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VERIFONE INTRODUCES MOBILE MERCHANT, A PORTABLE, CELLULAR TRANSACTION AUTOMATION SOLUTION

 VERIFONE INTRODUCES MOBILE MERCHANT, A PORTABLE,
 CELLULAR TRANSACTION AUTOMATION SOLUTION
 REDWOOD CITY, Calif., April 14 /PRNewswire/ -- VeriFone Inc. (NASDAQ: VFIC) today introduced Mobile Merchant(TM), a light-weight, fully portable Transaction Automation solution that operates over cellular telephone frequencies. The VeriFone Mobile Merchant is designed to provide the benefits of on-line credit authorization and draft capture to merchants without access to telephone lines at the point of sale. On-line authorization reduces the merchant's risk of accepting credit cards as a payment option, while electronic draft capture lowers the fees charged by the merchant's bank and provides faster credit for bank card sales.
 "This product is consistent with our commitment to provide a full range of solutions that meet the diverse needs of the Transaction Automation marketplace," said Michael Shade, director of marketing for VeriFone's U.S. Division. "In addition to providing Transaction Automation solutions to merchants without phone lines, Mobile Merchant will enable merchants with phone hook-ups to expand and mobilize their points of sale beyond their existing store front. This will result in new business, an increase in average transaction amounts, and reduced risk, fraud and operating costs. We believe that the successful retailers of the 1990s will be those who creatively merchandise their products and services to their customers, rather than rely on customers to arrive at their doorsteps." Mobile Merchant and Transaction Automation Architecture
 Mobile Merchant is the latest product developed and introduced under VeriFone's Transaction Automation Architecture (TAA), a framework ensuring that all new products and services are part of complete solutions that are properly matched with customer needs.
 Consistent with Transaction Automation Architecture, the Mobile Merchant system provides customers with an integrated solution to a real-world problem -- namely, the need to authorize transactions from remote or mobile locations. Mobile Merchant addresses this need by supporting such diverse businesses as taxi, limousine, ferry and railroad services; parking lots and garages; stadium and amusement park concessions; and special events such as antique shows, art fairs, flea markets, trade shows, conventions, concerts and golf tournaments.
 Since Mobile Merchant is a fully featured Transaction Automation system, the benefits can extend beyond credit authorization to include a variety of other applications for processing both payment and information transactions. Versatile Product Platform
 The Mobile Merchant system consists of an attractive custom-molded enclosure that will accomodate any TRANZ(TM) or OMNI(TM) Transaction Automation system. Regardless of which VeriFone system is used, no changes in any hardware or software are necessary for operation.
 The standard Mobile Merchant configuration also includes a cellular transceiver, rechargeable battery pack, interface electronics and a carrying bag. The system's battery pack accomodates a full day's worth of transactions with a single charge. If there is a brief period of inactivity, a time-out switch shuts off the battery.
 Optional accessories are available to ensure that the benefits of terminal-based authorization and data capture can be delivered to virtually any U.S. location. Turn-Key Solution
 VeriFone recognizes that streamlining the cellular approval and activation process is a key element in delivering effective mobile solutions nationwide. As a result, the company has established service agreements with major cellular suppliers throughout the United States. This allows customers to initiate service with a single call to an 800 telephone number and avoid many of the administrative details usually associated with the activation process. VeriFone then coordinates the process of activating the Mobile Merchant unit. Pricing
 Customers are encouraged to contact their local VeriFone representatives for information about Mobile Merchant solutions and pricing. The Company
 VeriFone Inc., based in Redwood City, is a leading global provider of Transaction Automation solutions used to deliver payment processing and other transaction services to the retail, petroleum, healthcare, government, and vending and food service markets. The company has more that 30 facilities -- including regional offices, development centers, and manufacturing and distribution centers -- located throughout the United States and in or near Frankfurt; London; Madrid; Paris; Singapore; Sydney; Taipei and Kaohsiung, Taiwan, R.O.C.; and Bangalore, India. To date, VeriFone has shipped more than 2.2 million Transaction Automation systems, which have been installed in more than 65 countries. The company's 1991 revenues totaled $187.9 million. VeriFone was recently named one of America's 100 fastest-growing companies by Fortune and one of the 200 best small companies by Forbes.
 -0- 4/14/92
 NOTE: VeriFone Mobile Merchant, OMNI and TRANZ are trademarks of VeriFone Inc. All other brands or products are trademarks or registered trademarks of their respective holders and should be treated as such.
 /CONTACT: Alan Rockhold of VeriFone Inc., 415-696-8823; or Michael Sullivan of Wilson McHenry Co., 415-592-7600, for VeriFone Inc./
 (VFIC) CO: VeriFone Inc. ST: California IN: CPR SU: PDT


MM-DG -- SF006 -- 8094 04/14/92 09:15 EDT
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Date:Apr 14, 1992
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