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VeriFone India on e-trade forefront

With all that hype about Indian software engineers, the team at VeriFone India Ltd, a wholly-owned subsidiary of VeriFone Inc, have a big image to live up to. Especially now, when they are in the vanguard of the company's efforts to integrate its products with new software.

The company is now putting together software to manage electronic commerce to help people sell and make purchases over the Internet.

VeriFone actually evolved as a transaction automation firm for financial institutions and traders, and its experience is expected to show through the

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new programme, called the Integrated Payment System.

The project plans to first integrate the company's products and also allow inputs from without.

HP, which took over VeriFone, will provide the core infrastructure, hardware and consultancy for the project.

There are three parts to the IPS project. The first to assist physical transactions; the second, to help secure deals over the Internet; and the third, a system of smart cards to aid transactions and help financial institutions to keep track of them.

VeriFone plans to set up a new facility housing about 250 people and another to house 200 more later.

-Compiled from the Indian media

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