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Press Release Source: Applied Digital Solutions, Inc.
Applications Continue to Grow for Applied Digital Solutions' VeriPay
Monday April 5, 9:20 am ET
Baja Beach Club in Barcelona, Spain Employs RFID Technology for Cashless Payment System
PALM BEACH, Fla--(BUSINESS WIRE)--April 5, 2004--Applied Digital Solutions, Inc. (Nasdaq: ADSXD - News), an advanced technology development company, today announced that Baja Beach Clubs International had employed the VeriPay System, developed by Applied Digital's VeriChip Corporation, at a night club in Spain.
Launched at a global security conference in November, 2003, the VeriPay System is a new syringe-injectable microchip implant for humans, designed to be used as a fraud-proof payment method for cash and credit-card transactions. The chip implant is an advance over credit cards and smart cards, which, absent biometrics and appropriate safeguard technologies, are subject to theft, resulting in identity fraud.
"We are the only company today offering human implantable ID technology," said Scott R. Silverman, Chairman and Chief Executive Officer of Applied Digital Solutions. "We believe the market opportunity for this technology is substantial, and high-profile successes such as in Spain will serve as catalysts for broader adoption."
"The VeriPay chipping event was a huge success," said Conrad K. Chase, Director of the Baja Beach Clubs International. "Everyone embraced the electronic payment application. My customers like the fact that they do not have to carry a credit card or ID card with them. With the VeriPay system, they no longer have to worry about their credit cards getting lost or stolen."
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