VeriFone Forms Professional Services Division; Names Leaders

Business Wire, August 26, 1996

REDWOOD CITY, Calif.--(BUSINESS WIRE)--Aug. 26, 1996--VeriFone, Inc. (NYSE:VFI), the leading global provider of secure payment solutions, today announced the formation of a new Professional Services Division designed to provide VeriFone customers with the services and support needed to create end-to-end electronic payment solutions.

The company also announced vice president Thomas G. Ream will head the division and that Alton E. Sturdivant will become Director of Professional Services, reporting to Ream.

"The Professional Services Division will provide financial institutions and other financial processors with essential consulting services as they examine the potential of their payment systems," said Hatim A. Tyabji, VeriFone chairman, president and chief executive officer. "This new division is designed to quickly answer a customer's need for a complete payment solution, providing a seamless connection between VeriFone's products and services."

"An evaluation of a financial institution's or another corporation's payment system might reveal opportunities to replace a current system by integrating multiple payment systems, adding a loyalty program designed to identify and reward your best customers, developing an internet payment solution, or adding smart card capabilities," added Thomas G. Ream, vice president of VeriFone Professional Services. "Our new Professional Services Division will supply the capability needed to create a complete turnkey solution from initial consulting, to implementation and training, to ongoing support."

Before assuming his new duties, Ream was vice president and general manager of VeriFone's International Division, responsible for sales, marketing, business development and customer support services. Sturdivant, who will be responsible for establishing and directing the consulting, design, project management, and systems development for VeriFone's worldwide customer base, was vice president of worldwide operations of the Professional Services/Support Group at S2 Systems, Inc. prior to joining VeriFone.

The Company

VeriFone Inc. (http://www.verifone.com), the leading global provider of secure payment solutions, delivers electronic payment services to financial institutions, merchants and consumers, as well as government agencies, healthcare providers and benefits recipients. The company's more than 30 facilities -- including regional offices, development centers and manufacturing and distribution centers -- are located throughout North and South America, Europe, Asia, Africa, Australia and the Pacific. VeriFone has shipped more than five million Transaction Automation systems, which have been installed in 100 countries. The company's 1995 net revenues totaled $387.0 million. -0-

Note to Editors: VeriFone is a registered trademark of VeriFone, Inc.

CONTACT: Verifone, Inc.

Bob McGee, 415/591-6500

bob_m6@verifone.com

or

Copithorne & Bellows

Cynthia Arnold, 415/284-5200

cynthia_arnold@cbpr.com