Global | Change

Verifone Completes Acquisition of South Africa Payments Solutions Provider

CSC is Market Leader in Region; Provides Base to Grow Verifone's Africa Business  June 30, 2011 San Jose, CA

Verifone Systems, Inc. (NYSE: PAY), today announced it has completed the acquisition of Destiny Electronic Commerce (Pty) Ltd. (trading as CSC), a South Africa-based electronic payments solutions provider.

The new Verifone unit is headquartered in Johannesburg with offices in Cape Town and Durban. CSC’s management team, headed by former CEO Llewellyn Walters, and 160 employees have been integrated into the Verifone worldwide organization.

Verifone will build on this organization to expand the company’s presence as a leading provider of secure payment technologies, services and solutions at the point of sale for Sub-Saharan Africa and the Indian Ocean Islands.

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 integration of the acquisition of Destiny Electronic Commerce (Pty) Ltd., the successful closing and integration of the pending acquisition of Hypercom Corporation, our ability to continue to successfully penetrate the Africa continent, 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. (
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.

Verifone Media Relations
Pete Bartolik, +1-508-283-4112