Providing contactless payments
VeriFone Systems will provide the merchant payment solutions in the initial phase of contactless payment implementation in Mexico City by the Mexican bank, Banamex (view press release). Several thousand VeriFone contactless-enabled card acceptance systems will be deployed to 1,900 merchants in the Mexico City metropolitan area, and the bank will issue 100,000 contactless credit and debit cards.
The bank will deploy the VeriFone VX 520 to merchants who use standalone countertop systems and the VX 820 advance PIN pad to retailers with integrated payment and electronic cash register systems. By the end of 2012 the bank aims to issue 1 million contactless cards and 12,000 payment acceptance systems. For purchases under 250 pesos (USD 15) no signature is required.
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