Global | Change

IKEA North America Selects Verifone for Electronic Signature and Payment

Chooses Customer-Facing Payment Solution in U.S. to Automate Signature Processes and Enable Future Expansion October 16, 2006 San Jose, CA

Verifone Holdings, Inc. (NYSE: PAY), announced today that IKEA North America, the world's leading home furnishings retailer, has selected VeriFon's customer-facing payment system with signature capture for use in its U.S. locations.

IKEA is currently deploying the multilane payment solution in all checkout lanes in the U.S. The company currently has 28 stores in the U.S. and is opening three-to-five new stores per year. IKEA is acquiring the systems through Torex Retail and the deployment in existing stores is scheduled to be complete by mid-2007.

"Verifone's comprehensive payment solution provides IKEA with a full range of payment capabilities for today, while providing a versatile, field-replaceable platform that will protect our investment for years to come," said IKEA spokeswoman Mona Liss.

The Verifone payment system was selected because of its proven high reliability and low cost of ownership, with the ability to utilize electronic signatures for payment at all US IKEA locations. The Verifone solution is the industry's first modular payment device to support debit, credit, signature capture, smart cards, contactless, and USB and Ethernet connectivity.

"Verifone's customer-facing payment solution provides retailers with the agility to add new features, such as signature capture, contactless card and smart card acceptance, when the need arises," said Jeff Wakefield, director of marketing with Verifone. "Retailers are able to leverage Verifone payment solutions to take advantage of new opportunities available through advanced communications options."

The Verifone payment solution meets California requirements for the visually impaired and will enable individual IKEA stores to add features, such as contactless payment card acceptance, when they need them through the use of the unique field-replaceable modules.

Additional Resources:

http://www.verifone.com/products/terminals/multilane/index.html

About IKEA (www.IKEA-usa.com)

There currently are more than 235 IKEA stores in 34 countries, including 28 in the U.S., where IKEA plans to open three - five stores a year. Other stores are being planned in: Brooklyn, NY; Draper, UT; Dublin, CA; Orlando, FL Portland, Round Rock, TX; Somerville, MA; and Sunrise, FL. Since its 1943 founding in Sweden, IKEA has offered home furnishings and accessories of good design and function at low prices so the majority of the people can afford them. IKEA has been named to BusinessWeek's List of The Best Global Brands (August 7,2006) and for four consecutive years, Working Mother magazine's annual list of the "100 Best Companies for Working Mothers" and Training magazine's annual "Top 100" ranking of companies that excel at human capital development . Additionally, IKEA has been on FORTUNE's "100 Best Companies to Work For" list for two straight years. IKEA recently received the Foreign Policy Association Award for Global Corporate Social Responsibility. IKEA incorporates environmentally friendly efforts into day-to-day business and continuously supports initiatives that benefit causes such as children and the environment. To visit the IKEA Web site, please go to http://www.IKEA-usa.com

About Torex Retail, Americas

Torex Retail Americas, a division of Torex Retail Plc Headquartered in Banbury, Oxfordshire, provides store & enterprise retail solutions for the General Retail, Grocery, & Food Service/Hospitality segments. Torex Retail Plc is a global company serving over 6500 customers across 67 countries. The America offerings of Torex Retail include solution software, a highly skilled professional services team and strategic partnerships with the world's leading hardware & middleware vendors. Torex Retail enables retailers to assemble a total IT solution for virtually any part of their retail organization, bringing together hardware, software and middleware to support enterprise systems, store systems and mobile and pervasive computing. And, with Torex' extensive professional services offerings, the company can handle all aspects of a retail solution deployment - from needs analysis and solution planning through testing, deployment and long-term operational support.

About Verifone Holdings, Inc. (www.verifone.com)

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.