Dec. 11, 2012
/PRNewswire/ -- Mark James, Chief Executive Officer of Frias Transportation Infrastructure, LLC (FTI), a
based company, said today that it has recently closed a deal with VeriFone Systems, Inc., (NYSE: PAY) based in
San Jose, California
, for the purchase by VeriFone of intellectual property rights and software that FTI developed for the taxicab industry. FTI is an affiliate of Frias Transportation Management, the largest taxicab operator in
with almost 1,000 taxicabs. Frias Transportation Management also operates charter buses and the highest volume airport shuttle operation at
' McCarran airport, as well as Las Vegas Limousines, one of
's largest providers of luxury and business transportation.
James, who is also CEO of the Frias Transportation Group, said that FTI was created to develop software infrastructure for both fleet operators and regulators in the taxicab and for-hire-vehicle industry.
"As one of its first projects, FTI developed from scratch several patent pending technologies to provide passenger interactive advertising and point-of-sale systems for taxicabs, as well as unique methods of distributing advertising and coupon booklets as transportation ticket vouchers. The system, trade named Roll Deals, was deployed in over 250 Frias taxicabs in
, and was supplemented by FTI's Roll Magazine, which uses FTI's first-of-its-kind magazine-ticket voucher technology for distribution. For FTI, the sale of our innovations to VeriFone, the world market leader in payment and advertising solutions, represents a tremendous validation of our work in the field," James said.
"As a transportation software company affiliated with and run by one of the largest for-hire-vehicle operators in the country, FTI is uniquely positioned to provide software solutions to taxicab, limousine and other fleet operators, as well as regulators, and that is exactly what we are doing," James added.