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October 23, 1988


By CBR Staff Writer

Verifone Ltd has announced a clutch of deals to supply electronic funds transfer equipment to companies in Europe and the Middle East. The Uxbridge, Middlesex firm, set up last May as an off shoot of its US parent Verifone Inc to market products in Africa, the Middle East and Europe, has subsequently won contracts with Sweden’s National Bank Card Administration, a Spanish savings bank plus an order from the Petra Bank in Jordan to install a system linking hotels airports and shops – effectively the first electronic funds transfer system in the Middle East, claims Verifone. The installation for the Caja de Ahorros Provincial de Alicante is the biggest at $1m. A total of 6,000 terminals have been ordered for a range of outlets spanning grocers, restaurants and cafes which will link back to Caja’s central authorisation facility in Alicante. Retailers will initially verify payments using Caja’s Red 6000 card and the terminals will be configured to accept Visa and Mastercard credit cards at a later stage.

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