VeriFone Celebrates 20 Years of Leadership in Global E-Payments by Recognizing Innovation Worldwide
From Modest Beginnings, Today`s High-Tech
Payments Industry is Ripe With Opportunity
PALO ALTO, Calif. -- April 18, 2001--
VeriFone, a division of Hewlett-Packard Company (NYSE:HWP), and
worldwide leader in electronic payment solutions, today announced that
it is celebrating its 20th anniversary. The company also announced its
Verix Innovation awards, a program to recognize the most innovative
multi-application solutions based on VeriFone`s Verix platform in use
by customers around the world.
"Once viewed as a low-tech commodity business with a regional
focus, today`s payments industry has clearly evolved into a high-tech
industry requiring flexible multi-application solutions that are
accessible on a global basis. It is an industry that remains ripe for
the kind of innovation we`ve proven we can deliver," said
Pierre-Francois Catte, vice president and general manager of VeriFone.
"Despite all this change in technology and globalization, ours remains
a relationship business. VeriFone has led the evolution of e-payments
by maintaining its long-standing relationships with customers, and by
providing them with state-of-the-art technology, industry standards,
and secure, reliable products. Our Verix Innovation award program
gives us the opportunity to personally recognize customers and
developers, and share their achievements with the market."
"ETA congratulates VeriFone on its impressive milestone of
celebrating 20 years of being in business," said Ken Bowman, executive
director of the Electronic Transactions Association. "Our industry
owes a tremendous amount of gratitude to VeriFone and its commitment
to helping to develop and advance the technology of electronic
transactions at the point of sale. We look forward to their continued
involvement with ETA and our industry."
VeriFone`s roots can be traced back to Visa International`s
request for an efficient way to electronically authorize credit card
transactions at the point of sale. That simple challenge has led
VeriFone to develop a wide variety of innovative payment solutions to
support credit, debit, electronic check conversion, gift cards,
electronic benefits transfer, smart cards, contactless payment,
utility prepayment, and even virtually anytime, anywhere payment using
Internet-enabled devices. These solutions are being implemented across
a variety of vertical markets including financial retail, multi-lane,
utility, government, education, medical, and petroleum and convenience
stores.
"Fifteen years ago, installing VeriFone terminals was an
innovative way to realize efficiencies and reduce fraud, allowing us
to grow the payments industry into what you see today," said Jeff
Sachs, senior vice president, Global Acceptance at Visa International.
"VeriFone continues to be an industry leader and innovator with
e-payment solutions that are improving customer convenience, fighting
fraud and bringing an entirely new level of capability to the payments
industry."
"As one of VeriFone`s original customers, NPC has watched VeriFone
continually evolve over the years to meet the market`s demand for
reliable, high technology solutions that enable more efficient, secure
and economical ways to handle payments," said Mark D. Pyke, executive
vice president of Merchant Services for NPC. "Our recent success
introducing the Omni 3200 into the quick service restaurant
marketplace is just one example of how we`ve been able to penetrate
new markets with innovative VeriFone solutions."
Continuing the celebrating, Verix Innovation award winners from
around the world will be announced on May 30, the one-year anniversary
of VeriFone`s Re-Inventing E-payment initiative and the launch of the
Verix multi-application platform.
"Last year VeriFone announced the Verix operating environment,
which gave merchants, acquirers and developers the opportunity to
virtually re-invent e-payment with a global, multi-application
platform," said Stuart Taylor, director of Emerging Markets and
Business Development at VeriFone. "Now they are delivering on this
foundation worldwide with powerful multi-purpose solutions."
About VeriFone
VeriFone (http://www.verifone.hp.com), a division of
Hewlett-Packard Company, is the leading global provider of secure
electronic-payment solutions for financial institutions, merchants and
consumers. The division has shipped more than nine million
electronic-payment systems, which are used in more than 100 countries.
About HP
Hewlett-Packard Company -- a leading global provider of computing
and imaging solutions and services -- is focused on making technology
and its benefits accessible to individuals and businesses through
simple appliances, useful e-services and an Internet infrastructure
that`s always on.
HP had total revenue from continuing operations of $48.8 billion
in its 2000 fiscal year. Information about HP and its products can be
found on the World Wide Web at http://www.hp.com.
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CONTACT: Eastwick PR (for VeriFone)
Jennifer Gordon, 650/480-4012
jennifer.gordon@eastwick.com
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