Verifone Systems, Inc. (NYSE: PAY), and MICROS Systems, Inc. (NASDAQ: MCRS), today announced a solution that integrates restaurant management systems with smart mobile devices, allowing consumers to pay at the table with electronic wallets on mobile phones utilizing Near Field Communications (NFC). The solution, which accommodates traditional payment cards and other mobile applications such as line-busting, is being demonstrated here this week at the NRA 2011 show (MICROS booth #4200).
As the premier providers in, respectively, the secure payments and hospitality solutions markets, Verifone and MICROS are partnering to deliver the first practical NFC service that will allow restaurants to accommodate an emerging wave of NFC-enabled applications, including payments and redemption of electronic coupons and promotions.
Central to the integrated solution is the Verifone PAYware Mobile Enterprise mobile POS system, which adapts smartphones and wireless PDAs to securely accept payment transactions and utilizes Verifone services to interface with MICROS table management and order management solutions as well as the card payment networks.
"This integration with Verifone will enable MICROS to provide multiple mobile products on one single platform, rather than requiring separate devices for separate functions," said MICROS Chief Technology Officer Michael L. Russo. "In addition, MICROS and Verifone are creating a must-have bridge to bring fast-emerging NFC payments to the table."
NFC is a standards-based two-way communications technology that makes it easier for electronic devices, such as smartphones, to exchange digital content, and connect electronic devices with a touch. It is interoperable with existing contactless card technologies.
In the payments world, NFC enables an electronic transaction infrastructure for contactless payment, loyalty and value-added applications to be utilized by consumers via a mobile wallet that contains electronic versions of credit and debit cards, loyalty accounts, and gift cards.
"Widespread adoption of NFC requires a restaurant solution, but consumers are not willing to hand over their mobile phones to the wait staff," said Paul Rasori, Verifone senior vice president of marketing. "MICROS and Verifone are combining forces to deliver a low-cost, services-based solution that allows restaurants to provide NFC payment convenience to consumers without having to make a large, up-front investment."
PAYware Mobile Enterprise incorporates a PCI-approved PIN debit keypad, which allows merchants to leverage dramatically lower transaction costs, as well as a 2D bar code scanner for tasks such as inventory control. With PAYware Mobile Enterprise, items can be scanned, payment cards accepted and receipts emailed to customers or transmitted to a nearby wireless printer with ease.
The integrated solution is expected to be available from select resellers in the second half of the year.
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 rollout of our NFC payment services at the table, 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 MICROS Systems, Inc.
MICROS Systems, Inc. provides enterprise applications for the hospitality and retail industries worldwide. Over 330,000 MICROS systems are currently installed in table and quick service restaurants, hotels, motels, casinos, leisure and entertainment, and retail operations in more than 130 countries, and on all seven continents. In addition, MICROS provides property management systems, central reservation and customer information solutions under the brand MICROS-Fidelio for more than 26,000 hotels worldwide, as well as point-of-sale, loss prevention, and cross-channel functionality through its MICROS-Retail division for more than 100,000 retail stores worldwide. MICROS stock is traded through NASDAQ under the symbol MCRS.
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.