News release

VeriFone Shipments of Payment Systems Exceed 9 Million Worldwide

E-payment Leader Sets Course for the Future with Global Multi-application Platform

PALO ALTO, Calif., Oct. 9, 2000

VeriFone, a division of Hewlett-Packard Company, today announced that it has shipped more than 9 million payment systems worldwide, approximately three times its closest competitor. Building on this history of success, VeriFone is defining the future of e-payments with:

• Verix, a multi-application platform;
• EMV-certified terminals and peripherals; and
• Innovative technologies that deliver the power and speed of the Internet to the merchant countertop.

"Strong sales of VeriFone products over the years are solid proof that VeriFone solutions meet the existing needs of our many market segments, and prepare our customers for the future," said Pierre-Francois Catte, vice president and general manager of VeriFone. "VeriFone's unsurpassed quality hardware and software solutions, combined with financing, training, and support services, help lower the total cost of ownership for our customers."

"The widespread need for multi-application devices is driving demand for our Omni 3300 series of payment terminals," said Eric Lecesne, general manager of VeriFone Appliance Payment Operation. "In every region of the globe, VeriFone is achieving rapid certification of the Omni 3300 series of payment terminals, which features a secure, open architecture, application separation and smart card capability."

Demand is expected to increase as the emergence of Internet connectivity at the point of sale and wireless payment-enabled devices drive the need for open, multi-application terminals that allow payments to be made anytime, anywhere.

VeriFone credit, debit and smart card products provide secure, reliable e-payment solutions designed for the multi-lane retailer, petroleum/convenience stores, financial institutions, government agencies and payment services providers. VeriFone is continuing to develop solutions to meet the needs of new industries embracing e-payment.

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 86,000 employees worldwide and had total revenue from continuing operations of $42.4 billion in its 1999 fiscal year. Information about HP and its products can be found on the World Wide Web at http://www.hp.com.

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