Verifone Holdings, Inc. (NYSE: PAY), today announced that BBVA Bancomer has begun a major deployment of the recently announced Verifone MX ATM payment kiosk. Bancomer, Mexico’s largest bank, is currently installing a customized version of the MX ATM at one of the largest drug store chains in Mexico.
BBVA Bancomer said it will expand the deployment in 2010 to represent 10 percent of its ATM network footprint, an investment of more than $10 million. A key feature of MX ATM is its ability to recycle cash deposits from individual consumers and retail receipts for cash withdrawals. For example, the pharmacy will be able to deposit its daily cash receipts into the ATM, gaining real-time credit and reducing the need for security services to pick up cash.
“These new ATMs address the specific needs of the Mexican market,” said Francisco Zago, director of innovation and development for BBVA Bancomer. “They allow the introduction of ATMs for lower-traffic locations and at the same time reduce the cost of cash management and cash transportation for the merchants.”
Jorge Monge, director of correspondent banking for BBVA Bancomer, said, “We are offering a new and innovative tool for businesses and expanding the reach of our correspondent banking capabilities.”
Verifone’s MX ATM is a secure, highly manageable payment and cash dispensing kiosk, intended for environments such as hotels, department stores, night clubs, and enterprises. Merchants can install Verifone MX ATM to dispense and/or deposit cash, and provide a variety of value-added services including telco top-up, bill payment, money transfer, couponing, redemption, and reloading of prepaid cards.
“Bancomer’s is using MX ATM to dramatically expand services to the unbanked and under-banked by locating payment kiosks in convenient retail outlets,” said Fernando Lopez, senior vice president and general manager for Verifone Latin America and the Caribbean. “MX ATM is purpose-built to ensure integrity of remote operations and can be customized to meet the specific needs of different organizations.”
About BBVA Bancomer (www.bancomer.com )
BBVA Bancomer is the institution leader in the financial system in Mexico, with a network of 1,838 bank branches, 5,929 ATM’s and 156,710 POS terminals to process debit and credit card payments. In addition, it operates the most successful online banking portal with 1.3 million frequent clients.
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.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for Verifone Holdings, Inc.:
This press release includes statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the development, adoption, implementation, interoperability, performance and effectiveness of electronic payments industry security standards, the development of future security standards and guidelines intended to reduce and prevent fraud and other threats to electronic payment transaction integrity, and lower risk for all participants in card payment transactions. These forward-looking statements are based on current expectations and beliefs and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In particular, factors that could cause actual results to differ materially from those in forward-looking statements include: the successful rollout of the Verifone MX ATM; industry, technological and regulatory changes; industry and market acceptance of and compliance with new security standards and guidelines; compliance with disparate certification requirements and government regulations; the state of the U.S. and global economies in general and other risks detailed in the companies' filings with the Securities and Exchange Commission, including the companies' most recent 10-K and subsequent 10-Qs and 8-Ks. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements.