Verifone Systems, Inc. (NYSE: PAY), today announced an agreement with Isis, the joint venture between AT&T Mobility, T-Mobile USA and Verizon Wireless, to integrate the Isis Mobile Commerce Application in current and future NFC-enabled product lines. The companies have also agreed that their sales, marketing and implementation teams will collaborate to target large retail and petroleum/convenience merchants in previously announced Isis launch markets of Salt Lake City and Austin.
Verifone's leading market share of U.S. retailers, NFC-ready product portfolio and "payment-as-a-service" delivery model will help accelerate the wide scale introduction and the adoption of mobile commerce. Verifone is the preferred payment solutions provider for retailers, with 70 percent of the top 200 retail companies in the U.S. and with more than one million NFC-capable Verifone MX Solutions systems already deployed in the U.S.
"Payment systems at the point of sale provide crucial infrastructure for the development of mobile commerce," said Scott Mulloy, chief technology officer, Isis "Our work with Verifone helps bring to market the product and technical capabilities critical to success, but more importantly leverages Verifone's massive U.S. footprint to turn on Isis quickly and easily at large merchants."
"We are excited about the opportunity help launch Isis with retailers in Salt Lake and Austin and we are ready to provide the expertise and services necessary for a national rollout," said Jennifer Miles, Verifone executive vice president, North America. "Verifone customers will be able to leverage the integration of the mobile experience to engage consumers with new payment options, couponing, and loyalty services."
Verifone will layer Isis interfaces and user experience onto its pre-existing integration at hundreds of thousands of merchant locations in the United States, alongside traditional payment forms. Merchants will become Isis ReadyTM through a combination of new payment systems and NFC add-ons devices, as well as remote software upgrades of certain devices already in the field.
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 the ISIS mobile commerce application, customers acceptance and adoption of our NFC solutions, 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.
The joint venture is between AT&T Mobility LLC, T-Mobile USA and Verizon Wireless and is based in New York City. The venture is chartered with building ISIS™, a national mobile commerce platform that will fundamentally transform how people shop, pay and save. The Isis mobile commerce network will be available to all merchants, banks and mobile carriers. Isis is a trademark of JVL Ventures, LLC in the U.S. and/or other countries. Other logos, product and company names mentioned herein may be the trademarks of their respective owners. www.paywithisis.com
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.