Verifone (NYSE: PAY) today announced that one of Chile’s largest payment processing networks—Multicaja—has begun deploying Verifone’s 3G wireless payment terminal solution to enable merchants throughout Chile to enhance the consumer experience by securely accepting all forms of payment from beyond the counter—in any retail environment.
PROVEN EXCEPTIONAL VALUE
Following a competitive evaluation process, Multicaja selected the Verifone VX 520 3G for its exceptional value and functionality, which includes an integrated color screen, PCI 3.0 compliance and the ability to accept EMV, NFC and all other forms of payment. Multicaja expects to deploy the solution to its new merchant clients throughout 2015.
Multicaja connects businesses, banks and consumers across all Chilean regions with its network that processed more than 115 million transactions in 2014. Verifone’s wireless terminal solution supports Multicaja’s gateway services, which are used by more than 5,000 chains and stores to process a multitude of transactions including purchases, bill payment, PayPal redemption, deposits and withdrawals, insurance sales and lottery ticket purchases.
“Multicaja’s payment processing network is the largest in Chile because of our commitment to the success of our merchant clients,” said Pamela Cuzmar, Chief of Technology and Operations, Multicaja. “Verifone’s terminal solution provides us with reliable, future-proof devices—backed by decades of payment technology leadership—that enrich our offerings and enable us to continue meeting our commitment to merchants.”
“Consumers’ expectations are changing, and they increasingly want to be able to conveniently and securely make purchases in all types of retail settings, not just at the counter,” said Carlos Lima, president of Latin America and the Caribbean for Verifone. “Providing our secure EMV and NFC enabled wireless solution demonstrates Multicaja’s forward-thinking approach to payments, as well as its commitment to helping clients succeed by giving them the ability to meet consumers’ changing demands while future-proofing their payment infrastructure.”
MULTI-PAYMENT ACCEPTANCE IN ALL MERCHANT ENVIRONMENTS
Verifone’s reliable, rugged solution handles encryption, decryption and processing at lightning speeds thanks to a powerful processor and expandable memory that supports demanding value-added applications. The wireless 3G version of the device provides added portability and flexibility in deployment and usability—especially for restaurants, transportation service providers, and other types of merchants that interact with consumers in “on-the-go” environments.
FEATURE RICH FOR ENHANCED CONSUMER INTERACTION
One of the most popular payment terminal solutions available today, the VX 520 from Verifone is designed for easy use and includes the following features to ensure enhanced interaction with consumers:
- Future-proof technology, including EMV, NFC enablement and PCI PTS 3.X certification
- Ergonomic design and small footprint
- 5-way screen navigation button
- High contrast, 128 x 64 white backlit display (screen) and keypad for all lighting situations
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 new terminal solutions with Multicaja, market acceptance of our product and services offerings, 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.
Multicaja was created in April 2007 and started its operations in April 2008 with the main objective to develop an information system and process data to facilitate online transactions. For that purpose, Multicaja has been contracted by several “Clients” (companies that want to offer their transactions through the Multicaja network) such as mobile phone networks (prepaid credit), insurance companies (compulsory car insurance) and utilities companies, such as lighting, gas , etc. for bill payments. The service Multicaja provides to these Clients includes the capture, transmission, registration, management and processing of electronic transactions that transact through Multicaja´s merchant network. Multicaja has enabled electronic devices (POS) that allow Merchants to connect to its systems.
Verifone is transforming everyday transactions into opportunities for connected commerce. We’re connecting more than 27 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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