Printer Friendly

VERIFONE'S OMNIHOST APPLICATION PLATFORM ENABLES ACQUIRING BANKS IN LATIN AMERICA AND ASIA-PACIFIC TO BUILD TRANSACTION AUTOMATION NETWORKS

 REDWOOD CITY, Calif., March 1 /PRNewswire/ -- VeriFone Inc. (NASDAQ: VFIC) today announced Omnihost(TM), a personal computer-based network application platform that helps acquiring banks in the Latin America and Asia-Pacific regions to build Transaction Automation networks and improve the performance of existing ones. Designed for countries with developing telecommunications services, Omnihost performs many essential system functions including credit and debit transaction switching, authorization of bank cards and proprietary cards, and electronic draft capture. Omnihost supports a wide variety of terminals and networks through message format conversion, thus preserving existing hardware and software investments.
 "Omnihost was developed in response to the growing demand for Transaction Automation in a number of international regions. It will enable acquiring banks in these regions to broaden their merchant base, expand into new markets, and improve the quality and reliability of their services," noted Roger Bertman, VeriFone's vice president of marketing and general manger of the Network Systems Division. "Omnihost reflects VeriFone's ongoing commitment to provide a broad line of Transaction Automation solutions on a global scale, from terminals and peripherals to complete transaction delivery systems." VeriFone products are certified and installed in over 70 countries.
 Enables Distributed Transaction Automation Networks
 While demand for on-line Transaction Automation solutions has escalated worldwide, efforts to deploy systems in many geographic regions are often hampered by inadequate telecommunications networks. The centralized processing approach common in the United States, which relies heavily on continuously available telecommunications links, is often unfeasible or prohibitively expensive in other countries.
 A more reliable approach in regions with weak telecommunications infrastructures is a distributed network, in which system functions such as transaction switching, message format conversion, authorization and draft capture are performed closer to the point of sale or service. VeriFone's Omnihost, designed for such distributed environments, can be configured to function in a variety of ways in a Transaction Automation network.
 Successful Installation
 An Omnihost system has been in operation since November 1992 at a McDonald's restaurant in Caracas, Venezuela, following a successful pilot program. In this installation, Omnihost serves as an on-site Transaction Automation system, performing credit card authorization against a negative file and reconciling transactions with a host computer at the end of the day. Alejandro Rodriguez, manager of operations at the McDonald's restaurant, noted the accuracy and reliability of Omnihost. "We found Omnihost to be very precise, especially when authorizing a card against a negative file," said Rodriguez. "In many instances, our previous system authorized cards that were in the negative file. It also occasionally allowed voided transactions to be posted to a customer's account, which was very embarrassing. I am happy to say that Omnihost has eliminated these problems."
 Omnihost also provided substantial time savings in the end-of-day settlement and reporting process. "Time is very important in the operation of a McDonald's" commented Rodriguez. "Our previous system sometimes required us to remain in the store more than one hour after closing time. Omnihost allows us to send our nightly deposits automatically, without anyone having to be present. Reports and deposit confirmations are easily processed in the morning when we come in."
 Open Systems Approach Facilitates Application Development
 According to Roger Bertman, VeriFone is committed to an open systems approach for all of its products. The company plans to publish an application program interface (API) for Omnihost that will help banks and value-added resellers (VARs) develop their own applications or customize existing applications. Comprehensive first-line technical support is provided by VeriFone regional distributors, with second-line support and application development services available directly from VeriFone.
 Omnihost simplifies the development process through an easy-to-use windowed interface featuring pull-down menus and point-and-click operation. All operational parameters can be modified using a built-in configuration editor. Menus, screen messages, forms and reports are easily customized to suit the language requirements of each country.
 Three Omnihost Models
 Omnihost is available in three models, offering progressively greater functionality:
 -- The Local-Area Network (LAN) Server -- a payment processing system that performs stand-alone authorization against a negative file at the merchant's site.
 -- The Regional Server -- a transaction concentrator that provides message format conversion, and stand-in authorization and electronic draft capture if the remote host is unavailable.
 -- The Super Server -- a switch that directs transactions to multiple issuing hosts.
 Price and Availability
 Omnihost is available now in Latin American and Asia-Pacific countries. Pricing can be obtained from local distributors or VeriFone regional sales offices for Latin America (Miami) and Asia-Pacific (Singapore and Sydney).
 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 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, Republic of China; and Bangalore, India. To date, VeriFone has shipped more than 2.7 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 America's 100 fastest-growing companies by Fortune in 1991, and one of the 200 best small companies by Forbes in 1991 and 1992.
 NOTE: VeriFone and TRANZiT are registered trademarks of VeriFone Inc. Omnihost and OmniNAC are trademarks of VeriFone Inc.
 -0- 3/1/93
 /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

TM-GT -- SJ001 -- 1470 03/01/93 13:43 EST
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:Mar 1, 1993
Words:917
Previous Article:LOUISIANA-PACIFIC WILL CONSIDER STOCK SPLIT
Next Article:SYMANTEC NAMES MARK BAILEY VICE PRESIDENT OF BUSINESS DEVELOPMENT
Topics:


Related Articles
WORLD'S FIRST COMMERCIAL APPLICATION OF NEURAL NETWORK CHIP READS CHECKS LIKE THE HUMAN EYE
VERIFONE ANNOUNCES OMNICHECK(TM) -- A COMPACT ELECTRONIC READER FOR AUTOMATING POINT-OF-SALE CHECK TRANSACTIONS
VERIFONE INTRODUCES THE SC(TM) 450 SMART CARD READER/WRITER
VERIFONE FORMS INTERNET COMMERCE DIVISION TO DRIVE; TRANSACTION AUTOMATION SOLUTIONS INTO NEW MARKETS
VERIFONE END-TO-END INTERNET COMMERCE SOLUTION TO PROVIDE SECURE, VENDOR-NEUTRAL PLATFORM FOR PROCESSING ELECTRONIC PAYMENTS
VERIFONE ESTABLISHES SUBSIDIARY IN ARGENTINA
VERIFONE'S OMNIHOST(R) 2.0 PAYMENT PROCESSING SOFTWARE AVAILABLE ON THE HP 9000 PLATFORM
PRINTPAK(TM) 300 PHYSICALLY INTEGRATES WITH VERIFONE SYSTEMS TO CREATE NEW GENERATION OF COMPACT RETAIL PAYMENT SOLUTIONS
VERIFONE INTRODUCES SMARTNET(TM), INDUSTRY'S FIRST PAYMENT-OPTIMIZED NETWORKING PRODUCT LINE FOR POINT-OF-SALE MARKET
ECI TELECOM ANNOUNCES COOPERATION WITH VERIFONE TO DEVELOP AND MARKET TRANSACTION SYSTEMS

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