SAN JOSE, Calif.: VeriFone Holdings Inc. announced in a news release it has been named winner of the Frost & Sullivan 2005 Product Line Strategy Leadership Award in recognition of its innovative payment transaction solutions and value-added services at the point of sale that "demonstrated superior insight into customer needs and product demands." It is the first time in three years that Frost & Sullivan has designated this award in the EFT POS industry segment.
Frost & Sullivan cited VeriFone's Enhanced Communications product line and said, "VeriFone is consolidating its industry position through a comprehensive line of EFT POS solutions that use reliable wireless and IP-based communications. These solutions support IP-based CDMA, GPRS and Wi-Fi technologies for secure, 'always on' connectivity." According to the consultancy, merchants using VeriFone payment solutions "are able to justify total cost of ownership through intuitive products that help lower investments in staff training."
According to the Frost & Sullivan award, VeriFone's product line offers merchants from every segment the following benefits:
- Speed: Increased transactions during peak hours and better customer service
- Security: SSL standard and VeriShield security with file authentication to tackle fraud
- Cost Savings: Elimination of dial-up lines and leveraging existing network infrastructures (DSL, Cable, Ethernet). Additionally, it offers cost effectiveness by bypassing proprietary wireless gateway processors.
- Modular and Upgradeable Architecture: Range of connectivity and payment options that can be easily upgraded as technologies or business needs change.
- According to Frost & Sullivan, VeriFone's architecture enables multiple value-added applications such as gift and loyalty card programs, healthcare insurance eligibility, time and attendance tracking, EBT, and check authorization that can be customized for specific merchant environments.
