Verifone Inc., the leading supplier of transaction authorization systems, said it has delivered its four millionth unit.
The milestone terminal is a Tranz 380 model at a ClubHouse Inn in Kansas City, Mo., placed by its merchant-acquiring institution, Commerce Bank of Kansas City.
The point of sale terminal was upgraded from a Tranz 330, reflecting the advance to sophisticated, multi-function devices that go beyond basic authorization and draft capture, according to Gregory Lewis, vice president of worldwide marketing at Verifone in Redwood City, Calif.
ClubHouse Inns uses an application developed by First Data Corp.'s merchant services group that allows users to take advantage of Virtual Private Line telephone capabilities at the cost of dial-up calls.
Verifone, meanwhile, continues to diversify its technology and applications into such areas as debit cards, smart cards, check authorization, electronic benefits transfer, health care, home banking and shopping, shopper loyalty programs, and employee time and attendance.
The company said that seven years after setting up its international division, Verifone systems are installed in more than 80 countries, and one third of its revenues are international, indicating the globalization of automated transactions.
Verifone, which recently reported a 19% revenue increase for 1994, to $309 million, shipped its first system in 1982. It placed its millionth in 1989 - a Tranz 330 in the Lapland region of Finland.
The two millionth was a Tranz 420 in 1991 at Fouquet's Europe restaurant outside Paris. The three millionth was a Tranz 380 for Cardway Processamento Ltda., a bank card service provider in Brazil.
As reported, Verifone boosted net income 29% last year, to $27.7 million, or $1.18 a share. Fourth-quarter income rose 38%, to $8.1 million, on 24% revenue growth, to $84.7 million.
