CDMA-based Credit and Debit Transactions Offer Vendors Mobility, Security and Fraud Reduction
Australia/New Zealand - May 10, 2004 - Verifone Inc., the worldwide leader in electronic payment solutions, today announced that Verifone Omni wireless point of sale (POS) terminals are now certified and operational in New Zealand. With Verifone’s multi-application wireless POS, merchants are now able to process debit and credit transactions as well as transactions using a number of private label cards.
The Omni Wireless Terminal has been certified by ETSL (Electronic Transaction Services Limited) on behalf of its member banks, and by Telecom New Zealand Limited.
Verifone, together with its New Zealand partner Tech Trans (NZ) Limited, has developed and certified the Omni Wireless terminal and application software to provide connectivity to ETSL over Telecom New Zealand’s wireless CDMA network. ETSL operates the Paymark EFTPOS network on behalf of its shareholders – ASB Bank, Bank of New Zealand, The National Bank and Westpac.
The Verifone Omni Wireless solution is now available to retail merchants, providing them with maximum flexibility and reliability in a true wireless environment.
“Verifone’s wireless point of sale solution extends the convenience and security of electronic payments to market segments that traditionally were excluded, while reducing fraud,” said Denis Calvert, vice president, Verifone Asia Pacific region. “The demand for this device validates the need for secure wireless payment services in the marketplace. With the introduction of this terminal our customer Paymark EFTPOS can extend the reach of payments and boost merchant acceptance.”
“The Verifone Omni point of sale terminal is the ideal wireless terminal for our Mobile EFTPOS Plan, which is tailored to meet the transaction needs of Mobile EFTPOS users and offers excellent value for money,” said Garry Mitchell, Service Development Manager at Telecom’s Advanced Solutions Group. “The application is an IP application over our CDMA 1XRTT wireless network, and is the first IP EFTPOS over CDMA application in Australasia.”
Verifone’s portable wireless terminal comes complete with a triple track magnetic stripe card reader, EMV smart card reader, internal PINpad, and integrated printer, making it capable of accommodating a full range of payment and value-added applications. In addition it meets all specifications required for EMV standards, and meets regional requirements for Triple DES (3DES) and PIN entry device (PED) security as required by the card associations.
“The application supports all credit cards and all New Zealand debit cards plus a number of private label cards that are accepted by ETSL,” said John Evans, Manager Certification Services, ETSL. “The Omni Wireless terminal has put a new generation of mobile convenience and performance –with a full range of capabilities –in the hands of retail merchants.”
The Omni wireless terminal and the application are fully approved for connection to the ETSL switch and the Telecom CDMA network. The application is supported by Tech Trans (NZ) Limited, Verifone’s exclusive country partner in New Zealand, using Verifone’s appliance management suite VeriCentre TMS.
“Verifone has the most comprehensive global product line for IP and wireless solutions, which positions us to supply a broad set of products from the countertop to the mobile environment all based on the most robust multi-application architecture and Verix development platform available,” said Bill Nichols, vice president international marketing at Verifone.
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.
About Telecom New Zealand Ltd
Telecom New Zealand Ltd (Telecom) (www.telecom.co.nz) is the largest telecommunications provider in New Zealand and is an established provider of services in Australasia. The company provides a full range of Internet, data, voice, mobile and fixed line calling services for its customers in both countries. Telecom aims to be the best performing online and communications company in Australasia.
About Electronic Transaction Services Limited
ETSL (www.etsl.co.nz) is the company responsible for the operation of the Paymark EFTPOS network that supports nearly 90% of all EFTPOS transactions in New Zealand by providing network and processing services for real time payments.
ETSL is jointly owned by four major banks – ASB Bank, Bank of New Zealand, The National Bank and WestpacTrust and is the organization largely responsible for the development and introduction of EFTPOS in New Zealand. Financial transactions are generated at point of sale by debit, credit, charge and proprietary cards and authorized via links to major financial institutions and many smaller card processing operations.Since its inception in 1985, ETSL has become a vital part of the retail experience in New Zealand, carrying around 55% of all retail turnover.