Printer Friendly

VERIFONE INTRODUCES TURN-KEY CREDIT AND DEBIT CARD SOLUTION FOR SUPERMARKETS, DRUG STORES AND OTHER MULTI-LANE RETAIL CHAINS

 REDWOOD CITY, Calif., April 20 /PRNewswire/ -- VeriFone Inc. (NASDAQ-NMS: VFIC) today announced a complete in-lane credit and debit card solution for supermarkets, drug stores and other multi-lane retail chains. This Transaction Automation solution, which is central to VeriFone's strategy for accelerating penetration of the multi-lane market, consists of the new shopper-activated OMNI(TM) 490 transaction system, VeriFone Payment System (VPS) controller software, turn-key project management, service and support.
 "Our new solution -- combined with VeriFone's industry leadership, financial stability and proven strength in high-volume manufacturing and on-time delivery -- strongly positions us to provide multi-lane retailers with in-lane electronic payment processing for their customers," said Roger Hitchcock, general manager of VeriFone's Retail Business Unit. "We've worked closely with major supermarket chains to develop a complete offering that meets the needs of both shoppers and store management. Our 'one stop shopping' approach eliminates the headaches and hardware/software compatibility problems that can occur with multi-vendor installations. It also assures retailers of a clear migration path for the future."
 Kroger Concludes Successful In-Store Trials
 The Kroger Co. recently conducted successful in-lane evaluations at two stores in the Louisville, Ky. area. The 10- and 12-lane installations include OMNI 490 systems connected to backroom personal computers running VPS controller software. The in-store systems are linked via satellite to the regional payment network.
 "We wanted to offer shoppers the speed and convenience of in-lane credit and debit purchases and felt that VeriFone's total system approach -- hardware, software, service and support -- was the way to go," said Don Emrah, manager of store operation services for Kroger. "VeriFone personnel worked with us every step of the way. They were on site during start-up, training our clerks, monitoring the systems and making sure everything ran smoothly. Our shoppers are enthusiastic about their new payment options, and we've seen a noticeable increase in the number of card transactions. The pilot program has been such a success that we plan to install the systems in all 81 Kroger stores in our area by Thanksgiving of this year."
 A Shopper-Friendly System
 The OMNI 490 is an easy-to-operate, shopper-activated system that performs electronic credit and debit card authorization and draft capture at the point of sale. Like an automated teller machine (ATM), the OMNI 490 prompts shoppers through each step of a payment transaction, telling them when to slide their cards through the magnetic stripe reader; when to key in their personal identification numbers (PINs), if necessary; when to enter their cash-back amounts, if desired; and when to press the enter key to initiate a transaction. Keys are clearly labeled with the functions they perform. In addition to accepting payment cards, the OMNI 490 can support check verification and check guarantee applications. It can also support frequent-shopper applications that build customer loyalty and promote sales of certain products.
 VeriFone Payment System Manages Transactions and Store Operations
 Linking the OMNI 490 systems to a local area network (LAN) is the VeriFone Payment System, full-featured, PC-based controller software for managing payment transactions and other in-store operations.
 VPS automates transactions initiated on the store's OMNI 490 systems. It also serves as a network controller, linking the OMNI 490 systems and managing the flow of payment data between the store and regional or national payment networks.
 Additionally, VPS is a versatile in-store tool that helps managers analyze transaction activity across all lanes. It can display the real- time status of the processor network link and each lane's payment system. VPS can organize information into a variety of detailed reports, including a complete log of all transactions, with dates, times, payment types and amounts. Employee record keeping can also be performed, allowing managers to maintain permanent records of sign-on and sign-off times. Users can generate host settlement reports, which are invaluable for reconciliations. Report contents can be easily modified to suit individual store needs.
 A Flexible Solution for Current and Future Needs
 The OMNI 490 systems can be configured in two ways:
 -- Stand-Beside -- In this configuration, the systems are linked to a payment network operating independently of the store's registers. Running on a UNIX-based PC, the VeriFone Payment System provides a backroom controller. This approach gives retailers the benefit of an on-line electronic payment system without having to replace existing equipment.
 -- Integrated -- Here, the OMNI 490 systems connect directly to IBM 4683 or other registers, which use the existing store controller to communicate with the payment networks. All sales data entry is performed through the registers, eliminating the need for clerks to enter card transaction dollar amounts twice. The registers then can handle the printing.
 The OMNI 490 is fully compatible with all VeriFone peripherals, including roll and slip printers and cashier pads. An optional mounting pedestal is also available.
 Comprehensive Project Management, Service and Support
 VeriFone's turn-key project management provides customers with a single point of contact. The assigned project manager can coordinate all phases of the installation, from systems definition through post- sales support. Customer services include site planning, deployment and installation, custom application software development, clerk and store manager training, equipment repair and replacement and communications protocol support.
 Easy to Customize Applications and Develop Support
 Many of the OMNI 490's operating parameters, such as payment options and screen displays, can be configured using the keypad, without the need for application reprogramming.
 The OMNI 490 runs in the TXO(TM) operating environment, which lets programmers create and modify applications using the industry-standard C language. TXO comes with pre-coded modules, which simplify and accelerate the application development process.
 Price and Availability
 The OMNI 490 system and VeriFone Payment System are available now. The OMNI 490 is priced from $455 to $540, depending on quantity and memory configuration. VeriFone Payment System is priced from $1,000 to $2,000, depending on quantity and the accompanying applications. VeriFone products and services can be purchased outright or financed through leasing, floor planning and other financing programs available from VeriFone Finance, a privately held corporation providing flexible financing exclusively for VeriFone systems.
 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, healthcare and government markets. The company has more than 30 facilities -- including regional offices, development centers, and manufacturing and distribution centers -- located throughout the United States and in or near Frankfurt; London; Madrid; Milan; Paris; Singapore; Sydney; Taipei and Kaohsiung, Taiwan, R.O.C.; and Bangalore, India. To date, VeriFone has shipped more than 2.8 million Transaction Automation systems, which have been installed in over 70 countries. The company's 1992 revenues totaled $226.1 million. VeriFone was named one of the 200 best small companies by Forbes in 1991 and 1992
 VeriFone is a registered trademark of VeriFone Inc. OMNI and TXO are trademarks of VeriFone Inc. Other products are trademarks or registered trademarks of their respective owners.
 -0- 4/20/93
 /CONTACT: David Barnes of VeriFone, 415-696-8823; or Beth Pampaloni of Wilson McHenry, 415-592-7600, for VeriFone/
 (VFIC)


