Verifone (NYSE: PAY) announced today that its complete Payment as a Service solution has been selected by Turkish Airlines to meet the needs of its 6,000 ticketing offices and agencies. Verifone will provide a single-source solution, including help desk, field services, hosting, and hardware and software services.
Payment as a Service from Verifone provides Turkish Airlines maximum flexibility while alleviating the burden of integration, management and cost volatility. Turkish Airlines originally leveraged the platform in its own ticketing offices before expanding the deployment to its agencies this past summer. The initial deployment of 1,000 offices is expected to grow to a total of more than 6,000.
“Verifone’s Payment as a Service ensures that agencies and our own sales offices can work under the same conditions and eases the work load on our accounting department,” said Altuğ Meydanlı, vice president of Income Accounting for Turkish Airlines.
Verifone’s integrated platform enables Turkish Airlines to securely accept cards from 12 different banks, process installment payments, simplify reporting across its SAP accounting systems and streamline PCI management. It also sets the stage for the airline to enhance customer service by supporting loyalty programs offered by cardholders’ banks.
“Verifone’s integrated, single source Payment as a Service solution ensures Turkish Airlines is able to meet industry requirements and ensure security and compliance utilizing our PCI DSS hosting facilities,” said Onur Altinbaş, general manager for Turkey, Southern Europe and Russia for Verifone. “This solution handles all payment transactions, improves customer satisfaction and will enable Turkish Airlines to offer new loyalty applications.
Payment as a Service from Verifone combines world-class hardware, software, and services in a flexible and robust managed services suite with a cost-predictable subscription model to ensure simplicity and deliver an optimal customer experience.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for VeriFone Systems, Inc
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs and on currently available competitive, financial and economic data 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., including many factors beyond our control. These risks and uncertainties include, but are not limited to, those associated with: successful rollout of Verifone’s payment as a service solution with Turkish Airlines, execution of our strategic plan and business initiatives and whether the expected benefits of our plan and initiatives are achieved, short product cycles and rapidly changing technologies, our ability to maintain competitive leadership position with respect to our payment solution offerings, our assumptions, judgments and estimates regarding the impact on our business of the continued uncertainty in the global economic environment and financial markets, our ability to successfully integrate acquired businesses into our business and operations, our ability to protect against fraud, the status of our relationship with and condition of third parties such as our contract manufacturers, distributors and key suppliers upon whom we rely in the conduct of our business, our dependence on a limited number of customers, the conduct of our business and operations internationally, our ability to effectively hedge our exposure to foreign currency exchange rate fluctuations, and our dependence on a limited number of key employees. For a further list and description of the risks and uncertainties affecting the operations of our business, 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. The forward-looking statements speak only as of the date such statements are made. 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 Turkish Airlines:
Turkish Airlines, which is a member of Star Alliance s, was established in 1933, this company and currently has a 264 (passenger and cargo) plane fleet, flies to 217 international, 43 domestic points and 260 points in the world. According to a Skytrax evaluation in 2014, Turkish Airlines was successively selected as the “Best Airline Company of Europe” for the 4th time and “Best Airline Company of Southern Europe” for the 6th time. Turkish Airlines, which won awards of “Best Economy Catering” of the world in 2010 and “Best Business Class Catering” in 2013, was granted awards of “Best Business Class Catering” and “Best Business Class Private Passenger Saloon Catering” of the world in a Skytrax evaluation of this year. You can obtain more detailed information on Turkish Airlines from this web site: www.turkishairlines.com.
Verifone is transforming everyday transactions into opportunities for connected commerce. We’re connecting more than 26 million payment devices to the cloud—merging the online and in-store shopping experience and creating the next generation of digital engagement between merchants and consumers. We are built on a 30-year history of uncompromised security. Our people are known as trusted experts that work with our clients and partners, helping to solve their most complex payments challenges. We have clients and partners in more than 150 countries, including the world’s best-known retail brands, financial institutions and payment providers.
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