VeriFone plans personal ATM smart card reader

VeriFone plans to unveil an inexpensive smart-card reader and writer for consumers to access electronic 'cash' at home or at work.

VeriFone plans to unveil an inexpensive smart-card reader and writer for consumers to access electronic "cash" at home or at work, company officials say.

The Personal ATM, announced at the ABA Bank Card Conference in Orlando this week, will be able to connect with a standard telephone line to let users add electronic funds to smart cards, officials say. The palm-sized smart card reader and writer will also have an interface with VeriFone's vWallet and other stored value cards, so users can do online transactions and make purchase over the Internet, officials say.

VeriFone has also announced the VeriSmart System architecture, which will integrate a personal ATM with bill paying, retail and healthcare applications and services, officails say. CIDCO, Gemplus, Key Tronic, Modex International, Scientific Atlanta, WebTV Networks, American Express, GTE, Hewlett-Packard, MasterCard, NIPSCO Industries, Sparbanken Bank, Sears Payment Systems and Wells Fargo plan to support VeriSmart, officials say.

VeriFon is on the World Wide Web at http://www.verifone.com.

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