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VERIFONE ANNOUNCES FIRST TRANSACTION AUTOMATION APPLICATIONS CERTIFIED FOR VISA'S PAYMENTSERVICE 2000

 REDWOOD CITY, Calif., May 5 /PRNewswire/ -- VeriFone Inc. (NASDAQ: VFIC) today announced the availability of the first point-of- service (POS) applications certified for Visa's PaymentService 2000 through VisaNet. These five software programs help merchants using VeriFone Transaction Automation systems to take advantage of this new bankcard service and qualify for reduced interchange rates and lower chargebacks. The applications include two retail programs for VeriFone's large installed base of ZON(R) Jr XL electronic draft capture systems and three restaurant/retail applications for the company's popular TRANZ(R) family of systems. Both roll and slip printers are also supported.
 "Visa's PaymentService 2000 and other bankcard initiatives are improving the quality of service to merchants and thereby driving Transaction Automation system requirements to higher levels of performance and functionality," said Roger Bertman, vice president and general manager of marketing and the Network Systems Division at VeriFone. "We will continue to work closely with Visa to assure that all VeriFone system users have the application resources they need to take full advantage of these new services. Our next application, designed for the lodging industry, should be certified sometime this summer, and others will follow shortly thereafter. This is all part of VeriFone's commitment to deliver a full range of complete Transaction Automation solutions -- hardware, software, service and support -- to issuers, acquirers and merchants."
 Implemented on April 1, 1993, Visa's PaymentService 2000 is a new electronic merchant and cardholder payment service designed to improve transaction processing by using a unique Transaction Identifier to link the authorization to the clearing and settlement message. The ability to accurately match authorizations with clearing data virtually assures merchants of payment for properly authorized transactions. This service applies only to Visa transactions where the card is present.
 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.
 NOTE: TRANZ, ZON and VeriFone are registered trademarks of VeriFone Inc.
 -0- 5/5/93
 /CONTACT: David Barnes of VeriFone, 415-696-8823; or Beth Pampaloni of Wilson McHenry, 415-592-7600, for VeriFone/
 (VFIC)


CO: Verifone Inc.; Visa ST: California IN: CPR SU: PDT

SG-GT -- SJ003 -- 4846 05/05/93 11:47 EDT
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Publication:PR Newswire
Date:May 5, 1993
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