Verifone Systems, Inc. (NYSE: PAY), and SK C&C, the Korea-based global IT services company, announced today they are partnering on deployment of open interface standards and technology platforms for management of digital wallet services, acceptance solutions and mobile commerce. The two companies are currently in deployment activity with several large mobile network operators (MNOs).
SKC&C has adopted Verifone’s OpenAPI common interface standards that govern communication between a mobile wallet and a merchant’s acceptance device. The OpenAPI standards ensure that value-added wallet data such as offers, coupons and loyalty, are universally accepted and flow seamlessly through merchant systems without disruption of traditional transactions.
“MNOs are eager to deploy an end-to-end wallet solution, but need standardized interfaces and technology platforms to manage the complexity of advanced value-added mobile wallet applications for both consumers and merchants,” said Paul Rasori, senior vice president of Marketing for Verifone. “Verifone payment solutions and services are widely adopted globally and, combined with our PAYmedia Mobile Marketing Platform, provide a management solution for SK C&C’s wallet infrastructure.”
The current deployment projects involve a peer-mode interface to enable an active dialogue between a mobile wallet and the merchant’s payment acceptance device. Seamless integration of SK C&C’s wallet solution with Verifone technology platforms provides MNOs the ability to more rapidly deploy advanced mobile wallet services. MNOs are able to implement a variety of payment and non-payment transactions through the interaction of consumer mobile devices and merchant acceptance systems.
“With our mobile technology expertise, SK C&C has delivered innovative mobile commerce solutions to leading global MNOs, merchants, and platform companies.
Our partnership with Verifone will enable MNOs to rapidly and easily deploy their mobile commerce services in the market,” said Kim Min Seok, vice president of SK C&C’s mCommerce division.
Verifone’s PAYmedia Mobile Marketing Platform connects the independent ecosystems of issuance and acceptance into one fully integrated environment. This makes it possible to deliver coupons, promotions and loyalty offers to consumer mobile devices based on geo-targeting, purchase history and demographic data, allowing consumers to receive and redeem promotional and loyalty offers and discounts on their mobile devices at the point of sale.
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 successfully partner with SK C&C to deploy platforms for management of digital wallet services, acceptance solutions and mobile commerce, customer acceptance and adoption of our new solution offerings, 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.
SK C&C (www.skcc.com)
SK C&C is a total IT service provider with its services covering a wide array of areas: consulting, system integration, IT outsourcing, ICT convergence, etc. SK C&C has experienced double digit growth every year since its establishment, and currently aims to become a top global ICT player through enhanced business competitiveness, secured ICT convergence capabilities and proactive expansion of its global reach driven by innovation. With its over 10 years’ mobile payment experience, SK C&C launched its global mobile commerce business in 2010, and delivered its mobile commerce solution (Corfire) to global leading MNOs and merchants.
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.