This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Identive's Cashless Payment System Expands Into New Markets

SANTA ANA, Calif. and ISMANING, Germany, Aug. 20, 2012 (GLOBE NEWSWIRE) -- Identive Group, Inc., a provider of products and services for the identification, security and RFID industries (Nasdaq:INVE) (Frankfurt:INV), announced today that use of its cashless payment system for concessions is expanding this summer to music festivals in Europe and the Rat Verlegh Stadium in Breda, The Netherlands. This latest milestone follows Identive's successful launch of tomPAY™ contactless payment technology at large hospitality events during the 2012 London Olympics:

Identive offers its concession-focused cashless payment system through its payment solution subsidiary, which provides RFID-based contactless cards and readers, software, equipment, installation management and transaction services that enable visitors to experience short wait times for purchases at concerts and sporting events across Europe.

Rat Verlegh Stadium in Breda is home to the Dutch first league soccer club, NAC Breda, and implemented Identive's cashless payment solution in order to speed payment transactions for visitors at the 19,000-capacity venue. This is the 14th stadium to use Identive's card-based cashless payment solution and the first in Holland. The cashless payment system is sized to include 60 cash registers and 16 handheld terminals and will run on payment solution's transaction management software. In order to make each transaction as swift and efficient as possible, drinks or snacks can only be purchased using Identive's contactless cash cards. Visitors can purchase or top up cards with cash value at various stations within the stadium. payment solution also is providing data hosting and clearing processes for transactions made at the stadium through its own data center in Hamburg, Germany. The new cashless payment system was introduced to soccer fans during NAC Breda's first home match of the season against FC Twente Enschede on August 18, 2012.

payment solution also provided cashless payment systems for visitors at three popular music festivals in Europe this summer, which allowed guests to purchase food, drinks and festival merchandise using colorful wristbands equipped with RFID chips. The wristbands also acted as return access passes, allowing visitors to enjoy the festivals for multiple days without having to wait in long entry lines. Festivals using the cashless payment system included Openair St. Gallen, held June 28 – July 1 in St. Gallen, Switzerland; Gurtenfestival, held July 12 – 15 in Bern, Switzerland; and Slottsfjell, held July 19 - 22 in Tønsberg, Norway.

"Rat Verlegh Stadium decided to replace its coin-based processes with our cashless system in order to improve the overall experience for soccer fans and concert visitors while at the same time increasing concession volume and revenue," said Sascha Busse of payment solution. "We are pleased to expand our innovative payment system to The Netherlands with our new stadium deployment in Breda, and to gain a foothold in the emerging festival market."

About Identive

Identive Group, Inc. (Nasdaq:INVE) (Frankfurt:INV) is focused on building the world's signature company in Secure ID. The company's products, software, systems and services address the markets for identity management, physical and logical access control, cashless payment, NFC solutions and a host of RFID-enabled applications for customers in the government, enterprise, consumer, education and healthcare sectors. Identive's mission is to build a lasting business of scale and technology based on a combination of strong technology-driven organic growth and disciplined acquisitive expansion. The company delivers up-to-date information on its activity as well as industry trends through its industry-leading social media initiatives and educational resource, AskIdentive.com. For additional information, please visit www.identive-group.com or follow on Twitter at @IdentiveGroup.

The Identive Group, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8072

About payment solution

payment solution, a subsidiary of Identive Group, Inc. (Nasdaq:INVE) (Frankfurt:INV), provides complete and truly integrated payment solutions for stadiums, arenas, theme parks and other venues for leisure and entertainment. Using multi-functional customer cards based on RFID contactless chip technology and comprehensive management software, the system ensures the seamless interaction of all relevant components such as ticketing, access, point-of-sale and parking. Through increased convenience for guests and visitors, faster transactions and enhanced marketing options, payment solution customers enjoy higher revenue and profit.

CONTACT: payment solution:
         Frederik Herr, + 49 (0) 40 24 42 41 3-14
         Frederik.Herr@paymentsolution.biz
         
         Identive:
         Darby Dye, +1 949 553-4251
         ddye@identive-group.com
         Lennart Streibel, +49 (0) 89 9595-5195
         lstreibel@identive-group.com

Identive Group, Inc. Logo

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,302.57 +36.58 0.21%
S&P 500 2,013.33 +1.97 0.10%
NASDAQ 4,589.8580 -3.5670 -0.08%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs