VERIFONE DELIVERS THREE-MILLIONTH TRANSACTION AUTOMATION SYSTEM TO BRAZIL'S CARDWAY PROCESSAMENTO LTDA.
REDWOOD CITY, Calif., Aug. 23 /PRNewswire/ -- VeriFone, Inc. (NASDAQ: VFIC), a leading worldwide supplier of Transaction Automation system solutions, today announced the delivery of its three-millionth system, a TRANZ(R) 380, to Cardway Processamento Ltda., bankcard service provider for Banco Nacional in Sao Paulo, Brazil. The announcement was made at the COMDEX computer trade show in Sao Paulo. "As with many Latin American countries, there are significant opportunities for automating payment processing in Brazil, a large and strategic target market for VeriFone," said Roger Bertman, VeriFone vice president and general manager of marketing and the Network Systems Division. "In partnership with Procomp Industria Electronica Ltda., VeriFone's distributor in Brazil, we are working closely with banks and service providers to bring the increased convenience, reliability and operating efficiency of Transaction Automation to this virtually untapped market." A Global Industry In little more than a decade, the Transaction Automation industry has grown from credit authorization and electronic draft capture to include a wide variety of applications, such as debit card payment, check authorization, government benefits transfer, healthcare eligibility verification and claims submission, inventory tracking, and time and attendance. According to Bertman, VeriFone has grown with the industry and helped drive not only the diversification of applications but also the globalization of Transaction Automation. VeriFone systems are now installed in over 70 countries. "While celebrating its three-millionth shipment, VeriFone understands that it has reached this significant milestone one system at a time," said Bertman. "As we expand our business, VeriFone will continue to provide the most comprehensive offering of Transaction Automation solutions, working with service providers, resellers and distributors to tailor these solutions to meet the needs of individual customers in country markets and vertical segments throughout the world." VeriFone shipped its first system in 1982. In 1989, the company delivered its one-millionth system, a TRANZ 330, to a fur and souvenir shop in Inari, a small town above the Arctic Circle in Lapland, Finland. VeriFone system shipments surpassed two million in 1991 with the installation of a TRANZ 420 at the popular Fouquet's Europe restaurant in La Defense, France. 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 3 million Transaction Automation systems, which are 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. -0- 8/23/93 /CONTACTS: David Barnes of VeriFone, 415-696-8823; or Beth Pampaloni of Wilson McHenry Company, 415-592-7600, for VeriFone/ (VFIC)
CO: VeriFone Inc. ST: California IN: CPR SU:
LH -- SJ001 -- 4995 08/23/93 11:00 EDT
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|Date:||Aug 23, 1993|
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