Verifone Holdings, Inc. (NYSE: PAY) today announced it has been awarded a multimillion dollar contract to supply 20,000 units of the Verifone Vx 810 full-function PIN entry system with contactless payment module. Cabcharge Australia Limited (ASX: CAB) selected the Verifone system to provide drivers and passengers with improved convenience, security and speed.
The Cabcharge non-cash fare management system is offered in approximately 96 percent of all taxis in Australia, as well as in other transport systems such as limousines and water taxis. About 400 taxi companies accept Cabcharge facilities across Australia, representing around 18,000 taxis.
“The investment we are making in this next generation technology maintains our leadership position internationally and provides a more convenient, faster and safer service for consumers,” said Cabcharge Chairman and CEO Reginald Kermode.
Verifone’s Vx 810 will be an integral part of Cabcharge’s next-generation fare management system, featuring Chip and PIN, Pen and PIN and contactless, and will also support payments initiated from mobile phones using the emerging Near Field Communications (or NFC) standard. The roll out of the new system will commence in October 2008 and be completed by December 2009 in taxis that use the Cabcharge system.
“Cabcharge is recognized internationally for its use of technology combined with industry expertise to deliver gains in revenue and operating efficiencies,” said William C. Nichols, Verifone senior vice president and general manager, Asia-Pacific. “With Verifone payment solutions revolutionizing taxi payment acceptance around the world, from Sydney to New York, we’re delighted to team up with a like-minded innovator.”
The Vx 810 is an ultra-sleek, fully programmable PIN entry system combining the smallest footprint with the largest user interface. Its ergonomic design with ATM-style interface, large keypad and high resolution display is highly suited to handing over to consumers for card activation. The system supports a broad range of payment and value-added applications and meets the latest security standards, including PCI PED as well as EMV Level 1 and 2.
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.
About Cabcharge Australia Limited (www.cabcharge.com.au)
Cabcharge Australia Limited (“Cabcharge”) (ASX: CAB) is a world leader in electronic payment systems for the transport sector. Cabcharge electronic payment systems are found in over 95 per cent of Australian Taxis, limousines and water taxis. The largest taxi company in Australia, Taxis Combined is owned by Cabcharge. Also owned by Cabcharge is CCN an Australian logistics company that operates the country’s largest fleet of taxis and provides specialised transport services and technology to taxis and buses across Australia.