VeriFone forms joint venture with TaxiTronic; upgrades Meijer contactless payment systems
26 October, 2005
category: Contactless, Financial
From taxis to grocery stores, VeriFone Holdings is seeing its contactless technology being utilized in different venues. First, it announced a joint venture with TaxiTronic, Inc. to equip taxes with integrated fleet management and customer payment systems. Second, the company says it has completed upgrading a Midwest grocery and general merchandise retailer’s payment system to allow it to accept contactless cards.
VeriFone Holdings, Inc. announced that it has formed a joint venture with TaxiTronic, Inc., that will equip taxis with integrated fleet management and customer payment systems.
The joint venture, VeriFone Transportation Systems, Inc. (VTS), will supply fleet and private taxi owners with VeriFone’s secure payment and multi-media content delivery systems to provide an interface for fleet management, dispatch, scheduling, messaging, GPS navigation, customer reporting, and other functions. VTS will also generate revenue from transaction processing fees and provision of ongoing support services.
“VTS is setting a new industry benchmark for taxi fleet management by leveraging VeriFone’s payment systems expertise and TaxiTronic’s taxi equipment market experience to respond to consumer demands for improved service and convenient access to electronic fare payment options,” said Douglas G. Bergeron, chairman and chief executive officer of VeriFone. “Several cities are in the process of contracting for fleet automation solutions to more effectively manage private and public transportation resources.”
VTS will utilize the VeriFone MX870 connected to TaxiTronic’s TX-36 network controller, which will communicate via cellular wireless to servers run by fleet operators and municipal taxi authorities. Incorporating GPS, the fleet automation system will enable operators and municipal managers to monitor flow control to ensure that taxis are dispatched to areas where they are most needed. VTS will also provide passenger compartment payment systems so fares can be paid without having to hand over credit or debit cards. Additionally, VTS solutions will be able to accommodate contactless payment cards, signature capture and metropolitan transit system smart card-based fares.
Meijer upgrades
VeriFone Holdings also announced that Meijer Stores has completed the in-place updating of thousands of VeriFone Omni 7000MPD customer-facing payment systems with modules to accept contactless payment cards. Meijer, a grocery and general merchandise retailer, and one of the fastest growing privately-owned companies in the United States, was one of the earliest adopters of the modular Omni 7000MPD.
The VeriFone payment solution enables Meijer to accept contactless payment cards from MasterCard, American Express and Visa at all of its locations located in Illinois, Indiana, Kentucky, Michigan and Ohio. Meijer recently announced it was the first super center chain in the United States to accept MasterCard PayPass. The Meijer Platinum MasterCard card combines the features and benefits of the Meijer private label store card with the worldwide acceptance of a MasterCard card and the added functionality of PayPass contactless “tap and go” payments.
“Meijer was able to update their installed base of Omni 7000MPD systems over a three month period without disruption,” said Bud Waller, VeriFone executive vice president, Integrated Solutions. “This demonstrates the modular architecture VeriFone developed to future-proof merchant investments and adapt to changing technology and circumstances.”
VeriFone is an industry leader in enabling merchants with the contactless payment option, which speeds up transactions and for smaller purchases eliminates the need for consumers to hand over their cards. The modular design of VeriFone’s Omni 7000MPD made it possible for Meijer to transition quickly to contactless payments and increase the ability of stores to serve customers quickly and efficiently. The company was able to swap in the contactless module to their installed systems without even powering down.
Adding contactless payment to the point of sale offers significant advantages for quick service restaurants, drug stores, supermarkets, gas stations and other establishments where speed and convenience are needed to maintaining customer loyalty and maximizing revenue during peak hours. Contactless modules can be added to base model Omni 7000MPD and Omni 7100MPD terminals at purchase or after the terminals are put into use, without returning the terminals to the manufacturer. The Omni 7000MPD and Omni 7100MPD were designed to provide a simple and cost effective upgrade path for retailers to take advantage of advanced features without re-engineering their entire POS and back-office infrastructure.
