Verifone Systems, Inc. (NYSE: PAY) announced today the VX 690—its first handheld EMV-capable payment terminal featuring Bluetooth, 3G radio and Wi-Fi connectivity for fast transactions and flexible payment capabilities. The terminal’s size, design and multiple connection capabilities meets merchants’ mobile point of sale (mPOS) demands—especially in North America, Australia and parts of Asia—where 3G connectivity is increasingly required for payment device acceptance.
“It is no secret that merchants increasingly want a user experience that parallels that of a consumer electronics device,” said Bill Nelson, executive vice president of Global Product Management for Verifone. “The VX 690 achieves this goal while providing 3G connectivity that is critical in many markets where 2G networks are transitioning to 3G. The user experience of the terminal combined with its robustness, flexibility, and technical communication capabilities will not only enable payments today—it will enable commerce tomorrow.”
Enhanced Communication Flexibility
The VX 690’s Bluetooth, 3G radio and Wi-Fi combination provides fast, wireless payment convenience as well as fewer dropped transactions in virtually every type of merchant environment. Dual SIM functionality enables the terminal to quickly connect to different networks to keep transactions moving, while built-in GPS allows merchants to track the location of every transaction, providing greater visibility into operations and inventory across multiple stores.
The terminal is PCI PTS 3.0 compliant and features built-in security protection that includes end-to-end encryption to protect data at every point of the transaction.
Simple, Consumer Electronic Style Design
The VX 690’s simple, handheld design is similar to consumer technologies and easily fits on countertops and in users’ hands. Its built-in functionality includes:
- 3.5" capacitive touch display that allows merchants to enable commerce with marketing messages via video streaming and audio capabilities
- Single micro-USB connector for added convenience and functionality
- EMV capability for supporting PIN, Signature, and no Cardholder Verification Method (CVM)
- NFC capability to support contactless and mobile wallet transactions
- Bluetooth Low Energy (BLE) support
- Peripheral capability for potential future expansion, including biometric scanner/barcode reader
“Virtually all consumers use portable technologies providing enormous capabilities in their day-to-day lives. Using these technologies has become second nature, not only because of their practicality, but because they present advanced functionality in a brilliant, yet simple package that is easy to use,” said Nelson. “The VX 690’s purpose-driven design merges advanced, secure mPOS capabilities with the type of sleek and simplistic form factor that is familiar to consumers and can help merchants improve the customer experience.”
The VX 690 from Verifone is expected to be available in late 2014.
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: the successful rollout of the VX 690 solution, 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 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.