Verifone Systems, Inc. (NYSE: PAY), announced today a partnership with Bling Nation, Inc., joining efforts to support an introductory mobile payments program in Palo Alto, CA, utilizing Verifone payment solutions. The new program enables businesses and customers to connect easily and securely, giving consumers the ability to simply tap-and-pay for purchases using a BlingTagTM at the physical point-of-sale systems with contactless technology.
This revolutionary new solution by Verifone and Bling Nation allows customers to purchase goods via alternative payment methods – including PayPal and direct debit of bank accounts – while automatically receiving real-time account balance updates and instant rewards through an intelligent loyalty program.
Bling Nation is distributing the contactless/NFC-enabled Verifone VX 810 DUET for countertops and wireless VX 680 to participating merchants as fully-functional “Blingers” that accept payments from consumers using BlingTags to tap-and-pay. A BlingTag is Bling Nation’s quarter-sized microchip sticker that enables mobile payment transactions.
“This introductory program brings together the best from each market to create a compelling alternative way to pay,” said Paul Rasori, Verifone senior vice president, marketing. “Bling Nation is combining the payment power of PayPal and point-of-sale footprint of Verifone to deliver consumer benefits at the convergence of mobile payments.”
After the conclusion of the introductory program, Verifone will be enhancing its PAYware Connect transaction gateway service to allow PAYware merchants to seamlessly consolidate traditional and alternative payment methods on a single card acceptance device. The Verifone, Bling and PayPal X platform solution will be available to over 350 existing PAYware Connect resellers.
“Verifone’s leadership and experience in the electronic payment industry is a tremendous asset in advancing Bling Nation’s vision of making mobile payment as easy as tap and pay,” said Meyer Malka, founder and co-CEO of Bling Nation. “Both companies are committed to providing merchants and consumers with an alternative payment system that is safer and more rewarding than traditional payment methods.”
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 trial of the Verifone Mobile Tap-and-Pay Initiative, customers’ acceptance and adoption of Verifone's new security solutions and other 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.
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.