Canada Post To Buy VeriFone Terminals

Published August 05, 2008, 1:00 a.m. EDT

Updated August 05, 2008, 12:00 a.m. EDT

1 Min Read

The mail carrier Canada Post Corp. has agreed to purchase more than 7,000 payment terminals from VeriFone Holdings Inc.

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The San Jose terminal company announced Monday that the carrier plans to install about 2,200 of its MX870 terminals this year and the rest in 2009 to handle customers' credit and debit card payments.

VeriFone is working with Innovapost Inc. of Ontario and the TD Merchant Services unit of Toronto-Dominion Bank's TD Banknorth Inc. to install the systems.

Canada Post plans eventually to configure the MX870 systems to support payments with cards using the Europay, MasterCard, Visa security standard; several banking companies are testing such cards in suburban Toronto.

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