Verifone Systems, Inc. (NYSE: PAY), today announced that it has shipped its 500,000th payment systems to Swedish partner Point Transaction Systems with whom it has forged a strong sales and infrastructure relationship spanning more than 20 years. Point uses Verifone systems and software at the overwhelming majority of its several hundred thousand merchants.
Point is Verifone's representative in Scandinavia and the Baltics. As well, Point resells Verifone systems and software in England through its subsidiary, Commidea.
"Congratulations to the Point team on this milestone achievement. Customers of Point Transaction Systems know they are getting all the benefits of a local partner backed by the worldwide product scope and infrastructure expertise of Verifone," said Douglas G. Bergeron, CEO of Verifone.
"We're delighted that together we have developed a tremendous working partnership upon which so many Northern European customers are reliant. Verifone provides critical functionality in the areas of operating systems, EMV chip and PIN, and security for Point's Verifone end users. Verifone also delivers the ongoing updates required by Point's merchant base to stay compliant with increasingly demanding European payment and security regulations," Bergeron added.
Point was founded in Norway in 1987, with Sweden as its first market. With a workforce of more than 700 employees across the Group, Point is able to call upon the worldwide resources of Verifone to meet virtually any customer need for payment products and services.
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: our ability to continue to successfully provide payment solutions for Point Transaction Systems and its end 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.
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.