Verifone Holdings, Inc. (NYSE: PAY) announced today it has been named winner of the Frost & Sullivan 2005 Product Line Strategy Leadership Award in recognition of its innovative payment transaction solutions and value added services at the point of sale that “demonstrated superior insight into customer needs and product demands.” It is the first time in three years that Frost & Sullivan has designated this award in the EFT POS industry segment.
Frost & Sullivan, founded in 1961, is recognized as a global marketing research and solution leader, with offices located worldwide. The organization cited Verifone’s Enhanced Communications product line and said, “Verifone is consolidating its industry position through a comprehensive line of EFT POS solutions that use reliable wireless and IP-based communications. These solutions support IP-based CDMA, GPRS and Wi-Fi technologies for secure, ‘always on’ connectivity.” According to the consultancy, merchants using Verifone payment solutions “are able to justify total cost of ownership through intuitive products that help lower investments in staff training.”
Frost & Sullivan said Verifone has delivered “innovative and user-friendly products” including Vx Solutions, the next-generation payment solution, and the Omni 7000 family of multilane solutions that offer merchants modular options and a high cost to benefit ratio.
“Verifone is extremely gratified that Frost & Sullivan’s industry experts have recognized the Verifone difference and the value that the Enhanced Communications product strategy brings to merchants,” said Paul Rasori, vice president of marketing, Verifone. “Product innovation is a hallmark of Verifone’s business.”
Frost & Sullivan’s analyst team tracked all end-user requirements and market dynamics within the industry to determine the winner of the Product Line Strategy Leadership award. “This process included interviews with suppliers, end-users and industry experts,” said payment industry analyst Aravind Vanchesan, Frost & Sullivan. “Competitive product lines were compared with customer base demands to determine Verifone’s selection as the top-ranking supplier.”
According to the Frost & Sullivan award, Verifone’s product line offers merchants from every segment the following benefits:
- Speed: Increased transactions during peak hours and better customer service.
- Security: SSL standard and VeriShield security with file authentication to tackle fraud.
- Cost Savings: Elimination of dial-up lines and leveraging existing network infrastructures (DSL, Cable, Ethernet). Additionally, it offers cost effectiveness by bypassing proprietary wireless gateway processors.
- Modular and Upgradeable architecture: Range of connectivity and payment options that can be easily upgraded as technologies or business needs change.
According to Frost & Sullivan, Verifone’s architecture enables multiple value-added applications such as gift and loyalty card programs, healthcare insurance eligibility, time and attendance tracking, EBT (Electronic Benefit Transfer), and check authorization that can be customized for specific merchant environments.
About Verifone Holdings, Inc.
Verifone Holdings, Inc. (“Verifone”) (NYSE: PAY), 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.