Verifone Holdings, Inc. (NYSE: PAY) today announced a multimillion-dollar order for a portfolio of its leading payment solutions by Sberbank, Russia's largest bank.
Verifone was the leading vendor selected by Sberbank, which ultimately intends to distribute approximately 130,000 payment solutions among merchants. The bank will utilize Verifone countertop and wireless payment solutions, as well as PIN pads. Sberbank will deploy the Vx 510 dial, Ethernet and GPRS countertop solution, the Vx 610 wireless system, the Vx 810 programmable PIN pad and the PP1000SE PINpad.
Verifone solutions were selected for a separate tender from Sberbank for more than 16,000 Vx 810 systems. Those systems were deployed over a three-month period to bank branches for customers to identify themselves to bank tellers using their credit/debit card and PINs.
"Verifone's strategic partnership with INPAS Company has proven to be a strong payment solution for major organizations, such as Sberbank, in Russia, the Commonwealth of Independent States and Hungary," said Adam Biedrzycki, general manager, Verifone Continental Europe. "We triumphed over major competitors to solidify our relationship with the largest, most dynamic bank of Russia and Eastern Europe."
INPAS Company has been a Verifone International Partner for the region since 1995. It has worked with Verifone to supply payment solutions for a number of nationwide projects.
"Sberbank is a priority customer and this tender represents a major win that highlights the great strides made by INPAS in the market and the reputation and trust that INPAS and Verifone have been able to achieve together as providers of innovative solutions," said Ilya Korobov, Commercial Director of INPAS.
Sberbank today is the largest credit institution in Russia and CIS, accounting for about a quarter of the aggregate Russian banking assets and a third of banking capital. Sberbank was ranked 38th in the world by The Banker magazine in terms of Tier 1 capital as of July 1, 2009.
About INPAS Company (www.inpas.ru)
INPAS (Innovative Payment Solutions) is the largest supplier of technological solutions for acquiring networks. INPAS, the leader in payment integration, is the official representative and partner-distributor of Verifone EFTPOS systems in Russia and the former CIS countries, and since 2007 in Hungary. INPAS actively promotes Verifone contactless technologies to bank and non-bank organizations, state services and for social projects. It also specializes in highly effective software development for the region.
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 related to Verifone Holdings, 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 Holdings, Inc. These risks and uncertainties include: the successful deployment of our payment solutions with Sberbank and its merchant customers, 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.