TVS Elec, Verifone in e-payments tie-up

CHENNAI: Indian computer peripherals maker TVS Electronics Ltd. said on

Monday it had tied up with US-based Verifone Inc, a leader in electronic payment

solutions, to offer e-payment products to local financial companies.

"TVS eTechnology (a TVS Electronics-owned company) will jointly develop

and deploy Verifone's advanced electronic payment technology into financial

institutions and other emerging markets throughout India," the company said

in a statement.

The Santa Clara-based Verifone, a former Hewlett Packard subsidiary, was

acquired last year by Gores Technology Group. Chennai-based TVS Electronics

makes printers and uninterruptible power supply (UPS) systems for computers.