Verifone Systems, Inc. today announced its partnership with XPIENT Solutions to provide a class leading payment-as a service (PAAS) solution for quick service restaurant (QSR) and fast-casual dining markets. The solution enhances security through payment system isolation and end-to-end encryption while providing a pathway to EMV and NFC payment acceptance at the point-of-sale (POS).
IRIS is a flexible POS application from XPIENT Solutions, a leading provider of comprehensive technology solutions used by 17 of the top 50 QSR brands. Integration of XPIENT’s platform with Verifone’s PAAS solution—Verifone Point—enables restaurant operators to future-proof payment infrastructure for EMV and NFC payment acceptance while enhancing data security with a SRED and PCI PA DSS certified end-to-end encryption solution—the “gold standard” in payment security recommended by the PCI Council and other payment industry authorities.
“XPIENT powers some of the most recognized quick service and fast casual restaurant brands,” said Christopher Sebes, chief executive officer of XPIENT Solutions. “Our partnership with Verifone yields a ground-breaking solution that provides restaurants with best-in-class POS functionality and data security as well as a direct path to accepting EMV and NFC presentment and other forms of payment that are growing in popularity among consumers.”
The growing burden of both PCI compliance and absolute credit card data security is proving challenging for QSR and fast casual merchants. Verifone Point addresses both of these issues by isolating the XPIENT platform from PCI scope, as payment data is never transmitted or exposed to the XPIENT system. Further, regardless of presentment technique, card data is encrypted within a SRED certified module.
The XPIENT system is complemented by the customizable Verifone Point platform, which includes the following features:
- VeriShield Total Protect: An end-to-end encryption and tokenization solution that protects retailers’ brands and reduces PCI complexity by eliminating usable cardholder data at the point of swipe.
- Verifone HQ: An advanced solution that reduces estate management complexity, protects POS investments, and reduces total cost of ownership by keeping systems consumer-ready through remote diagnostics, device management and content management.
“We understand the challenges facing restaurants and their service providers when it comes to protecting customer data and having the technology in place to accept future payment types,” said Jennifer Miles, president, Verifone Americas. “Through our partnership with XPIENT, restaurants now have the flexible and reliable bundle of best-in-class hardware, software and services they need to quickly and easily adapt to changing security mandates and bolster their point of sale to accept EMV credit cards, mobile and other types of alternative payments.”
The platform is available on all Verifone terminals, including mobile devices, and offers restaurants the flexibility to select any processor they choose.
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: market adoption of our new security solutions for restaurants, 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 XPIENT Solutions, LLC. (www.xpient.com)
XPIENT Solutions is an organization of highly qualified restaurant and software development specialists devoted to business process improvement and professional support services for the foodservice industry. XPIENT offers a full complement of integrated technologies including Point-of-Sale, Back Office and Enterprise Management. From applications that help efficiently take orders and improve kitchen throughput, to labor management, production prep, inventory control, customer loyalty, speed of service, surveillance enhancement and data management tools, XPIENT’s solution suite allows the restaurant operator to better and more easily manage every aspect of their restaurant operations.
About Verifone Systems, Inc. (www.verifone.com)
Verifone Systems, Inc. (“Verifone”) 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.