This week, Verifone (NYSE: PAY) and MasterCard provide Las Vegas taxi cab passengers with card-linked offers. The program runs from November 2-6 in conjunction with Money 20/20, a leading global event for innovations in money.
Verifone and MasterCard collaborated on this campaign designed to demonstrate the power of point of sale for digital offers that are easy for merchants to propose and simple for consumers to accept and redeem.
How Card-Linked Offers Work:
Targeted offers from merchants, in this case The Hard Rock Café on the Vegas strip, the Bali Hai and Royal Links golf courses and Dream Racing at the Las Vegas Motor Speedway, are displayed to taxi passengers on VNET–Taxi TV screens integrated with Verifone payment terminals. Offers can be selected and “clipped” (attached to the passenger’s MasterCard card) by:
- Scrolling the digital screens to view and select offers
- Swiping credit or debit cards or tapping mobile phones to secure Verifone payment devices to link the offers to MasterCard accounts; there is no payment or purchase obligation for selecting offers
- Entering mobile telephone numbers to receive text message notifications
Debit cards can be used for offers provided cardholders select the ‘signature,’ rather than PIN transaction option. Apple Pay may also be used provided the cab and merchant terminals have been enabled for Apple Pay.
To redeem the offers, consumers simply use the linked card or device to pay at the selected merchants. Text messages immediately confirm the redemptions, and credits appear on card statements within days.
The platform requires no point-of-sale or technical integration. All transaction monitoring, redemption tracking and credit issuance is enabled utilizing card linked services powered by the MasterCard Rewards & Offers Platform.
“Card-linked offers create immediate value for cardholders,” said Michael Cyr, executive vice president, U.S. market development, MasterCard. “The collaboration with Verifone demonstrates the potential for point of sale to deliver offers in ways that are amazing for consumers and simple for merchants.”
“We know that offers can help merchants and retailers drive behavior with trackable and measurable results,” said Vin D’Agostino, senior vice president, Global Commerce Enablement, Verifone. “The card-linked offers application, part of Verifone’s commerce platform, leverages Verifone’s growing network of connected terminals to deliver real value to clients without requiring technology investment on their end.”
On display at Money 20/20
Verifone CEO Paul Galant will demonstrate this new program during his keynote at Money 20/20, at 9:20 a.m. PT on Tuesday, November 4th. A demonstration can also be seen in the Verifone (#717) booth.
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 our card linked offer pilot with Mastercard, 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.
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on theCashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.
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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