VeriFone Sells Backseat Terminals to Vegas Taxi Company

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VeriFone Systems (PAY) announced Tuesday that it's entered a pact with Frias Transportation Management to provide the Las Vegas cab company with payment systems for nearly 1,000 taxis.

The San Jose terminal maker said the contract, which includes VeriFone's advertising services, is worth more than $90 million over the life of the deal. VeriFone did not disclose the length of the Frias contract.

Passengers using the Frias fleet will now be able to view information, entertainment and promotions on a 10-inch tablet and make electronic payments on VeriFone's NFC- and EMV-enabled VX820 payment solution.

"The agreement with Frias represents the future of payment-enabled media in transportation, providing the greatest convenience to passengers and providing promoters with the ability to target virtually every visitor either through streamed content inside the cab or digital and traditional media on and around taxis and buses," said Amos Tamam, VeriFone's senior vice president in charge of taxi systems, in a press release.

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