Verifone puts personal cash smartcard on European trial

Smartcard solutions developer Verifone has launched technology that converts consumer PC's into personal cash machines. The system is currently on trial with Four European companies, according to Verifone's UK managing director, Malcolm Bushell.

The Verismart product comprises high-end server software plus personal hardware appliances which are distributed to the bank's customers. The consumer can then use the product to download value onto their smartcard via direct links to centrally-held software at the bank.

"This is the beginning of a new market place based around smartcards and telecoms - where banks, telcos or retailers can set up a direct link to transfer either cash or information for their customers", said Bushell.

Bushell could not reveal the identity of the European companies involved in the trials, but said they are from the banking, telecoms, utilities and retail markets. He added that the technology will be an ideal solution for call centres.