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Technology Stocks : VeriFone Holdings, Inc. (PAY)

PAY 36.16

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Nov 6 3:59 PM EST

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From: JakeStraw	6/28/2007 8:17:04 AM
	of 186

VeriFone's PAYware Selected For Hong Kong's First Ever Gift Card Scheme biz.yahoo.com Thursday June 28, 6:00 am ET ValuAccess Implements PAYware GiftCard to Provide End-To-End Management for New Retail Program in Asia SAN JOSE, Calif.--(BUSINESS WIRE)--VeriFone Holdings, Inc. (NYSE: PAY) today announced that stored value gift card program provider ValuAccess has selected VeriFone's PAYware GiftCard as the technology platform for its gift card system. The system was initially rolled out in ValuAccess's home city of Hong Kong and is planned for other major urban areas across China and the rest of Asia. ValuAccess enables retailers in the region to sell and accept gift cards in their stores. This includes the ability for major retailers to sell their branded gift cards in stores other than their own, thus expanding the sales channels for their products. This concept, known as a Gift Card mall, is already well proven in the United States and gives the distributing retailer the opportunity to achieve additional revenue from a very small store area. ValuAccess also enables retailers to operate a full-featured loyalty programme using the same gift card and infrastructure. Using the comprehensive PAYware GiftCard management system, ValuAccess is able to distribute the gift cards; process gift card and loyalty point transactions; and manage the complete business from end-to-end, thus eliminating the need for third-party external agencies. ValuAccess has already signed up a number of major retailers and leisure organizations. These include HMV, the Dymocks bookstore chain and the Hong Kong trade development council's Design Gallery. ValuAccess has also introduced a Cinema Card for Edko Films Limited, Hong Kong's largest cinema operator, which runs cinemas under the AMC, Broadway and Palace brands. Cinema customers are able to buy tickets and book reservations online using the gift card. ValuAccess's gift card mall distribution network already includes approximately 800 7-Eleven stores throughout Hong Kong.

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