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VeriFone Equips Bronx MTA with TransitPAY Bus Location Tracking System for Rider Information Feeds



  VeriFone Equips Bronx MTA with TransitPAY Bus Location Tracking System for
  Rider Information Feeds

Wins $8.5 Million Bid to Install and Service Open Architecture Bus Location
Solution for MTA Bus Time; Follows 2011 Staten Island Award

Business Wire

SAN JOSE, Calif. -- November 27, 2012

VeriFone Systems, Inc. (NYSE: PAY), announced today it has been awarded an
$8.5 million contract by the Metropolitan Transportation Authority of New York
to install and service its open-architecture vehicle tracking TransitPAY
system on more than 1,000 buses serving the Bronx. The contract was signed in
September and installations were completed in October.

The Bronx contract award follows a similar contract in 2011 for the Staten
Island fleet component of the MTA Bus Time system. MTA Bus Time uses VeriFone
on-board systems to generate location data that is communicated wirelessly to
the Bus Time server that passengers can access for real-time information.
Passengers can use computers, cell phones, smartphones or other devices from
home, the office, while out shopping or dining, to get information about when
the next bus will arrive at a stop.

In the aftermath of Hurricane Sandy, MTA Bus Time was up and running for New
York City passengers with mobile or Internet access even as other modes of
travel had yet to be fully restored. MTA Bus Time is now available for all
buses in Staten Island, the Bronx, the B61 and B63 in Brooklyn and the M34 and
M100 in Manhattan.

“Our continued success in providing transit solutions to the MTA is a further
validation of VeriFone’s strategy to extend our technology to new market
opportunities,” said Jennifer Miles, VeriFone executive vice president, North
America. “We have integrated control units, wireless modems and GPS tracking
for improved fleet management with integrated solutions that are ready for
automated payments capabilities such as NFC and EMV.”

The TransitPAY solution from VeriFone enables bus tracking via real-time
information, with the added benefit of supporting future fare payment
applications across a common "open standards" hardware platform. TransitPAY
provides real-time bus location details communicated wirelessly to an
MTA-hosted server. Bus route details are shared with riders via SMS text
message and website updates to alert riders of next bus arrival time.

VeriFone's TransitPAY is a rugged, reliable and secure solution that can
transform the passenger experience and can integrate NFC smartphone-based
payments and contactless smart cards. VeriFone has deployed transportation
systems around the world, from Istanbul to New York City taxis, and supports
both EMV and non-EMV bank-issued cards as well as closed-loop cards, such as
MiFare cards.

Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995 for VeriFone Systems, Inc. This press release includes certain
forward-looking statements related to VeriFone Systems, Inc. within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements are based on VeriFone management’s current expectations or beliefs
and are subject to uncertainty and changes in circumstances. Actual results
may vary materially from those expressed or implied by the forward-looking
statements herein due to changes in economic, business, competitive,
technological and/or regulatory factors, and other risks and uncertainties
affecting the operation of the business of VeriFone Systems, Inc. These risks
and uncertainties include: our ability to successfully roll out our TransitPAY
solution with the New York MTA, customer acceptance and adoption of our new
solution offerings, our ability to protect against fraud, the status of our
relationship with and condition of third parties upon whom we rely in the
conduct of our business, our dependence on a limited number of customers,
uncertainties related to the conduct of our business internationally, our
dependence on a limited number of key employees, short product cycles, rapidly
changing technologies and maintaining competitive leadership position with
respect to our payment solution offerings. For a further list and description
of such risks and uncertainties, see our filings with the Securities and
Exchange Commission, including our annual report on Form 10-K and our
quarterly reports on Form 10-Q. VeriFone is under no obligation to, and
expressly disclaims any obligation to, update or alter its forward-looking
statements, whether as a result of new information, future events, changes in
assumptions or otherwise.

About VeriFone Systems, Inc. (www.verifone.com)

VeriFone Systems, Inc. (“VeriFone”) (NYSE: PAY) is the global leader in secure
electronic payment solutions. VeriFone provides expertise, solutions and
services that add value to the point of sale with merchant-operated,
consumer-facing and self-service payment systems for the financial, retail,
hospitality, petroleum, government and healthcare vertical markets. VeriFone
solutions are designed to meet the needs of merchants, processors and
acquirers in developed and emerging economies worldwide.

Contact:

VeriFone Systems, Inc.
Media Relations:
Pete Bartolik, +1-508-283-4112
pete_bartolik@verifone.com
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