VeriFone and Epic launch future generation payment devices

Globally renowned US giant in manufacturing of payment devices VeriFone Inc. together with their technology partner in Sri Lanka, Epic recently launched future generation payment devices in the local market. The latest EDC POS device, the VeriFone VX 520 was introduced to the local banks by Edgar Chen, Country Manager of VeriFone Singapore.

This state-of-the-art, tiny yet rugged hardware device can be loaded with innovative software solutions designed and developed by Epic making the equipment a mobile bank said Chen at the launch.

The EDC POS terminal hitherto used for swiping your credit card has now been transformed to a mini bank enabling financial institutions to reach the masses with on line real time banking services offered at customers’ doorstep, he added. VeriFone Inc has been in the forefront of technology innovations in the electronic payment industry and continues to offer new devices to meet the changing needs of the consumers and markets, he concluded.

Expressing his views, Epic Director/General Manager Viraj Mudalige said that the software solutions they developed have enabled the users of the VeriFone devices to increase the utilisation both in terms of scale and scope.

By simulating over 15 banking functionalities, banks and financial institutions in the region use VeriFone EDC POS terminals in enrolling customers in the field, mobilising deposits, facilitating withdrawals and recoveries.

Epic is proud to partner with a global leader in manufacturing these devices and time tested innovative software solutions of Epic now facilitate an array of banking services from microfinance to agency banking and community banking to premier banking covering all social strata, he added.  VeriFone VX520 is designed to meet the future requirements of the payment card industry and supports wired as well as wireless telecommunication infrastructure.

It also supports contact and contactless payment cards in initiating financial

transactions.

Encompassing the fastest processor for a EDC POS terminal to date, the VeriFone VX520 terminal comes with a 400 MHz ARM 11 32-bit RISC processor, and a staggering 160 MB standard memory upgradable to 500 MB, with a triple communication platform utilising dial up, GPRS and IP communication ports, sealing its foothold as a long term, investment friendly, value for money EDC POS terminal.