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Technology Stocks : VeriFone Holdings, Inc. (PAY)

PAY 36.09

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From: JakeStraw	7/31/2008 9:29:53 AM
	of 186

VeriFone Drives Transportation Payment System in Turkey biz.yahoo.com Thursday July 31, 9:00 am ET Integrated Solution Combines Passenger-Facing Multimedia Payment Display, Contactless Acceptance with WiFi and GPRS Communications SAN JOSE, Calif.--(BUSINESS WIRE)--VeriFone Holdings, Inc. (NYSE: PAY) today announced that it has developed an EMV certified integrated transportation payment system in conjunction with Bank Asya (ISE: ASYAB) of Turkey that is now in use on buses in the city of Kahramanmaras. The transportation payment system was designed to enable municipalities to transition their bus systems from cash to bank cards and credit cards. VeriFone designed an integrated solution that accepts payment by EMV cards and utilizes contactless technology. The project was planned and implemented in cooperation with Bank Asya, Turkey’s biggest interest free bank. Bank Asya will issue payment cards for the system and MasterCard® PayPass™ contactless cards that will speed up passenger payment. MasterCard and Bank Asya recently launched Asyacard DIT, a multi-application chip and PIN card that combines MasterCard EMV OneSmart features with an integrated municipal toll and transit application as well as contactless technology.

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