Global | Change

Verifone CEO Visits Middle East Customers

Granted Certification for V<span class="Superscript">x</span> 670 by Saudi Arabian Monetary Authority March 26, 2007 Riyadh, Saudi Arabia

Verifone Holdings, Inc. (NYSE: PAY) announced today that CEO Douglas G. Bergeron has completed a four day tour of the Middle East, where he met with key customers and partners in Saudi Arabia and Jordan to discuss regional needs and the company’s strategy to address growing local markets. 

During his visit to Saudi Arabia, Bergeron met with senior officials of the Saudi Arabian Monetary Agency, the US Embassy, and with senior management at numerous banks. In Jordan, he met with senior management of companies involved in the telecom sector.

“Verifone’s strong market penetration in the Middle East is a testament to our long-standing commitment to this region,” Bergeron said. “Verifone’s network of electronics manufacturing services providers, primarily in Asia, provides us with scale and flexibility in addressing unique market needs in the Middle East, where there is growing demand for payment and value-added services such as electronic cellular top-up.”

Bergeron disclosed during the Saudi visit that Verifone’s revolutionary portable payment system, the Vx 670, attained SAMA certification on March 24. Restaurants, hotels and retailers across the Middle East have successfully begun offering pay-at-table transactions using the compact and sleek GPRS- and WiFi-enabled Vx 670.

Heightened awareness around compliance with PCI PED requirements was another hot topic. “Verifone’s multi-million dollar R&D investments in supporting global standards such as PCI PED, means that banks in the Middle East can future-proof their current investment in POS system purchases,” Bergeron said. “We will continue to work closely with banks in the Gulf to ensure we are protecting their long-term interests.”

In both Saudi Arabia and Jordan, Bergeron also met with senior management at key Verifone International Partner (VIP) companies. “Our VIP network is the cornerstone to Verifone’s strategy and success,” Bergeron said. “It is our relationships with first-class local partners that enable us to develop the best possible solutions for customers in this region and drive continued growth.”

Bergeron met with International Turnkey Systems (ITS), the VIP for Saudi Arabia, and Eastnets, the VIP for Jordan. ITS, which is headquartered in Kuwait, has offices across the Middle Eastern and Gulf States, and represents Verifone in Saudi Arabia, Kuwait and Lebanon; ITS is a subsidiary of Kuwait Finance House (KFH), provider of a wide range of Islamic Shari'a compliant products and services and also a Verifone customer. Eastnets is one of the region’s leading payments and security solutions providers for the government and financial services industry. Other VIPs in the region include Marshal Equipment & Trading Company and Systems Engineering of Egypt (SEE).

The visit reflects Verifone’s strong focus on the needs of Middle East customers and its commitment to supporting Verifone’s partner network in this key market during the next phase of growth.

About Verifone Holdings, Inc. Verifone Holdings, Inc. (“Verifone”) (NYSE: PAY) is the global leader in secure electronic payment solutions. Verifone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. Verifone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.

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