Verifone Holdings, Inc. (NYSE: PAY), announced today it has won a $10 million contract with its selection as a premier payment solutions supplier to Moneris Solutions, Canada's largest processor of debit, credit and gift card payments.
Moneris selected EMV- and PCI-approved wireless, countertop and integrated payment solutions from Verifone’s Vx Solutions family to meet the needs of its merchant customers. Moneris processes more than 3 billion credit and debit card transactions a year, for merchants in virtually every industry segment at more than 350,000 small business and corporate locations across North America.
“Verifone’s Vx Solutions line provides us with options to meet the payment needs of our broad merchant base and their migration to EMV,” said Moneris Chief Operating Officer Jeff Guthrie. “Our partnership with Verifone demonstrates our continued commitment to strengthen our relationship with our merchants, and provide them with superior and innovative technology to meet and exceed their payment processing needs.”
“This contract represents a tremendous competitive win over an incumbent supplier and validates Verifone’s proactive efforts to meet the needs of the marketplace with fully secure, flexible payment solutions,” said Verifone Executive Vice President Jeff Dumbrell. “We look forward to working with Moneris to serve the payment needs of its merchant customers.”
To meet the latest countertop needs, Moneris chose Verifone’s Vx 810 and Vx 810 DUET systems, both of which can be pre-equipped or field-upgraded with a contactless module. The Vx 810 is deployed as a PIN entry device integrated with electronic cash registers and POS systems, while the Vx 810 DUET provides smaller merchants with a two-in-one device that incorporates a highly ergonomic handover device with a base unit including printer and modem for a fully-functional, top-of-the-line countertop payment solution.
Moneris also selected the GPRS version of the Vx 670, a sleek and secure handheld payment device designed specifically for wireless, customer-facing payments ranging from restaurant pay-at-the-table environments, to home and office delivery needs, as well as a replacement for dial-up or Ethernet connected systems.
Verifone devices and systems process a broad spectrum of payment types including signature and PIN-based debit cards, credit cards, EMV smart cards, contactless, value-added applications, and signature capture. Verifone solutions incorporate existing and emerging technologies, comply with the latest global security standards, and take advantage of the latest connectivity options from GPRS, CDMA, and Wi-Fi to Ethernet and Bluetooth. Verifone in late 2008 became the first payment systems supplier to adopt a comprehensive program to ensure compliance with the PCI Security Standards Council’s recently enacted Payment Application Data Security Standard (PA-DSS) aimed at ensuring protection of cardholder information.
As one of North America's largest providers of payment solutions, Moneris offers credit, debit, wireless and online payment services for merchants in virtually every industry segment and processes more than 3 billion transactions annually. Through its Ernex division, Moneris offers electronic loyalty and stored-value gift card programs. With more than 350,000 merchant locations, Moneris provides the hardware, software and systems needed to improve business efficiency and manage payments. For more information please visit www.moneris.com .
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 certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the forward-looking statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other risks and uncertainties affecting the operation of the business of Verifone Holdings, Inc. These risks and uncertainties include: our ability to successfully manufacture, distribute, market and sell the MX880 and related software applications, our customers' acceptance and adoption of our newly released products and applications, our ability to protect against fraud, the status of our relationship with and condition of third parties upon whom we rely in the conduct of our business, our dependence on a limited number of customers, uncertainties related to the conduct of our business internationally, our dependence on a limited number of key employees, short product cycles, rapidly changing technologies and maintaining competitive leadership position with respect to our payment solution offerings. For a further list and description of such risks and uncertainties, see our filings with the Securities and Exchange Commission, including our annual report on Form 10-K and our quarterly reports on Form 10-Q. Verifone is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.