In the recent Green Sheet article, "A View from the Street," one of the ISOs interviewed, Mr. Bob Miller, spoke concerning the VeriFone Zon Jr. XL. "The date in the terminal's clock chip expires December 31, 1996." The correct date for this statement is December 31, 1999.
Both Bob and The Green Sheet have received many calls concerning this statement of built in obsolescence. The most alarming was a call from Money Transfer Systems suggesting that they had received cancellations from merchants which in turn had created a problem with their leasing company.
We have received various faxes and phone calls that note, "The problem is a hardware problem and while VeriFone acknowledges that a chip will be available for field replacement, it is not likely to be something that the merchant can do themselves. Given the likely charge for the chip, plus the charge by ISOs to do this work, it is more likely that new equipment will replace these devices."
The concern continues!
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