Global | Change

Radiant Systems to Offer Verifone Mobile Payment Processing Solution

Integrated solution heightens data security and strengthens customer service capabilities November 06, 2006 Atlanta, GA
Atlanta, GA - November 6, 2006 - Expanding its line of innovative technology for the hospitality industry, Radiant Systems, Inc. (NASDAQ: RADS) announces an agreement with payment systems leader Verifone Holdings, Inc. (NYSE: PAY; TASE) to offer Verifone’s ON THE SPOT mobile electronic payment systems with Radiant’s Aloha Point-of-Sale (POS) systems to restaurant operators in North America. The fully integrated payment solution will allow operators to improve the customer experience, enhance efficiency and increase card holder data security across key service points, including table, carside and delivery.

Verifone’s ON THE SPOT solutions feature the Vx 670, the industry’s smallest all-in-one handheld secure payment device designed specifically for customer-facing operation in the restaurant and hospitality environment. Verifone will work with Radiant sales and its channel partners to market these new restaurant solutions.

“Today’s restaurant operators face intense pressure to improve customer service levels and operational efficiency while meeting ever-increasing security requirements for card holder data,” said Scott Kingsfield, chief marketing officer at Radiant Systems. “As our customers seek solutions to these challenges, they are exhibiting growing interest in technologies that enable table- and curb-side payment. Combining the Aloha and Verifone solutions, Radiant is now positioned to offer a compelling option for mobile payment that addresses our customers’ needs in an innovative way.”

This integrated solution brings with it many potential benefits for the restaurant operator. Customer service, speed and restaurant efficiency are enhanced as servers can close checks and process transactions at the customer’s table or car without making separate trips to the POS to print checks and run credit cards.

“Integrating our ON THE SPOT solutions with Aloha provides a great value for restaurant operators, who can improve guest satisfaction and streamline their operations by taking advantage of pay-at-table and curbside payment functionality,” says Paul Rasori, Verifone vice president of marketing. “Utilizing the Vx 670 with Aloha POS also allows restaurant operators improved access to critical business data through Aloha’s reporting features.”

The Radiant and Verifone solution increases card data security because the credit card remains in the customer’s sight throughout the entire transaction. Due to the seamless integration of the Aloha and Verifone solutions, operators can leverage the consolidated batch reporting and consolidated sales reporting features of the Aloha POS to streamline back-office processes related to credit card transactions.

About Radiant Systems, Inc.
Radiant Systems, Inc. is a leader in providing innovative technology to the hospitality and retail industries. Offering unmatched reliability and ease of use, Radiant's hardware and software products have been deployed in over 60,000 sites across more than 100 countries. Radiant has approximately 1000 employees worldwide, 325 certified sales and service partners and over 1800 field service representatives. Founded in 1985, the company is headquartered in Atlanta with regional offices throughout the United States as well as in Europe, Asia and Australia.

About Verifone Holdings, Inc.
Verifone Holdings, Inc. (“Verifone”) (NYSE: PAY; TASE: PAY) is the global leader in secure electronic payment solutions. Verifone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. Verifone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.

Certain statements contained in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future business development activities, and are thus prospective. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company’s financing plans; (ii) trends affecting the Company’s financial condition or results of operations; including the ability to integrate the operations of acquired businesses; (iii) the Company’s growth strategy and operating strategy; (iv) the Company’s new or future product offerings, and (v) the declaration and payment of dividends. The words “may,” “would,” “could,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend,” “plans,” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Among the key risks, assumptions and factors that may affect operating results, performance and financial condition are the Company’s reliance on a small number of customers for a larger portion of its revenues, fluctuations in its quarterly results, ability to continue and manage its growth, liquidity and other capital resources issues, competition and the other factors discussed in detail in the Company’s filings with the Securities and Exchange Commission.