June 8 2003

VeriFone, the electronic payment solutions developer has lunched a CDMA2000 1X based payment terminal. This new capability allows traditional transactions to be completed in less than 3 seconds, considerably faster than the 20 plus seconds for a regular debit or credit transaction over a wireless link. This solution expands the reach of payments to taxis, delivery companies, mobile kiosks, table payments, and traditional retails outlets.

Coupled with the CDMA2000 1X modem technology, the Omni 3600 wireless platform utilizes TCP/IP to form a solution delivering high-speed data-packets directly to the processing host’s IP gateway. Adding the IP technology to its terminals, VeriFone made possible the connection with already existing IP networks like Internet, corporate LANs, wireless data-packet networks, and even satellite networks.

“The launch of the Omni 3600 CDMA wireless terminal brings a new paradigm to the Latin American POS market,” said Bill Nichols, marketing director, Latin American and the Caribbean at VeriFone. “The new device opens the window of opportunity for applications and services beyond the traditional payment capture marketplace, and we’re already seeing examples of this innovation in action in the region.”

The terminal can communicate to WAP-enabled Internet home pages, consult on inventory position, electronically transmit order information and perform a host of other functions not typical of traditional POS terminals.

Besides high-speed transmission of data, enabled by the CDMA 1xtt technology, the Omni 3600 works through a concept know as a “dedicated virtual connection,” developed by VeriFone, in which a device remains connected and eliminates the waiting time found in traditional modem communications. This reduces the total transaction speed from over 20 seconds to below 3 seconds. “This significantly reduces telecommunications costs for the merchant and enhances customer service,” Nichols added.

The Omni 3600 wireless terminal comes complete with a triple track magnetic card reader, smart card reader, internal PINpad, and integrated printer, making it capable of accommodating a full range of applications. It meets all specifications required for EMV standards, and meets regional requirements for 3DES and PIN entry device (PED) security as required by MasterCard, Visa and American Express.

The Brazilian project launched earlier this year between VeriFone, Visanet and JV Telesp Celular Particpipacoes/ Telefonica Celular, placed terminals at restaurants and shopping malls in and around Sao Paulo. The equipment has proved efficient in supporting mobile payments and plans are in place to expand the coverage to other segments, including delivery services and taxicabs.

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