Restaurant-Specific ON THE SPOT Solution Enhances Speed of Service,
Offers Security against Fraud
SAN JOSE, CALIF., June 14 /CNW/ - VeriFone Holdings, Inc. (NYSE: PAY)
today announced that Cara, the largest operator of full service restaurants in
Canada, has selected the ON THE SPOT pay at the table system designed
exclusively for the hospitality industry.
With this multi-million dollar rollout, Cara becomes the largest
restaurant operator and the first in Canada to provide its customers with
payment at the table. Cara owns many of Canada's most popular restaurant
concepts with stores totaling over 800, including the Swill Chalet, Harvey's,
Kelsey's, Montana's Cookhouse and Milestone's Grill & Bar brands.
"This is the largest order to date for VeriFone's industry leading ON THE
SPOT payment solutions," said Douglas G. Bergeron, chairman and CEO of
VeriFone. "Cara will strengthen its leadership in the Canadian dining market
by providing its customers with speedier, more secure and more convenient
payment options and realizing significant operational improvements."
ON THE SPOT is designed to significantly improve security for restaurant
patrons and cut down on the increasingly common problem of credit card fraud.
It has two main platforms - one that allows at-the-table, curb or point of
delivery payment for full-service family, casual and fine dining restaurants
(model Vx 670); and the other designed for use at drive-thru windows (model
QX720). At Cara, ON THE SPOT is integrating seamlessly with MICROS Systems,
Inc. (NASDAQ: MCRS) point-of-sale solutions.
"Full service restaurants in North America were once early adopters of
credit card payment, but have been slow to respond to changing consumer needs
for enhanced security and increased payment options," Bergeron said. "VeriFone
has developed a suite of products specifically for restaurants operators to
meet those needs."
ON THE SPOT allows patrons to hold on to their card during the payment
process, thus cutting down on "skimming," an increasingly common practice in
which a restaurant employee swipes the card through a special device that
records its owner's account information, which can then be used in identity
theft. TransUnion estimates that 70 percent of all skimming takes place in the
The payment system also uses special encryption and other security
features to protect all financial data transacted over a restaurant's Wi-Fi
network. These security features are a necessity today, with the Federal Trade
Commission reporting that credit card fraud has become the most common form of
Restaurant owners may also experience an additional benefit of lower
credit card processing fees when customers use PIN-based debit cards, which
incur lower processing fees than signature-based credit transactions.
The use of payment devices similar to ON THE SPOT has been widespread in
Europe for years and is picking up steam in North American restaurants.
VeriFone's ON THE SPOT is the most widely deployed solution in the U.S. and
Canada since being launched in May of 2006 at the National Restaurant
Association trade show.
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.
For further information:
For further information: For VeriFone Cookerly Public Relations Candace
McCaffery, 404-816-2037 email@example.com or VeriFone Public Relations Pete
Bartolik, 508-283-4112 firstname.lastname@example.org