China’s Fifth Largest and Newest Lender Selects Verifone’s Vx 510 Countertop and NURIT 8000 Wireless Systems
San Jose, CA - June 13, 2007 - Verifone Holdings, Inc. (NYSE: PAY) announced today that it has been selected as the sole provider of electronic payment systems by the China Postal Savings Bank. The designation concludes an extensive evaluation and further strengthens Verifone’s position as the industry leader in the Chinese market. Verifone will supply the Verifone Vx 510, with dual dial and IP connectivity, and the wireless NURIT 8000 with GPRS connectivity.
China Postal Savings Bank was chartered as a lending institution in 2006 and opened for business earlier this year. It succeeded the depository-only postal savings service, which since its inception in 1986 had accumulated savings deposits of 1.516 trillion yuan (US$190.8 billion), making it China’s fifth largest bank. The bank operates 36,000 branch offices throughout the country.
“In choosing Verifone to supply all payment systems at such a momentous time in its history, China Postal Savings Bank has laid the groundwork for a sound working partnership as well as mutual growth,” said Yong Xiao, general manager of Verifone China. “Our success with this emerging financial institution reflects the vision and industry leadership that Verifone brings to China’s electronic payments market.”
Verifone’s Vx 510 countertop system provides exceptional performance for payment and value-added applications, including data-intensive, EMV smart card transactions.
The NURIT 8000 is a lightweight, handheld system enabling fast, secure, error-free transactions and featuring a large touch screen and a wide range of options that enhance its value-added functionality. Its sophisticated multi-application platform supports a range of payment and value-added services – including credit, debit, EBT, smart cards, prepaid, loyalty, gift and proprietary cards.
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.