Half of All Medallion Owners in City Using or Committed to
VeriFone Integrated Passenger Payment and Information System
NEW YORK--(Business Wire)--
VeriFone Holdings, Inc. (NYSE:PAY) announced today that VeriFone
Transportation Systems has added new programming, including
People.com, to the content available on the interactive mobile
information screens at the heart of its integrated payment and
information system in New York City taxis.
In addition, VeriFone announced that 6,500 New York City
taxis--half of the total city fleet--are now signed or committed to
comprehensive multi-year agreements with VTS for in-taxi acceptance of
credit cards, making the company the leading vendor in the taxi
technology market. This figure includes the more than 6,050 integrated
passenger information and payment solution systems that are already
installed in NYC taxis, and represents totals that greatly exceed the
company's original projections.
"Interest in the VeriFone in-taxi system is robust and continues
to attract attention from taxi passengers," says Douglas G. Bergeron,
CEO of VeriFone. "The combination of the superior technology, ease of
use and passenger benefits offers a full package that is quickly
becoming the standard in the market and allows us to continue to
expand entertainment and information offerings for passengers."
In addition to People.com, the leading celebrity news site, VTS is
also providing content from PMbuzz.com, a leading source of
information on the New York night life scene, and Disney Broadway,
which brings Disney classics to the stage. The VTS system features a
Passenger Information Monitor with a 10.4-inch touch-screen monitor
that features programming from a host of providers, including
WABC-TV's local news, AccuWeather, Reuters Business News and the Zagat
Survey, in addition to the new sources.
"By being in the cabs, we are able to reach more people in three
days than any New York night life Web site reaches in one month," said
Danny Epstien, president and founder of PMbuzz.com. "It's a new tool
to help people plan their nights while they are actually on the go."
VTS was the first vendor authorized by the NYC Taxi and Limousine
Commission (TLC) to implement systems for the city's 13,000 taxis. VTS
expects to soon be serving more than 50 percent of the city's taxi
fleet. The VeriFone-based solution was installed as part of a mandate
from the TLC requiring all taxis to offer credit/debit card acceptance
and an interactive electronic passenger map and information screen.
The wireless-based credit card transaction system meets or exceeds
payment card industry (PCI) standards and does not store any
unencrypted data.
Satisfied Passengers, Operators, Drivers
New York taxi patrons have been pleased with the benefits of the
system, including the GPS component that allows for quick recovery of
items accidentally left in cabs. Medallion owners are also reporting
positive results. "VeriFone's technology is the best thing to happen
to the taxi industry in its 100 year history," says Sunny Zahoori, a
20-year taxi industry veteran and manager of East West Management
Corporation, a taxi garage in Manhattan. "Our drivers have seen a 35
percent increase in fares and significantly higher tips as a result of
the new system."
VeriFone is the majority shareholder of VeriFone Transportation
Systems, a joint venture between VeriFone Holdings, Inc. and
TaxiTronics, the company that services more than 8,000 of the taxi
meters in the New York City cab fleet.
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.
VeriFone Public Relations
Pete Bartolik, 508-283-4112
pete_bartolik@verifone.com
or
Cookerly Public Relations
Joey Ledford, 404-816-2037
joey@cookerly.com
Copyright Business Wire 2008
