Wireless Pay-At-Table Solution Speeds Service, Offers Security
San Jose, CA - October 11, 2007 - Verifone Holdings, Inc. (NYSE: PAY) today announced it has added Ruth’s Chris Steak House of Austin to the roster of restaurants using its ON THE SPOT payment at the table solution.
Servers at the fine dining restaurant at 107 West Sixth Street will bring their patrons a small, handheld Verifone Vx 670 payment system that allows them to swipe their own credit or debit cards at their table. ON THE SPOT speeds service to Ruth’s Chris’s customers and allows for a secure transaction with no fear of identity theft.
Sal Olivas, Ruth Chris’s general manager, said he turned to ON THE SPOT to streamline the payment transaction and serve his customers faster. “When people want to leave the table, they want to leave,” he said. “We try to expedite their needs on their timetable.
Olivas said he believes ON THE SPOT will speed his guests’ transaction time by five to 10 minutes. “On a busy night, when customers need a table, that will be crucial,” Olivas said of the quicker table turns. But he also noted the security benefits for customers: “We’re doing this for our guests’ sake, for their conveniences, security and peace of mind.”
“Ruth’s Chris’s use of ON THE SPOT shows the versatility of our suite of products,” said Paul Rasori, Verifone’s vice president of global product marketing. “In today’s environment, payment at the point of service is more important than ever, as operators and patrons want security against identity theft. The additional value the product brings to an operator is greater operational efficiency and profitability as it relates to table turns, server time and processing fees.”
ON THE SPOT is designed to cut down on the increasingly common problem of credit card fraud and also allows restaurant operators to take advantage of lower-cost PIN debit payment.
By allowing patrons to slide their own cards rather than handing them to another person, ON THE SPOT virtually eliminates the possibility of a server “skimming” a card and cloning account information. TransUnion has estimated that 70 percent of all skimming takes place in a restaurant environment.
ON THE SPOT uses special encryption and other security features to protect all financial data transacted over a restaurant’s Wi-Fi network. These security features are a necessity today, with credit card fraud now the most common form of identity theft, according to the Federal Trade Commission. ON THE SPOT has pioneered the use of Wi-Fi and GPRS cellular communications to provide online payment authorization at the point of service in North American restaurants.
About Verifone Holdings, Inc.
Verifone Holdings, Inc. (“Verifone”) (NYSE: 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.