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 REDWOOD CITY, Calif., Sept. 20 /PRNewswire/ -- VeriFone, Inc. (NASDAQ: VFIC), a leading worldwide provider of Transaction Automation system solutions, today announced two devices that provide secure Personal Identification Number (PIN) entry for point-of-sale (POS) debit purchases. Incorporating industry-standard Derived Unique Key Per Transaction (DUKPT) encryption technology, the PIN Pad 301 and PIN Pad 102 are the first DUKPT (pronounced "duk-putt") PIN pads to be certified for use with VisaNet Integrated POS Debit by VisaNet Point-of-Sale Services, the largest processor of POS authorizations in the United States. DUKPT provides significantly higher security against debit card fraud by changing the encryption key with each transaction. This is in contrast to encryption methods that employ a single master key.
 The products are compatible with VeriFone's popular TRANZ(R) and OMNI(TM) families of transaction systems. The PIN Pad 301 can be located on a counter top or mounted on a wall, and includes a magnetic stripe reader, enabling customers to swipe their own cards. The PIN Pad 102 is a compact, handheld device that can be placed in a holster at the point of sale.
 POS Debit Leadership
 "POS debit is no longer a regional phenomenon but a major new direction for the Transaction Automation industry," said Roger Bertman, vice president and general manager of marketing and the Network Systems Division at VeriFone. "As the leading supplier of debit-capable transaction systems and peripherals, VeriFone will continue to work closely with Visa and other industry leaders to support market acceptance of debit, and bring the benefits of this payment method to an increasing number of consumers, merchants and banks throughout the world." According to Bertman, VeriFone has delivered more than 200,000 PIN pads worldwide, giving the company the largest installed base of debit transaction systems in the industry.
 VeriFone was a pioneer of POS debit systems in the mid-1980s with the delivery of TRANZ 330 terminals and PIN pads to specialty retailers and service stations. In 1987, the company supplied PIN pads to Carls' Jr. restaurants -- one of the first POS debit installations in the fast food industry -- and has since delivered systems to other restaurant chains as well. Since 1989, VeriFone has installed more than 20,000 shopper-activated debit/credit payment systems in leading supermarkets throughout the United States.
 Price and Availability
 The PIN Pad 301 and PIN Pad 102 are available now. U.S. reseller pricing for the PIN Pad 301 is $185 in volume. The PIN Pad 102 is priced at $124 in volume. Additional product information can be obtained from VeriFone U.S. regional sales offices or resellers.
 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 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, Germany; London; Madrid, Spain; Milan, Italy; Paris; Singapore; Sydney, Australia; Taipei and Kaohsiung, Taiwan, R.O.C.; and Bangalore, India. To date, VeriFone has shipped more than 3.1 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 and one of the 100 best companies in California by California Business in 1992 and 1993.
 NOTE: VisaNet is a registered trademark of Visa International. TRANZ and VeriFone are registered trademarks of VeriFone, Inc. OMNI is a trademark of VeriFone, Inc.
 -0- 9/20/93
 /CONTACT: David Barnes of VeriFone, 415-696-8823; or Beth Pampaloni of Wilson McHenry Co., 415-592-7600, for VeriFone/

CO: VeriFone Inc.; Visa ST: California IN: CPR SU:

TM -- SJ003 -- 3594 09/20/93 11:01 EDT
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Publication:PR Newswire
Date:Sep 20, 1993

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