Verifone Holdings, Inc. (NYSE: PAY), today announced that Barwood Taxi of Kensington has deployed 200 Verifone Transportation Systems (VTS) passenger information modules (PIMs) that enable passengers to swipe their own credit cards and watch videos about local services.
Barwood is the first taxi company in the Washington, D.C., metro region to equip its cabs with PIMs that speed acceptance of credit and debit cards, while also providing access to video services. Barwood, which handles about 1.2 million rides a year, expects to have monitors in its entire fleet of 435 taxis by the end of the year.
“Offering a self-service payment option is a mark of good customer service today,” said Lee Barnes, president and CEO of the 49-year-old company. “Verifone's technology will enhance passengers’ experience with Barwood and save time for both customers and drivers.”
By year’s end, the company plans to introduce paid advertising on the monitors, giving marketers an opportunity to reach an estimated 210,000 passengers a month.
“Barwood Taxi is first to introduce advanced passenger payment and information technology to the greater D.C. region,” said Amos Tamam, president of VTS. “Across the country, forward-thinking fleet owners and municipal transportation planners are recognizing that technology available today can improve passenger convenience while bringing new efficiencies to management of taxi services.”
VTS provides next-generation solutions that deliver wireless payment, navigation, dispatch, text messaging, and real-time information to the transit, vehicle for hire, dispatch, and cargo transportation industries. VTS is also the sole supplier of systems in Philadelphia and the largest supplier in New York City.
The VTS systems utilized by the Barwood fleet are based on Verifone’s MX 870 multimedia payment systems, which support secure credit card transactions. The MX 870 is the leading choice for organizations that want to leverage full featured automation capabilities such as dispatch automation, text messaging, voice guided navigation, real-time moving map functionality and passenger information delivery.
About Verifone Transportation Systems (www.VerifoneTS.com)
Verifone Transportation Systems is a joint venture between Verifone Holdings, Inc. (NYSE: PAY), and TaxiTronic, Inc., to provide the next generation in mobile payment and transportation automation solutions. Verifone Transportation Systems delivers wireless payment, voice guided navigation, dispatch, text messaging and real-time information delivery capabilities for transportation fleets.
About Verifone Holdings, Inc. (www.verifone.com)
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.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for Verifone Holdings, Inc.:
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the forward-looking statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other risks and uncertainties affecting the operation of the business of Verifone Holdings, Inc. These risks and uncertainties include: our ability to successfully deliver innovative security solutions for protection of cardholder data, our customers' acceptance and adoption of our newly released products and applications, our ability to protect against fraud, the status of our relationship with and condition of third parties upon whom we rely in the conduct of our business, our dependence on a limited number of customers, uncertainties related to the conduct of our business internationally, our dependence on a limited number of key employees, short product cycles, rapidly changing technologies and maintaining competitive leadership position with respect to our payment solution offerings. For a further list and description of such risks and uncertainties, see our filings with the Securities and Exchange Commission, including our annual report on Form 10-K and our quarterly reports on Form 10-Q. Verifone is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.