Verifone (NYSE: PAY) today announced that its Commander Site Controller and Ruby2 POS solutions have been selected by The Fikes Companies for deployment across its entire chain of CEFCO Convenience Stores. One of the top 40 largest company-operated convenience store chains in the U.S., CEFCO operates 227 convenience stores within Alabama, Arkansas, Florida, Louisiana, Mississippi, Oklahoma and Texas.
EXPEDITED EMV MIGRATION
Verifone’s solutions will provide CEFCO an EMV-ready platform that enables the chain to support EMV in its stores in time for the October 2015 EMV liability shift. In addition to reducing complexity by separating payment, fuel and POS software for easier management and remote upgrades, the solutions will also enable CEFCO to support EMV at-the-pump in time for the October 2017 EMV liability shift that applies to the petroleum forecourt.
“Our goal is to standardize and consolidate our payment systems with a solution that gives our entire chain of CEFCO stores the most efficient path to EMV acceptance,” said H. Lorne Brockway, vice president of Information Technology for The Fikes Companies. “Verifone’s partnership will enable us to not only support EMV in time for the liability shift deadlines, but also improve our store management capabilities and expand our use of the solution in the future.”
The rollout, which is currently underway and expected to be completed by the end of 2015, is being managed by Verifone’s Authorized Service Contractor network.
SINGLE INTEGRATED SITE SOLUTION
Commander Site Controller from Verifone is a single site management software platform that supports all petroleum and card brands, providing increased speed in at-the-pump and in-store payment acceptance, fueling operations and back office control.
Key benefits of Commander Site Controller include:
- Increased speed of payment, fueling and store control through 100 percent IP data transfer
- Future-proof, expandable architecture for added functionality
- Remote access for real-time updates and operations management from any web-enabled device, including tablets and smartphones
Commander Site Controller features Commander Console—a cloud-based software management system allowing managers and owners to manage all aspects of their business, including payment, in-store and forecourt operations. It includes an iOS and Android mobile app through which store managers can access a graphical set of operational matrixes that are easy to navigate.
ENHANCED CHECKOUT & CENTRALIZED STORE MANAGEMENT
Commander Site Controller supports Ruby2, Verifone’s latest POS solution built specifically to endure harsh convenience store environments. Its touch-screen console provides fast, efficient order taking and payment processing, and its multi-core processor allows for streamlined store and customer management—all through a centralized device that increases space at the counter with its small footprint for each work station.
Key benefits of Ruby2 include:
- Increased checkout speed
- Customizable, easy to use touch-screen
- Small footprint
- Flexibility to support future business needs
- Full workstation access to store operation components such as price changes, store updates and software program management
“Merchants in all verticals are challenged by the migration to EMV as well as the rapidly changing payment technology landscape,” said Dan Yienger, senior vice president of Petroleum for Verifone. “Fikes’ forward-thinking approach to payments will simplify and expedite its move to EMV, while at the same time putting in place a flexible, standardized payment system that is easy to use and can grow with future business needs.”
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 POS solutions with Fikes, 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.
About The FIKES Companies
The Fikes Companies (“FIKES”) is a group of six family owned business units. Fikes Wholesale, Inc. which is our petroleum products marketing business distributes fuel to commercial and retail accounts throughout the United States through strategic relationships with Shell, ExxonMobil, ChevronTexaco, Citgo, Valero, and numerous independent fuel suppliers (www.fikesinc.com). Fikes Terminals began operations in 2015 and supplies finished products from our 80,000 barrel fuel terminal in Waco, Texas. Our convenience retailing business markets through our network of approximately two hundred and twenty seven CEFCO and Food Fast branded convenience stores located in Alabama, Arkansas, Florida, Louisiana, Mississippi, Oklahoma, and Texas (www.cefcostores.com). CORD Financial Services specializes in ATM sales, placements and credit card processing services. CORD provides these services to over 8,000 locations throughout the United States (www.cordfinancial.com). Our Group Petroleum Services transportation business consists of twenty-eight fuel delivery trucks (www.gpscarriers.com), and our JF Air Traffic charter airline service operates through a partnership with Landmark Aviation.
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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