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Verifone Expands Dominance in the Quick Service Restaurant Market

Verifone IP-enabled payment terminals have been selected by eight of the leading Quick Service Restaurant (QSR) chains in the United States, reflecting Verifone’s continued dominance in the QSR market. May 03, 2004 Santa Clara, CA

Verifone ships more than 25,000 terminals for QSR chains since January

Santa Clara, Ca - May 03, 2004 - Verifone, Inc., the world's leading provider of payment solutions, today announced that Verifone IP-enabled payment terminals have been selected by eight of the leading Quick Service Restaurant (QSR) chains in the United States, reflecting Verifone’s continued dominance in the QSR market.

Verifone's growing list of QSR customers includes many of the industry's biggest names, such as McDonald's, BURGER KING, Taco Bell, Pizza Hut, and KFC restaurants, which are in a heated race to offer the speed and convenience of electronic payment at their restaurants nationwide.

“Now that the largest chains have completed their tests and trials and moved to a phase of rapid deployment, the QSR market has exploded, and hands down Verifone is the company they are trusting to deliver the benefits of electronic payment to their POS,” said Jesse Adams, executive vice president of North America sales at Verifone. “Verifone began deployment at 2 of the top 3 QSR chains this year with the potential for over 90,000 terminals deployments for these two chains alone. Since the start of this year we have already shipped Verifone point of sale systems to nearly 25% of that number. Our IP enabled terminals have been a major hit in being able to deliver products that these customers need today as they introduce cashless payment initiatives for their customers, and in the future as they need more sophisticated POS capabilities such as gift card and loyalty programs.”

“Our current dominance in the QSR market positions us for tremendous growth opportunities,” said Adams. “We plan to leverage our installed base to take the QSR point of sale far beyond the basics of credit and debit payment by delivering additional advanced Verifone POS solutions that include wireless IP, contactless payment, intelligent drive thru’s and customer activation, which all address this market’s need for speed, convenience and cashless payment.”

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.