Printer Friendly


 REDWOOD CITY, Calif., Aug. 26 /PRNewswire/ -- VeriFone, Inc. (NASDAQ: VFIC), a leading provider of Transaction Automation system solutions worldwide, today announced the TRANZ(R) 380 x2, the industry's first dual-application transaction system. Specially designed system software divides the TRANZ 380 x2 memory into two independently operating halves, giving the product the functionality of two TRANZ 380 systems. This enables merchants to run multiple application programs on a single system.
 "Originally used to automate credit card transactions, VeriFone systems are now used for a wide variety of financial and non-financial transactions, including debit card purchases, food stamps, time and attendance, customer data collection and health insurance eligibility verification," said Mike Shade, director of marketing for VeriFone's U.S. Division. "The TRANZ 380 x2 -- the only dual-application system on the market today -- allows merchant service providers to quickly and easily integrate value-added applications with their payment solutions without having to purchase additional hardware or go through the time and expense of modifying and recertifying the application software."
 Saves Time and Expense of Software Development and Certification
 Until now, Transaction Automation systems were capable of loading only a single software program -- typically a payment application for credit or debit card purchases. In order to run a second program, a merchant could acquire a separate transaction system or purchase a new application combining both functions. If the software program were not available from the service provider, the merchant would have to fund the development of a new program and wait for it to be certified for use on the payment network.
 The TRANZ 380 x2 system addresses this need by splitting the 128-kilobyte random access memory (RAM) into two 64-kilobyte segments, enabling the product to operate as two fully independent systems, each running one application. The user can easily switch from one application to the other by pushing a button on the system keypad. This approach saves users the cost and counter space of a second system, as well as the time and expense of developing and certifying software. It also reduces the number of applications that service providers must maintain and support, and gives them the flexibility of easily "mixing and matching" applications to suit user needs. System software for the TRANZ 380 x2 was developed by Datascape Inc. of Atlanta.
 A Field-Proven Solution
 The TRANZ 380 x2 system has been proven in a number of installations throughout the United States. By swiping a patient's Medicaid card through a TRANZ 380 x2, a healthcare provider in the state of New York can automatically access a government-sponsored network that will verify eligibility in a matter of seconds. The same system is also connected to an electronic payment network and can process credit card transactions for payment of medical services. In Florida, healthcare providers use TRANZ 380 x2 systems to confirm patient eligibility not only for Medicaid, but for many private commercial insurance plans as well.
 A leading U.S. merchant services provider has deployed TRANZ 380 x2 systems that run parallel credit and debit applications for merchants in the Midwest. Because these applications access different payment networks, independent operation ensures that modifications to one application do not affect the other, and eliminates the need for modified software to be recertified for both networks.
 With VeriFone's ZONTALK(TM) 2000 terminal management software, application programs and data can be downloaded over telephone lines to a TRANZ 380 x2 system at any remote location. The TRANZ 380 x2 supports many TRANZ 380 and TRANZ 330 applications. The system is fully compatible with all VeriFone printers and PIN pads.
 Price and Availability
 The TRANZ 380 x2 is available now in the United States. U.S. reseller prices range from $376 to $349, depending upon quantity. Additional product information can be obtained from VeriFone U.S. regional sales offices or resellers, or by calling VeriFone's U.S. Division sales hotline at 800-545-5557.
 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; 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 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: VeriFone and TRANZ are registered trademarks of VeriFone, Inc. ZONTALK is a trademark of VeriFone, Inc.
 -0- 8/26/93
 /CONTACT: David Barnes of VeriFone, 415-696-8823; or Beth Pampaloni of Wilson McHenry Company, 415-592-7600, VeriFone/

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

TM -- SJ001 -- 6056 08/26/93 10:01 EDT
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:Aug 26, 1993

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