Verifone Holdings, Inc. (NYSE: PAY) today announced today the formation of its Global Security Solutions Business Unit, focused on delivering innovative security solutions, including VeriShield Protect end-to-end encryption, to protect cardholder data throughout merchant and processor systems.
The business will focus on sales, consulting and implementation of VeriShield Protect and VeriShield Retain, as well as future initiatives aimed at helping retailers and processor protect consumer data and reducing the complexities and costs of PCI compliance. Jeff Wakefield, formerly vice president of marketing for Verifone’s Integrated Systems business, was named general manager and vice president of the new business unit.
“To effectively protect cardholder data against current and future threats, complete security solutions must span both merchant and processor systems,” said Verifone CEO Doug Bergeron. “The global focus of this business unit will insure that all our customers are able to take advantage of these solutions throughout their entire operations.”
Wakefield has 30 years of experience in senior marketing and general manager roles for retail system and payment solutions companies. He currently serves as a Verifone representative on the PCI Security Standards Council Board of Advisors and has chaired the SPVA’s Security Threat Analysis and Intelligence Working Group.
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 deliver innovative security solutions for protection of cardholder data, 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.