Verifone Systems, Inc. (NYSE: PAY), today announced a contract to supply 15,600 NFC/contactless payment solutions to ComfortDelGro Corporation Ltd. for its Singapore taxi fleet.
ComfortDelGro is the largest fleet operator in Singapore with 15,600 taxis and is one of the world's largest land transport companies with a total fleet size of more than 45,600 vehicles. Verifone's VX 820 with integrated contactless payment acceptance capability will interface with the in-vehicle Mobile Data Terminals (MDTs) in its entire fleet of taxis.
"We're seeing an increasing demand for contactless solutions across segments such as retailers, banks and mobile operators," said Zvi Mitlanski, vice president & general manager, Verifone Asia Pacific. "This is another tremendous competitive win for Verifone's integrated NFC/contactless solutions in the region's taxi segment, following our earlier success with Cabcharge and GM Cabs in Australia."
Verifone previously supplied a smaller number of NURIT PIN acceptance systems and the new contract will replace those as well as some 10,000 other systems from a competitor. ComfortDelGro selected the VX 820 for its intuitive user interface for passengers and drivers, and its ability to provide integrated contactless solution in a small form factor coupled with the latest PCI PTS 3.0 security to future proof the investment.
"This is in line with the company's move towards providing a contactless payment option on top of the cashless options that are already available on board our taxis. With the new Verifone VX 820 payment system, passengers can look forward to more cashless payment options," said Yang Ban Seng, chief executive officer, ComfortDelGro Taxi Business.
The VX 820 is the PIN acceptance solution in the new VX Evolution product family, which not only provides optional integrated contactless and NFC capabilities but also leading features such as industry firsts - a 3.5" color touch screen, ARM 11 processor and 500 MB memory. The contactless antenna in each system is also ergonomically designed to be under the display screen, with no need for a separate snap-on-reader or add-on peripheral.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for Verifone Systems, Inc.
This press release includes certain forward-looking statements related to Verifone Systems, Inc. within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on Verifone 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 Systems, Inc. These risks and uncertainties include: the successful trial of our mobile payments solution with Google and participating retailers, 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.
About Verifone Systems, Inc. (www.verifone.com)
Verifone Systems, 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.