Module can be added in the field to support contactless payments
CHICAGO - May 18, 2004 - Verifone, Inc., the world's leading provider of payment solutions, today announced the availability of a contactless reader module for its Omni 7000MPD family of modular payment devices.
The new module, which supports RFID contactless smart card payments, can be added to base model Omni 7000MPD and Omni 7100MPD terminals at purchase or after the terminals are put into use, without returning the terminals to the manufacturer.
With its new contactless module, Verifone is targeting the growing market of retailers moving to contactless payment programs that use chips with radio-frequency technology, such as MasterCard® PayPass™ from MasterCard International and ExpressPay from American Express. The module is also compliant with electronic transit fare cards using Mifare and other ISO 14443 compliant protocols preferred by transit system operators around the world. These standards ensure convenience for merchants and mass transit systems accepting various contactless payment cards as well as for cardholders looking to use their contactless cards for daily purchases.
Trials in the United States have shown contactless payment is faster than cash. The availability of Verifone’s new contactless module will contribute to these time efficiencies and will also help boost national rollouts of contactless payments at key merchants where time is of the essence.
Speed and convenience are the major attractions driving the migration toward contactless payment. The consumer simply taps or waves the card in front of the reader to make a purchase. On the back-end, when a contactless payment card or key-fob is brought close to a compliant reader, the reader’s electromagnetic waves signal the card to activate. A small radio antenna in the card then transmits account information to the reader. The transaction continues through the authorization networks as if the card had been swiped.
With the ‘swap in & out’ design of the Omni 7000 family of terminals, different modules can be added at anytime to expand the base capabilities with Ethernet and USB, EMV Smart Card, signature capture and now contactless. Verifone Omni 7000MPD family terminals using any of these modules can co-exist in the same stores with terminals that do not, giving merchants the maximum flexibility to meet their varying payment needs at the customer service desk, or in the checkout lanes.
“Adding contactless payment to the point of sale offers significant advantages for quick service restaurants, drug stores, supermarkets, gas stations and other establishments where speed and convenience are key to maintaining customer loyalty and maximizing revenue during peak hours,” said Paul Rasori, vice president, marketing at Verifone. “With the introduction of our contactless module for the Omni 7000MPD family of terminals, Verifone is maintaining our lead in supporting contactless payment at the point of sale – a leadership position that began more than six years ago when we provided Everest terminals with integrated contactless readers to support the first Mobil SpeedPass deployments.”
The contactless module will be on display at Verifone’s booth (#1135) at the Retail Systems 2004 show being held May 17-19 at the McCormick Place in Chicago.
Base Omni 7000MPD family terminals deliver high performance and have ample memory to run multiple applications, including credit, debit, EBT, and WIC. They support 3DES Master Session, 3DES DUKPT and signature based biometrics. Their intuitive ATM-style interface, large keys, and Everest-style card reader make the terminals simple for consumers to use.
All terminals in the Verifone Omni 7000 family of products feature field swap-able modules that have been specifically designed to provide a simple and cost effective upgrade path for the over 1 million terminal install base of older generation Verifone multi-lane POS terminals. This allows retailers take advantage of advanced features without re-engineering their entire POS and back-office infrastructure. Omni 7000 and Omni 7100 terminals even take advantage of existing Everest cabling and stands, to dramatically cut installation time and costs.
The Omni 7100MPD features a large, ¼ VGA touch screen that accepts finger or stylus input for processing credit, debit, EBT, loyalty, or gift transactions. The large screen also supports sophisticated customer communications such as scrolling line items, disclosure statements, company logos, and animation. Verifone’s Omni 7100MPD touch screen utilizes a capacitive touch technology unique to the payments industry. This technology overcomes cost and reliability issues associated with current designs. It is the first ¼ VGA product with a ‘virtual pin pad’ to meet Visa PED requirements and it employs the brightest backlit screen in the industry, allowing for easy reading in harsh fluorescent lights or in direct natural sunlight.
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.