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 REDWOOD CITY, Calif., Jan. 10 /PRNewswire/ -- VeriFone, Inc. (NASDAQ: VFIC) today announced the availability of point-of-sale (POS) applications that utilize the regional Bell operating companies' Virtual Private Line (VPL) service offering. Designed for the transaction processing industry, VPL is a digital telecommunication service that significantly reduces response times for credit and debit card transactions. Applications for retail stores have been certified by First Data Resources (FDR). Additional retail and restaurant applications from VeriFone are undergoing certification by Card Establishment Services (CES), MasterCard and National Data Corp. (NDC).
 The VeriFone applications enable merchants to take advantage of VPL services, which provide leased-line performance at costs typically associated with dial-line telephone service. Credit authorization response times for transactions sent over conventional dial-up telephone services average 14 to 16 seconds. Response times for the same transaction sent via VPL average from 5 to 8 seconds, however, even faster times have been achieved with VPL. Rich Eyberg, senior vice president of merchant services for FDR, said, "We were able to reduce the average transaction time from 5 to 8 seconds to 2.6 seconds because of close cooperation between the regional Bell operating companies, the interexchange carrier, VeriFone, and the FDR certification staff." FDR began implementing a 10-site, multi-regional pilot program with three customers in December 1993.
 VPL uses either digital data-over-voice (DDOV) or integrated services digital network (ISDN) technology to send both data and voice transmissions simultaneously over a single telephone line. VeriFone's new applications conform to Belcore's T3POS specification for DDOV and ISDN transmissions. The T3POS protocol is an open standard developed specifically for interfacing POS transaction systems with X.25 wide area networks.
 A Digital-Ready Strategy
 "VeriFone is committed to being at the forefront of the Transaction Automation industry -- to drive technologies and standards that enhance the delivery of effective solutions to the market," said Roger Bertman, VeriFone's vice president and general manager of marketing and the Network Systems Division. "Our new T3POS-compliant applia?tions reflect this commitment and are part of a broader digital-ready strategy, under which VeriFone will work proactively with its industry partners to define, promote and implement standard digital interfaces that streamline transaction delivery between POS systems and payment networks. This in turn will help bring the cost and performance benefits of emerging communications technologies to a broader number of issuers, acquirers and merchants throughout the world."
 According to Bertman, VeriFone has developed T3POS software modules for the company's TRANZ(R) family of transaction systems and is integrating these modules with other VeriFone applications to make them digital-ready. VeriFone expects to complete development of T3POS software modules for its OMNI(TM) family in the first quarter of 1994. The modules will be made available to the public for third-party integration with applications running on VeriFone systems.
 The Company
 VeriFone, Inc., based in Redwood City, Calif., 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's 30 facilities -- including regional offices, development centers, and manufacturing and distribution centers -- are located throughout the United States, Europe and Asia. To date, VeriFone has shipped more than 3.3 million Transaction Automation systems, which have been installed in more than 70 countries. The company's 1992 net revenues totaled $226.1 million.
 NOTE: VeriFone and TRANZ are registered trademarks of VeriFone, Inc. OMNI is a trademark of VeriFone, Inc.
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 /CONTACT: David Barnes of VeriFone, 415-696-8823; Beth Pampaloni of Wilson McHenry, 415-592-7600, for VeriFone/

CO: VeriFone Inc. ST: California IN: CPR TLS REA SU:

TM -- SJ002 -- 0607 01/10/94 13:01 EST
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Publication:PR Newswire
Date:Jan 10, 1994

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