VeriFone Holdings (NYSE: PAY) today announced it has been awarded a multi-year dollar contract valued at up to $10 million to provide the U.S. Postal Service with electronic payment solutions for use across the U.S.
VeriFone will provide the Vx 570 countertop payment solution with dual communications capabilities to provide both traditional dial modem and Internet-based connectivity for 18,000-20,000 customer windows. The countertop solution will include the PINpad 1000SE for debit card PINs and the company will also provide thousands of the VeriFone Vx 610 portable system, including both CDMA and GPRS versions, for mobile, remote and disaster recovery purposes.
"This is a tremendous affirmation of VeriFone's capabilities as the premier electronic payment solutions provider and one of the most significant competitive wins of the year worldwide," said Bud Waller, VeriFone executive vice president, Integrated Solutions.
VeriFone's payment platforms provide the USPS with PCI PED (Payment Card Industry PIN Entry Device) support and conform to the most stringent security standards around the world. VeriFone will develop a customer interface to a payment gateway that the U.S. Postal Service will operate to ensure it has access to the lowest cost credit and debit processing services.
VeriFone payment card acceptance systems will provide USPS customers with fast and secure processing of credit and both PIN debit and signature debit payments. The wireless Vx 610 will enable the USPS to set up remote promotions where phone lines and Internet connections are unavailable and will provide back-up capabilities in the event of a disaster that interrupts local phone services.