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Press Release
VeriFone and Palm Demonstrate eWallet Technology at CES
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Joint Effort Paves Way for Secure Transactions and Enhanced Customer
Experience Using Palm Handhelds at Checkout
LAS VEGAS, Jan. 6, /PRNewswire/ -- Here at the 2001 Consumer Electronics
Show (CES), VeriFone, a division of Hewlett-Packard Company (NYSE: HWP) and
worldwide leader in electronic payment solutions, and
Palm, Inc. (Nasdaq: PALM) a leading supplier of handheld computers, are
demonstrating technology that paves the way for enabling secure payments
between Palm(TM) handheld computers and VeriFone point of sale (POS) payment
terminals. The demonstration supports Palm's eWallet initiative, which was
announced here today by Palm CEO Carl Yankowski during his keynote address.
The demonstration, which is taking place in Palm's booth (No. 24000),
builds on Palm and VeriFone's announcement last November that they are working
together to permit the secure transfer of financial and payment information
from a Palm handheld to a VeriFone POS payment terminal using infrared
technology, and then onto existing financial institutions' payment networks.
The companies expect the solution will replace the standard payment-card swipe
with a convenient, secure, electronically authorized transaction. In
addition, Palm and VeriFone intend to enable Palm handhelds to access
third-party content through a VeriFone payment terminal, offering physical and
online merchants a new way to enhance the customer's experience with access to
new, useful content through their Internet-enabled VeriFone POS terminal.
Customers also will benefit from the eWallet technology. "Imagine: No
more wallets bulging with paper receipts that need to be entered into an
expense program later," said Doug Solomon, chief strategy officer of Palm,
Inc. "Your receipt will be beamed directly into your handheld while the
merchant puts your purchases into bags, saving time and simplifying expense
tracking."
"VeriFone is pleased that Palm is using the CES forum to share the
exciting news about eWallet technology and the immense opportunities it
presents for merchants to offer secure point-and-pay capability along with a
variety of payment options and non-payment value-added e-services," said
Pierre-Francois Catte, vice president and general manager at VeriFone.
"E-payment is evolving to allow payment from any personal device, like the
popular Palm handhelds, and VeriFone is at the forefront of this effort."
About Palm, Inc.
Palm, Inc. is a pioneer in the field of mobile and wireless Internet
solutions and a leading provider of handheld computers (source: IDC, December
1999). Based on the Palm OS(R) platform, Palm's handheld solutions allow
people to carry and access their most critical information with them wherever
they go. Palm handhelds address the needs of individuals, enterprises and
educational institutions through thousands of application solutions. The Palm
OS platform is also the foundation for products from Palm's licensees and
strategic partners, such as CreSenda Wireless; ePocrates, Inc.; Franklin
Covey; Handspring; IBM; Sony; Symbol Technologies; and TRG. Platform
licensees also include Kyocera, Samsung, and Nokia. The Palm Economy is a
growing global community of industry-leading licensees, world-class OEM
customers, and more than 130,000 innovative developers and solution providers
that have registered to develop solutions based on the Palm OS platform. Palm
went public on March 2, 2000. Its stock is traded on the Nasdaq national
market under the symbol PALM. More information is available at
http://www.palm.com.
About VeriFone
VeriFone (http://www.verifone.hp.com), a division of Hewlett-Packard
Company, is the leading global provider of secure electronic payment solutions
for financial institutions, merchants and consumers. The division has shipped
more than nine million electronic-payment systems, which are used in more than
100 countries.
About HP
Hewlett-Packard Company -- a leading global provider of computing and
imaging solutions and services -- is focused on making technology and its
benefits accessible to individuals and businesses through simple appliances,
useful e-services and an Internet infrastructure that's always on.
HP has 88,500 employees worldwide and had total revenue from continuing
operations of $48.8 billion in its 2000 fiscal year. Information about HP and
its products can be found on the World Wide Web at http://www.hp.com.
Palm OS is a registered trademark and Palm is a trademark of Palm, Inc. or
its subsidiaries.
SOURCE Palm, Inc.
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