Money Transfer Application, Enhanced Communications Capabilities Cited As Top Reasons For Selection
Santa Clara, CA - August 16, 2004 - Verifone Inc., the worldwide leader in electronic payment solutions, today announced Order Express, one of the top 10 companies providing money transfer services between the U.S. and Mexico, is deploying Verifone’s Omni 3750 payment terminals in more than 700 of its own and agent offices throughout Mexico and the U.S. Verifone’s Omni 3750 terminals will help expedite the transfer of funds electronically cross border.
Headquartered in Maravatio, Michoacan, Mexico, Order Express completed 1.5 million money transfer transactions in 2003 and is using the Omni 3750 to make the process faster and more secure. The company is distributing more than 50,000 magnetic stripe cards to customers, allowing them to set up and transfer any amount of funds in a matter of seconds – a process that previously could take up to two days to process manually. Recipients who are using the cards will experience faster service and can access the transferred funds almost immediately, while the sender can track the process either in agent offices or over the Internet.
“Verifone's Omni 3750 terminals have allowed us to set up a transfer system that is faster, more efficient and safer for our customers,” said Jorge Miranda, President of Order Express. "We are able to use the advanced communications capabilities of the Omni 3750 to utilize DSL and Wi-Fi for broadband access, as well as traditional dial-up."
Order Express utilizes a money transfer application developed for it by IDEA Inc. (http://www.net4pos.net), which develops and implements point of sale solutions for vertical markets. "The Omni 3750 is a great platform on which to build value-added payment applications that use its IP-enabled browser," said Israel I. Hernandez, IDEA CEO. "The Order Express application offers a new experience in money transfer solutions, leveraging all the power of a robust, flexible and upgradeable solution with the confidence of a secure electronic payment transaction."
The all-in-one Omni 3750 terminal features an array of interchangeable communications modules supporting 2400bps, 14.4Kbps, Ethernet, ISDN and wireless technologies. Additional wireless options for CDMA and GPRS will soon be available. The Omni 3750 features a powerful 32-bit processor to meet the security and networking demands of broadband communications, including EMV 4.0 smart card certification, the toughest standards for EMV smartcards, Triple DES (3DES) PIN security and up to 4MB of memory for value-added applications. It supports Triple DES and PED security, including 3DES Master Session and 3DES DUKPT, to help stem the tide of fraudulent tactics such as card skimming. To date, Omni 3750 terminals have been installed in over 70 countries.
About Order Express
Headquarterd in Mexico, Order Express www.orderexpress.com.mx/ offers the transfer of monies to the resident Hispanic communities in the United States to their countries of origin, as well as other useful services to help maintain familial contact.
IDEA USA Inc.
IDEA USA Inc. www.net4pos.net is a company specialized in development and implementation of Point of Sale (POS) solutions for vertical markets, like prepaid cards for cellular phones as well as long distance and internet access, Telco top-up solutions, Loyalty Programs, Gift Cards, Money Orders and electronic transactions. IDEA USA Inc. applications uses the newest wired telecommunication technologies (DSL, Ethernet, etc.) as well as the wireless technologies (GPRS, CDMA, WiFi) to reduce operational costs and maximize the return of investment of our clients, increasing the loyalty of the final customers to the merchants that offer our services.
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.