In previous issues we have discussed POS manufacturers and foreign markets. Well, don't count VeriFone out. As part of VeriFone's Internet payments and smart card plans, they too are accessing international companies. VeriFone is working with NEC to tailor its Internet payment software for the Japanese market and Northern Telcom of Canada to create screen phones with built-in smart-card readers.
With the NEC alliance, VeriFone hopes to open Japan's bank, merchant, and consumer market to VeriFone software which handles charge card transactions securely over the Internet. "Because of market access issues in Japan, we felt it was important to be a part of what is unfolding [on SET]," said George Hoyem, vice president of VeriFone's Internet commerce division. "We have a major initiative under way in joint distribution and development partnerships with NEC."
The VeriFone/Nortel alliance is another effort by the company to embed its smart-card technology into consumer devices. The companies plan to include smart-card functions in future Nortel phone network switches, pay phones, and Internet phones.
