Verifone Systems, Inc. (NYSE:PAY), the global leader in secure electronic payment solutions, and LifeNexus, Inc., the developer of the iChip™ and Personal Health Card ®, today announced an agreement to provide iChip acceptance software on Verifone payment acceptance solutions. The LifeNexus Personal Health Card is the first multi-purpose electronic health card utilizing the embedded iChip for securely maintaining an individual's health record and incorporates a payment card option.
Making iChip acceptance software available on Verifone systems at pharmacies, hospitals and physician offices makes it easy for consumers to securely exchange their private healthcare information with providers. With the Personal Health Card, consumers can carry their health records in their wallet, use it as easily as a credit or debit card, and with the payment card option can even pay for services and co-payments.
"This is an innovation that consumers have long been waiting for -- control and portability of their own health records," said Douglas G. Bergeron, CEO of Verifone. "Extending the convenience of payment cards to health records provides greater security and usability, but more importantly ties into the extensive infrastructure of Verifone solutions deployed throughout North America."
The LifeNexus Personal Health Card was designed specifically to securely maintain an individual's Personal Health Record (PHR) on a card in their wallet. The patented iChip™ , (Individually Controlled Health Information Platform ™), utilizes "mobile server" technology embedded on a chip card which is both encrypted and password-protected, providing a highly secure environment to store comprehensive health information for individuals and their family members.
Christopher Maus, CEO of LifeNexus, said: "The wallet has long been the mobile platform to store and grant access to private information such as payment, membership, reward and insurance cards. These cards securely transfer information through cardholder authorization. With the Verifone relationship, individuals now have the same control, security and rich experience with their health records."
The consumer ensures privacy between themselves and their healthcare provider through consumer-authorized access. An individual's information stays in their wallet, not on a web-based server. This eliminates consumer concerns about strong sensitive data on an unrelated third party web server while also supporting the adoption of electronic medical records by their health care providers.
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 integration of the iChip acceptance software on Verifone payment solutions, 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.
About LifeNexus, Inc.
LifeNexus introduces a new era in portable health records with the Personal Health Card®. This technology was designed specifically for maintaining an individual's Personal Health Record (PHR) on a card in their wallet. The patented iChip™, "Individually Controlled Health Information Platform™," utilizes mobile server technology to securely store critical information including prescriptions, medical history, allergies, insurance data, emergency contacts, physician notes, as well as other key information. Individuals authorize access to critical information at the time and point of need. With sensitive information securely encrypted, password protected and "Off-the-Web" the consumer is in absolute control with the iChip. Now individuals can manage their personal health information and at their choice, the iChip can be applied to payment cards, conveniently making general day-to-day purchases on the same card.
For more information about LifeNexus, visit www.personalhealthcard.com