Verifone Holdings, Inc. (NYSE: PAY) announced today an agreement with discount retail chain, Family Dollar Stores, Inc. (NYSE:FDO) for Verifone’s new card security solution, VeriShield Protect, along with an order for Verifone MX830 customer-facing payment systems.
Family Dollar plans to deploy the new payment systems as it rolls out its “Store of the Future” technology program. The retail chain is the first national brand to contract for the new VeriShield Protect card data security program, which was developed to prevent compromise of cardholder data even in the event of a breach.
Family Dollar is one of the fastest growing discount store chains in the United States and over the past 10 years more than 4,000 new stores have been added to the chain, which focuses on providing customers with good values on basic merchandise for the family and home in a small-box, neighborhood format.
“Credit acceptance expands payment options for our customers and Verifone’s MX830 fits well with our focus on value and convenience,” said Josh Jewett, CIO of Family Dollar. “Just as importantly, VeriShield Protect ensures that our stores do not store or transmit any consumer card account data that could be compromised.”
VeriShield Protect shields credit and debit account information from the moment a card is swiped until the data is received at a decryption appliance located in a secure location for payment authorization.
“Family Dollar is taking a historic step in payment card history,” said Bud Waller, Verifone executive vice president, Integrated Systems. “Protecting the ‘Store of the Future’ with VeriShield Protect’s end-to-end encryption solution is the start of a new era in proactive protection of consumer cardholder information.”
Direct Source, Inc. of Chanhassen, MN, a retail systems deployment specialist and Verifone business partner, will work with Verifone and Family Dollar on the installation of the MX830 systems. The MX830 will be integrated with SAP’s Triversity Transactionware General Merchandise POS system and will feature electronic signature acceptance, credit, debit and electronic benefits transfer payments, as well as phone card activation at the point of sale.
Additional Resources: www.verifone.com/verishield-protect
About Family Dollar
Operating small store locations, Family Dollar is one of the fastest growing discount retail chains in the United States. Family Dollar offers a core assortment of name-brand and quality consumable merchandise supplemented by fashion and seasonal merchandise at everyday low prices.
Beginning with one store in 1959 in Charlotte, North Carolina, the Company currently operates more than 6,500 stores in 44 states. Family Dollar Stores, Inc., a Fortune 500 company, is based in Matthews, North Carolina, just outside of Charlotte and is a publicly held company with common stock traded on the New York Stock Exchange under the symbol FDO. For more information, please visit www.familydollar.com .
About Direct Source:
Headquartered in Minneapolis, Direct Source (www.directsource.com ) is a nationally recognized retail integration and installation services provider for tier one retailers, with an expanding network of more than 1,500 regional installation specialists. Direct Source’s flexible in-store solutions are designed to help retailers maintain a competitive edge, improve store productivity and customer service. Direct Source draws upon its flexible, innovative, industry-encompassing experience to design solutions that help clients operate faster, smarter and more profitably
About Verifone Holdings, Inc. (www.verifone.com)
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.