VeriFone Holdings says it has been selected as the sole provider of electronic payment systems by the China Postal Savings Bank. VeriFone will supply the Vx 510, with dual dial and IP connectivity, and the wireless NURIT 8000 with GPRS connectivity.

VeriFone’s Vx 510 countertop system provides exceptional performance for payment and value-added applications, including data-intensive, EMV smart card transactions.

The NURIT 8000 is a lightweight, handheld system enabling fast, secure, error-free transactions and featuring a large touch screen and a wide range of options that enhance its value-added functionality. Its sophisticated multi-application platform supports a range of payment and value-added services – including credit, debit, EBT, smart cards, prepaid, loyalty, gift and proprietary cards.

China Postal Savings Bank was chartered as a lending institution in 2006 and opened for business earlier this year. It succeeded the depository-only postal savings service, which since its inception in 1986 had accumulated savings deposits of 1.516 trillion yuan (US$190.8 billion), making it China’s fifth largest bank. The bank operates 36,000 branch offices throughout the country.(VeriFone Holdings)

• VeriFone Wins Orders from Two Major Banks
• VeriFone Invests in Chinese Mobile Payments Company
• China Postal Savings Bank to be established by year end
• Postal Savings Bank Gets Approval
• Lipman Receives $2.5 Million Follow-On Order from ICBC
• CUP Data Signs Credit Processing Agreement with China Postal Savings Bank
• Lipman Receives $7 Million Order from ICBC
• Lipman Receives Order From China UnionPay Merchant Service