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 REDWOOD CITY, Calif., and BRIDGEWATER, N.J., Jan. 11 /PRNewswire/ -- VeriFone Inc. (NASDAQ: VFIC), a leading global provider of point-of-sale (POS) Transaction Automation system solutions, and Integrated Network Corp. (INC), a major designer and manufacturer of network access equipment and multimedia communications systems, today announced the signing of a worldwide joint marketing agreement. Under the agreement, terms of which were not disclosed, VeriFone and INC will work together to promote digital data-over-voice (DDOV) communications technology and systems to transaction processing markets in the United States and around the world. The two companies will coordinate their efforts to ensure full product compatibility and to optimize the performance of VeriFone transaction systems for DDOV applications.
 "As the leader in POS transaction systems, VeriFone will give INC broader insight into the requirements of the global Transaction Automation industry," said Leonard Eisenstein, vice president of worldwide sales for INC. "By combining our marketing and technical resources, the two companies will be able to provide complete DDOV-based solutions packages tailored to most effectively meet the diverse needs of banks, service providers and merchants in the U.S. and in country markets throughout the world."
 According to Eisenstein, joint marketing activities will initially target the United States and China, where installation of DDOV technology is already under way, as well as Spain and Ireland. Later this year, these activities will be extended to other countries in Europe and the Pacific Basin.
 A Key Element Of VeriFone's Digital-Ready Strategy
 "VeriFone is implementing an aggressive digital-ready strategy to define, promote and implement standard digital interfaces that will facilitate the delivery of transactions between point-of-sale systems and payment networks," said Roger Bertman, VeriFone's vice president and general manager of marketing and the Network Systems Division. "Our alliance with INC enables VeriFone to work directly with the developer of DDOV technology, allowing us to tune our systems offerings for optimum performance with DDOV-based networks, and more quickly deliver the benefits of this new and important digital technology to customers worldwide."
 Faster Transaction Times, Reduced Telecommunications Costs
 Developed and patented by INC, DDOV enables data and voice transmissions to be sent simultaneously over a single standard telephone line. In the United States, DDOV permits merchants and service providers to utilize the Regional Bell Operating Companies' (RBOCs) family of Transaction Switched Transport Services (TSTS), also known as Virtual Private Line (VPL) service. When used with VPL, DDOV significantly reduces response times for credit and debit card transactions to five to eight seconds, compared with up to 30 seconds using conventional technologies and services. DDOV enables retailers to shorten their checkout lines, even during peak periods, while cutting telecommunications costs. The low-cost DDOV technology eliminates the need for separate phone lines for voice and data, as well as the need for leased lines to achieve fast credit and debit authorizations.
 First Data Resources (FDR) has certified VeriFone retail applications that conform to the T3POS protocol specification for DDOV transmissions. FDR is currently conducting a 10-site, multi-regional pilot program that has yielded significantly faster credit authorization response times with DDOV than with conventional dial-up services, and confirmed compatibility between the VeriFone transaction systems and INC's DDOV technology. In that test, response times for transactions sent via DDOV and Virtual Private Line averaged from five to eight seconds. Recently, FDR was able to further reduce the DDOV-based transaction time to less than five seconds.
 VeriFone Inc.
 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'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.
 Integrated Network Corporation
 Headquartered in Bridgewater, Integrated Network Corp. developed and patented the Digital Data Over Voice access technology, which has now become a de facto industry standard. The company manufactures the low-cost, rapid-response DDOV multiplexers used at point-of-sale sites and in the telephone company central offices. INC multiplexers integrate seamlessly to any POS terminal, standalone or cash-register type, without requiring software programming or special cabling. The access equipment is easily configured to support industry standard protocols such as T3POS. The DDOV multiplexers also support modem dial back-up as well as the grouping of LAN-based terminals in multi-lane environments. INC has more than 20 national and international patents in network access technology.
 NOTE: VeriFone is a registered trademark of VeriFone Inc.
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 /CONTACTS: David Barnes of VeriFone, 415-696-8823; Beth Pampaloni of Wilson McHenry, 415-592-7600, for VeriFone; Valerie Rasines of INC, 908-218-1202; Jim Horton of Slater Hanft, Martin, 212-674-3100, for INC/

CO: VeriFone Inc.; Integrated Network Corp. ST: California, New Jersey IN: CPR TLS SU:

RB -- SJ005 -- 0940 01/11/94 11:01 EST
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Publication:PR Newswire
Date:Jan 11, 1994

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