(Mobile World Congress Booth #7MM22) Verifone Systems, Inc. (NYSE: PAY), today announced a next-generation version of PAYware Mobile Service for global markets. This latest innovation features Verifone's sleek mobile payment solution and gateway service and brings international payment standards including NFC and EMV smart card, with PCI-compliant PIN keypad for Chip & PIN transactions, to popular smart phones.
With this solution, small businesses around the world will be able to accept smart card, mag-stripe card and contactless-based payments anywhere at any time. The second generation of PAYware Mobile will be available in the UK and Canadian markets during the first quarter of 2011. In addition, PAYware Mobile will be introduced into additional countries across Europe, Latin America and Asia throughout 2011.
"PAYware Mobile struck a chord with micro merchants in North America who wanted to be able to quickly and securely accept credit card payments anywhere by leveraging a cost-effective, mobile smart phone" said Paul Rasori, Verifone senior vice president of marketing. "Verifone is now leveraging our global partnerships and distribution capabilities to provide a mobile payment platform that supports regional demands for EMV, NFC-based applications, and secure, PCI-compliant PIN entry."
Each generation of PAYware Mobile provides smaller merchants with a cost-effective alternative to dedicated payment devices by providing an entire smart phone-based solution that includes Verifone's VeriShield Protect end-to-end encryption of card data. Users also gain access to sophisticated reporting tools via Verifone gateway services, as well as the ability to email customized receipts to customers.
The global version of PAYware Mobile incorporates a battery that provides 10 hours of PIN pad operation so users can accept payment without impacting on the smart phone's battery. It also incorporates a mini-USB port for convenient charging capability.
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 VeiFone's next generation Payware Mobile solution, 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.