Global | Change

Chile's Transbank Selects Verifone CR600 to Add Check Validation Application to its Network

Verifone announces today the purchase of its CR600 check reader peripherals by Transbank S.A. August 02, 2004 Santiago, Chile

Check Reader Makes Using Checks at the Point of Sale as Quick and Easy as a Credit Card Purchase

Santiago, Chile - August 02, 2004 - Verifone, Inc., the world's leading provider of payment solutions, announced today the purchase of its CR600 check reader peripherals by Transbank S.A., the credit and debit card management and merchant affiliation network in Chile. Transbank will use the CR600 alongside Verifone's Omni 3750 payment terminals to electronically validate check payments at the point of sale.

The CR600 will enable Transbank to add a new application to its existing credit and debit network. Transbank, headquartered in Santiago, supports 20 of the leading banking and financial institutions in the country with the administration of Visa, Master Card, Magna, American Express and Diners Club International credit cards, and the Redcompra debit network, which includes the Electron and Maestro international brands.

Using the CR600 and an application developed by integrator and Verifone distributor Coasin, Transbank will transmit check information over its network to its partner organizations who can quickly approve or reject the payment at the point of sale. "Verifone's CR600 allows us to implement a new and valuable application to our network that will expand the use of electronic transactions," said Raúl Obrecht, Marketing Manager.

The Verifone CR 600 check reader combines full programmability, remote downloading, self-diagnostics and universal connectivity in one unit. This leads to improved productivity and reduces check fraud at the point of sale. The fast check-reading capability of the CR 600 makes a check-based payment as convenient as a credit card sale.

"Verifone is proud to work with Transbank to extend the power of its network and bring new services to its banking customers and consumers," said Daniela Penelas, Verifone sales manager in Argentina. "The Verifone CR 600 check reader can protect merchants from significant losses due to bad checks, while making check payments at the point of sale as quick and easy as a credit card transaction."

About Coasin
Coasin Chile is an Integrator of Information and Communications Technologies empowering next-generation business solutions. The Coasin’s offer is grouped around the Corporate and Telecommunication Operators markets. This company also has the ISO 9001:2000 certification in the Customer Service Area. Coasin has a wide range of products and services in such diverse areas as: Data Networks, IP and Internet; Wireless and Satellite Communication Systems; Structured Cabling and Fiber Optic; Workstations; High-performance Servers; Security Solutions; Videoconference and Video Surveillance Solutions; Development of Internet Solutions for Medium and Large Companies; POS Terminals and Electronic Transaction Systems; Continued Operation Services; Database Management Systems; Network Engineering, Design, and Diagnosis Services. Operating in Chile since 1966, today Coasin has nearly four hundred employees –mostly engineers and technicians, deployed in a network of nineteen branch offices from Arica to Punta Arenas, and with a presence in Argentina, Costa Rica and El Salvador. For more information, please to visit (www.coasin.com)

About Verifone, Inc.
Verifone, Inc., recognized worldwide as the trusted leader in secure electronic payment technologies, provides expertise, solutions and services for today with a smart migration strategy for tomorrow. Verifone is leading the industry in the delivery of solutions that add value to the point of sale, resulting in improved merchant retention and the generation of new sources of revenue for its partners and customers. Verifone solutions are specifically designed to meet the needs of vertical markets including financial, retail, petroleum, government and healthcare. Verifone has shipped over eleven million electronic-payment systems.