Shawshank, VA 7/11/12 (StreetBeat) -- VeriFone Systems, Inc. (NYSE:PAY), announced that it has been awarded a five-year contract by the District of Columbia Taxicab Commission (DCTC) valued from $35 million to as much as $45 million factoring in potential advertising revenue. VeriFone won a competitive bidding process to become the exclusive vendor for installation and support of the DCTC’s Taxicab Smart Meter System project.
VeriFone will develop, install and support payment systems integrated with driver and passenger information tablet displays for all of the District’s 6,500 taxis and providing electronic trip reporting, credit card payment processing, display of news and other programming, as well as safety alert activation features for both passengers and drivers. The contract also includes a Back Office Management Information System that will provide the DCTC with automated trip reporting and GPS location services.
“This presents a rare opportunity to significantly enhance the driving experience of District citizens and visitors while improving operations for drivers,” said Mayor Vincent C. Gray. “The Taxicab Smart Meter System provides the riding public with new payment options and the opportunity to view digital content during trips. In addition, it improves manageability and accountability of the entire taxi fleet.”
The 10-inch tablet passenger information modules (PIMs) will stream content from VeriFone Digital Network (VNET), including news, weather, local and national content provided by NBC4 and NBC Universal. The PIM includes videos, interactive banners, clickable “tabs” and crawlers, interactive maps and micro sites for advertisers and partners.
“The District’s state of the art system represents the expertise VeriFone has developed in providing integrated secure payment and digital content solutions, which we call PAYMEDIA, for taxis and other market segments,” said Amos Tamam, VeriFone senior vice president, Taxi Systems. “We’re extremely proud to add Washington, D.C., to the growing list of major cities utilizing our solutions and services.”
The addition of 6,500 cabs in Washington, D.C., will increase VeriFone’s taxi media footprint by 23% to over 35,000 in the USA alone, delivering over 10 billion advertising impressions annually. VNET’s TaxiTV now spans more than 11 major media markets across the Atlantic. Earlier this year it added Sky News to its London taxi content and last year reached an agreement with NBC owned television stations to deliver NBC Universal’s award-winning content to markets throughout the US, including New York City, Boston, Chicago, Las Vegas, Philadelphia and San Francisco. VeriFone taxi solutions are established in more than 50 cities worldwide.
Please contact www.thestreetbeat.com for interest in our latest investor relations platform the “CEO Interview Series” with its host Steve Kanaval. The package includes a one-on-one interview with a seasoned industry professional; published segment to our web site with embedded audio/video file; and a compressed file that can be easily e-mailed out to your current and/or potential investors. Please e-mail firstname.lastname@example.org or call (662) 392-0740 for pricing and scheduling.