Verifone Holdings, Inc. (NYSE: PAY) today announced that its PAYware Transact has been selected as the PCI-compliant payment engine for the Vermont Systems (VSI) RecTrac facilities management system that is deployed worldwide to U.S. Army and Navy recreational facilities.
VSI, of Essex Junction, VT, provides software for managing recreation and parks operations for municipal, county, state and federal military governmental entities. Its global deployment to Army and Navy facilities supports a wide range of activities, from court and locker reservations to childcare, with comprehensive reporting and financial management capabilities.
“PAYware Transact provides us with the PCI-compliant card acceptance and payment processing component,” said Giles Willey, president of VSI. “This relieves us of the need to develop specialized skills in the ever-changing payments area, isolates the payment function from our core application code, and provides our customers with assurance their applications will remain PCI-compliant moving forward.”
PAYware Transact is a highly-scalable and customizable Java-based payment solution that supports high-volume transaction processing for retailers and businesses of any size. The platform-independent system accommodates a mix of front-end environments — including POS devices, mail order/telephone order systems and e-commerce. Several thousand of Verifone’s MX 830 systems are being deployed to approximately 3,000 Army and Navy facilities as a customer-facing card acceptance system for use with RecTrac.
“VSI has a sterling record supporting military recreation facilities and we’re proud to be part of a system that is instrumental in supporting the morale of soldiers and sailors and their families,” said Robbie Lopez, Verifone senior vice president and general manager, Software Solutions.
Verifone payment processing software solutions enable businesses of all types and size to quickly and securely process electronic payments including credit, debit, loyalty/stored value gift, purchasing cards, checks, EBT and more. PAYware Transact can be easily integrated into a wide variety of POS systems, databases, and corporate financial environments, and it is certified by all major processors.
About Vermont Systems, Inc. (www.vermontsystems.com)
Vermont Systems, Inc. is a privately owned Vermont corporation with headquarters in Essex Junction, Vermont. Since 1988, VSI has specialized in developing software products for managing recreation and parks operations for municipal, county, state and federal military governmental entities. The software is also marketed to private businesses with similar needs, such as golf courses and fitness centers. VSI is 100 percent owned by its employees and management, and VSI's staff is committed to providing high quality application software products and responsive customer support.
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
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 deploy and rollout the PAYware Transact solution as contemplated, 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.