Turkish Bank is Early Customer Win For Newly Introduced Vx 510 Payment System
Istanbul, Turkey - December 14, 2004 - Garanti Bank has opted to deploy the newly announced Vx 510 payment system, one of the first models in the recently introduced Verifone, Inc., Vx Solutions family. The bank's decision follows the successful release of 18,000 units of the Verifone Omni 3750 to the bank's merchants in 2004.
Garanti Bank’s Bonus Card Program is one of the most widespread and sophisticated card programs in Turkey, offering co-branded loyalty, installment and EMV. The highly complex Bonus Card application easily ports to the new Vx systems, demonstrating the compatibility of the new product line to the existing Verifone Omni family.
"Verifone's new Vx 510 creates maximum satisfaction at merchant sites," said Mehmet Sezgin, General Manager at Garanti Bank’s Garanti Payment Systems company. "The new Vx Solutions products provide superior processing power and printing speed, which enhances the multi-tasking ability and very high security features of Verifone's products. Garanti has distributed 3,750,000 Bonus Cards in 4 years and as Turkey’s fastest growing card issuer our primary concerns are the needs and assessments of merchants and card holders.”
The first Vx 510s were certified by the bank and were introduced to merchants in September 2004. Garanti Bank has now started planning the next phase of their migration to the Verifone Vx 510.
“Garanti Bank was an early adopter of Vx Solutions and have put the new payment devices through their paces prior to the formal launch at Cartes in November,” said Nigel Bidmead, Managing Director of Verifone EMEA. “This commitment to deploy the Vx 510 is a tremendous win for Verifone."
Utilizing 32-bit ARM9 microprocessors, the high performance and highly secure Vx Solutions feature an advanced hardware and software architecture to assure maximum throughput at the checkout counter. Featuring a consistent user interface across multiple form factors and price points, Vx Solutions are designed to simplify everything from sales, merchant and helpdesk training to software development and terminal management. Vx Solutions provide a secure payment processing environment with advanced hardware tamper detection and response, PIN Entry Device security approval and 128-bit SSL encryption for IP based transaction processing and application downloading.
Instrumental in this deployment is ITD – Ýletiþim Teknoloji Danýþmanlýk Tic. A.Þ. -- a Verifone International Partner (VIP) headquartered in Istanbul. "Vx Solutions is a tremendous new payment product line and we are excited to be involved in the early rollout," said Fahir Ozcan, General Manager of ITD.
Bonus Card is the first multi-branded chip-based credit card in Turkey, offering flexible reward and loyalty program for both cardholders and partner merchants. Its main feature is to provide tangible financial benefits, such as cash back and installment facilities to customers and strong marketing and loyalty support to partner merchants, increasing their customer numbers and sales volume.
Established in 1946 in Ankara with one branch as a privately owned commercial bank, Garanti Bank (www.garantibank.com) provides retail, commercial and corporate banking services through a network of 369 domestic branches and offices in Turkey, three overseas branches in Luxembourg, Malta and Cyprus, five representative offices in Moscow, London, Dusseldorf, Shanghai and Geneva. Majority-owned by Doðuþ Holding,Garanti owns sbsidiary banks in the Netherlands; Garanti Bank International and Russia; Garanti Bank Moscow.
ITD – Ýletiþim Teknoloji Danýþmanlýk Tic. A.Þ. (www.itd.com.tr) founded in 1991 and headquartered in Ýstanbul, Turkey with offices in Poland and Romania, provides services on voice systems, payment systems and e-business solutions. Addressing finance, telecommunications and retail industries, ITD offers solutions on call automation, interactive voice response systems (IVR), call / contact center solutions, speech recognition and customer service automation. The company provides various services in payment systems ranging from POS terminals, to end-to-end payment solutions, smart card payment terminals, risk / fraud management solutions, loyalty solutions and card management systems. E-business solutions provided by ITD are complementary with its voice and payment solution platforms that will enable customers to provide mobile and web based services.
About Verifone, Inc.
Verifone, Inc., a global leader in secure electronic payment technologies, provides expertise, solutions and services for today with a migration strategy for tomorrow. Verifone delivers 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 since inception in 1981.