Verifone Systems, Inc. (NYSE: PAY), today announced a contract to supply the first unattended pay-at-the-pump and digital media solution in Turkey. Petline Petroleum, Inc., a leading petroleum distributor, will begin implementing Verifone's MX760 unattended payment solution at its SELFSTOP self-service dispensers beginning in May.
Turkey is one of Europe's leading credit card markets, but until now consumers have not been able to utilize pay-at-the-pump technologies. Verifone is first to deliver automated payment solutions for Turkey's retail petroleum market, which has an estimated 75,000 fuel dispensers. Petline can utilize the payment system screens to display commercials and promotional videos as customers are fueling their vehicles.
"As the global leader in payment solutions and specifically in secure petroleum payment systems, Verifone was a natural choice to provide the payment component for our self-service project," said Petline General Manager Adnan Ünal.
"Petline's decision to deploy automated payment systems at self-service fuel dispensers represents Verifone's continued efforts to bring new card payment capabilities to unexploited market segments," said Soner Çaşur, Verifone vice president and general manager, South East Europe.
Verifone delivers a variety of payment solutions designed to meet the needs of petroleum retailers worldwide and make it easy for marketers to accept credit, debit, check, EBT and smart card payments. The Verifone MX760 is designed for both outdoor and indoor unattended environments like petro, ticketing, kiosks, QSRs and ATMs. The system operates in demanding outdoor environments with a rugged PIN pad that is PCI and EMV Level 1 and Level 2 approved and uses a manual-insert card reader with no motors or drive belts to wear out or fail.
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 Pay-at-Pump systems in Turkey, 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 Petline Petroleum (www.petline.com.tr)
Petline Petroleum is a fuel oil distribution company with 100% Turkish capital and was founded in 1994 at Istanbul by the Armağan and Camadan families. Petline has 230 dealers in Turkey, including the Aegean, Marmara and Central Anatolia regions. Petline is determined to continue its fast development and operating under the ethical values established at its founding. Petline will continue its innovative approaches with SELFSTOP, HWC applications and other innovations and will also continue to contribute in the sector and the economic growth of the country.
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.