the V(x) 610 portable wireless system. With the new solution, merchants can quickly upgrade their existing VeriFone systems to support contactless payments by attaching the P4V. The reader generates power directly from the VeriFone system, eliminating the need for external power.
The contactless solution is compatible with contactless payments programs, both for EMV (Europay, MasterCard Visa) and non-EMV markets, ISO 14443 and MIFARE.
Paul Rasori, vice president of Global Product Marketing with VeriFone said, “We welcome OTI’s efforts to provide flexible contactless options to merchants utilizing V(x) Solutions products.”
Ohad Bashan, Chief Marketing Officer, OTI, stated, “we are pleased to work with VeriFone on this unique product built specifically for the V(x) Solutions line. We are looking forward to continue work on future projects.”
Established in 1990, OTI designs, develops and markets secure contactless microprocessor-based smart card technology to address the needs of a wide variety of markets. Applications developed by OTI include product solutions for petroleum payment systems, homeland security solutions, electronic passports and IDs, payments, mass transit ticketing, parking, loyalty programs and secure campuses. OTI has a global network of regional offices to market and support its products. The company was awarded the Frost & Sullivan 2005 and 2006 Company of the Year Award in the field of smart cards. For more information on OTI, visit www.otiglobal.com.
About VeriFone Holdings, Inc. (www.verifone.com)
VeriFone Holdings, Inc. (“VeriFone”) (NYSE: PAY; TASE: PAY) is the global leader in secure electronic payment solutions. VeriFone provides expertise, solutions and services that add value to the point of sale with merchant- operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. VeriFone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.