Verifone Systems, Inc. (NYSE: PAY), today announced a major, multi-million dollar order from Akbank for 41,000 Verifone payment devices for deployment throughout Turkey.
One of Turkey’s leading banks, Akbank provides card payment processing services to more than a quarter of a million merchants. The bank will utilize 26,000 VX 520 countertop systems; 10,000 of the newly introduced VX 680 wireless, full-function portable handheld payment device; and 5,000 of the PIN-based and contactless payment-enabled PINpad 1000SE customer-activated systems.
“We search for the most innovative and reliable products to support our Axess network, one of the widest loyalty programs of Turkey. Parallel to this strategy, Verifone has been a close partner of Akbank with its distinct services. Similar to MX 870 in 2007, Akbank is going to be the first user of new VX 680 and VX 520 systems in Turkey,” said Osman Tanaçan, Akbank Senior Vice President of Merchant Division.
The VX 520 and VX 680, both introduced earlier this year as part of the new VX Evolution product family, are powerful new payments solutions that support varied merchant environments, reflect changing market needs and are designed for extended life. The highly-ergonomic PINpad 1000SE offers a fast and simple way to accept the latest in both PIN-based and contactless payment and supports a wide range of payment and non-payment contactless applications that are certified for global use.
“We’re delighted that Akbank turned to Verifone solutions to update and expand its merchant card acceptance capabilities,” said Soner Çaşur, Vice President & General Manager, Verifone South East Europe. “This order reflects the broad capabilities of the Verifone product family.”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for Verifone Systems, Inc.
This press release includes certain forward-looking statements related to Verifone Systems, Inc. within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on Verifone 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 Systems, Inc. These risks and uncertainties include: the successful deployment with Akbank of the Verifone payment solutions, customers’ acceptance and adoption of Verifone’s new product and service offerings, 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.
Founded in 1948, Akbank is the most valuable bank and company in Turkey in terms of market capitalization, with an asset size of USD 71.8 billion. The Bank partners with its clients to provide best-in-class financial products and services to create outstanding value for all its stakeholders through a strong and extensive distribution network of over 900 branches and close to 15,000 employees. Akbank’s strong capital base, effective risk management practices, stable deposit structure, excellent profitability and asset quality have positioned the Bank among the most valuable financial services institutions across Europe. Akbank is firmly committed to investing in society as part of its corporate social responsibility to create sustainable, long-term value for all its stakeholders. Akbank strongly upholds this commitment in its day-to-day activities, business processes and the various projects it supports in arts, environment, education and innovation.
 Market capitalization as of 14.10.2010; Asset size as of 30.06.2010 on consolidated basis
About Verifone Systems, Inc. (www.verifone.com)
Verifone Systems, 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.