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VeriFone Powers Contactless Subway Trial in New York

Strategic Insights

— 1 min read

VeriFone Holdings, Inc., a leader in secure electronic payment solutions, has announced its participation in the contactless subway trial in New York, partnering with the New York City Metropolitan Transportation Authority, Citibank, and MasterCard. The trial, which began this summer, involves 80 VeriFone Secura systems installed at various Metro stations, allowing 50,000 Citibank customers to make payments using their contactless credit or debit cards. The goal of the trial is to demonstrate the feasibility of contactless payments in a non-traditional setting, showcasing VeriFone's future plans for integrated payment software and technology deployment.

Key Takeaways:

  • VeriFone is providing the integrated payment solutions for the contactless subway trial in New York, including the VeriFone Secura system with contactless smart card capabilities and management software.
  • The trial involves the participation of VeriFone, Citibank, and MasterCard, and is being managed by the New York City Metropolitan Transportation Authority.
  • The pilot began this summer and includes 80 systems installed at various Metro stations.
  • The pilot is open to any of the 50,000 Citibank contactless customers with a Citi credit and Citibank Debit payment tag or Citi credit or Citibank Debit MasterCard card with the PayPass logo.
  • The VeriFone Secura system is a highly secure solution set that has been used in the London Underground, kiosks, and vending machines throughout Europe.
  • The product was originally developed by Dione plc, a former subsidiary of Lipman, and is now a strategic component of the VeriFone product portfolio.
  • Douglas G. Bergeron, chairman and CEO of VeriFone, emphasized the significance of the trial, stating that it is a prime example of their future plans for providing integrated payment software and related technology for deployment in non-traditional locations.

Statistics:

  • 80 VeriFone Secura systems have been installed at various Metro stations in New York as part of the contactless subway trial.
  • The pilot is open to 50,000 Citibank contactless customers.
  • The VeriFone Secura system is used in 3 locations: the London Underground, kiosks, and vending machines throughout Europe.

Sources:

  • VeriFone Holdings, Inc.
  • New York City Metropolitan Transportation Authority
  • Citibank
  • MasterCard
  • Dione plc
  • VeriFone.com

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