As per the company's corporate strategy it has drawn up plans for tie-up with banking and telecom companies to offer the new technologies, according to Verifone India country manager (India and Saarc), Atul Saran.

The company also has unveiled its vSUITE of products that enable secure Internet payments. The new products offer high level of security and provide definite authentication for all parties involved in an Internet transaction. vSUITE uses the Secure Electronic Transaction (SET) standard for Internet commerce, developed by Visa and MasterCard.

vSUITE comprises of three products -- vGATE, vPOS and vWALLET. While vGATE acts as a gateway between a bank's existing credit card authorisation systems and the Internet, the vPOS module works with merchant storefronts on the World Wide Web. vWALLET stores the digital equivalent of the customer's credit cards.

Verifone's outgoing CEO Hatim A Tyabji, addressing a press conference here on Tuesday said, "the company will implement an innovative business model in which it will rent out installations of its Internet commerce products.''

The company also has announced the availability of touch-screen based Internet access and payment kiosks. "The proposed kiosks will be set up in major cities like Mumbai, Hyderabad and New Delhi. These can be kept at public locations and will provide easy access to the Internet shoppers,'' said Tyabji.