CO: VeriFone Inc. ST: California IN: CPR SU: PDT

TB-SG -- SJ003 -- 8047 04/20/93 12:02 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 20, 1993
Words:1176
Previous Article:AGRICULTURAL MINERALS CO. REPORTS EARNINGS
Next Article:TORCHMARK CORPORATION REPORTS FIRST QUARTER EARNINGS
Topics:


Related Articles
WORLD'S FIRST COMMERCIAL APPLICATION OF NEURAL NETWORK CHIP READS CHECKS LIKE THE HUMAN EYE
VERIFONE'S PNC+PLUS(TM) SOFTWARE INTEGRATES DOS-BASED COMPUTERS WITH VERIFONE TRANSACTION AUTOMATION SYSTEMS
VERIFONE AND NTN SIGN RESELLER AGREEMENT TARGETING MULTI-LANE RETAIL MARKETS
FDR CERTIFIES VERIFONE POINT-OF-SALE APPLICATIONS FOR VPL DIGITAL TELECOMMUNICATIONS SERVICE
CES MULTI-LANE SOLUTION SIGNIFICANTLY REDUCES AUTHORIZATION TIME AT SUTTON PLACE GOURMET; A VARIETY OF MULTI-LANE SOLUTIONS AVAILABLE
VERIFONE TRANZ(R) 460 PAYMENT APPLICATION AWARDED CLASS-A CERTIFICATION BY FIRST DATA CORPORATION
VERIFONE DELIVERS EVEREST(TM) SHOPPER-ACTIVATED PAYMENT SYSTEM TO A&P AND H-E-B
MONDEX EXPECTED TO GAIN WORLDWIDE COMPATIBILITY WITH VERIFONE SYSTEMS
VERIFONE TO USE BUYPASS AS TEST SITE FOR OMNI(TM) 470
Payment Leaders Introduce LaunchPAD - the Industry's First Complete Program to Help Banks Harness Potential of Pre-Authorized Debit.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters