Verifone Serves Up New Hospitality Systems Organization
New Organization Debuts at MURTEC with Demonstration of Latest Handheld Payment Solution
March 06, 2006
Las Vegas, NV
Las Vegas, NV - March 6, 2006 - Verifone Holdings, Inc. (NYSE: PAY), today announced formation of its new Hospitality Systems group, focused on providing complete payment solutions for restaurants. Exhibiting at the 2006 Multi-Unit Restaurant Technology Conference here, the Hospitality Systems group is hosting the first U.S. demonstration of the company’s new Vx 670 handheld payment platform.
Building on Verifone’s success in delivering high speed payment systems to Quick Service Restaurants across North America, the Hospitality Systems group stands poised to make a similar impact on payments for casual and fine dining operators with the introduction of its first product built specifically for POS-integrated tableside and curbside payments.
"The addition of the Hospitality Systems business unit to Verifone’s North American organization represents our commitment to the hospitality industry and the opportunity to modernize payment systems in all restaurants," said Jesse Adams, Verifone executive vice president, North America Sales. "Verifone is ushering in a new era with solutions that allow all restaurants and hospitality operators to bring high-speed electronic payments to the point of service."
The convergence of increasing consumer use of debit cards with the availability of secure and reliable wireless networks offers new opportunities to attain faster settlement, quicker table turns, reduced risk of cardholder fraud, and lower card processing fees in the hospitality industry. The Vx 670 being demonstrated at MURTEC was designed from the ground up for use in point of service applications such as payment at the table, where the system can be handed to a patron who will swipe their own card, enter their debit PIN numbers and can even add a tip on the payment device.
"Verifone is integrating the Vx 670 with leading electronic POS systems to ensure that restaurant operators can add this exciting new system for payment acceptance without having to replace existing infrastructure," said Rob Regan, general manager of Hospitality Systems. "In a full service restaurant, card payment transactions can require as many as eight steps for the server and customer to complete. Verifone’s integrated handheld payment systems can reduce that to just three steps, saving time for the restaurant and improving customer service."
Leveraging Verifone’s 20 years of experience producing customer activated payment devices, the Vx 670 offers the largest user interface in the industry, while retaining the industry’s smallest size and weight for an all-in-one unit. The Vx 670 combines a remarkably stylish and light-weight design, with a rugged case that is impact and spill-resistant to handle demanding conditions in hospitality environments. It utilizes 802.11G Wi-Fi for connectivity with existing store wireless local area networks and advanced WPA encryption for network security.
Verifone is demonstrating several payment solutions at MURTEC to enhance payment at the table, on the countertop and at curbside. Additionally, Verifone is exhibiting the full range of connectivity choices available to restaurants, including high speed connections over local area networks, Wi-Fi and cellular networks. Visitors to the booth will be invited to meet the hospitality systems team and enter to win a new iPod Nano.