EXPEDITED EMV MIGRATION
Verifone’s solutions will enable Tri Star and truenorth to accept EMV payments in their company-owned and affiliate locations. The solutions will also assist both companies with their EMV migration at the pump in connection with the scheduled October 2017 EMV liability shift that applies to the petroleum forecourt. The rollouts, which are currently underway and expected to be completed by the end of 2015, are being managed by Verifone’s Authorized Service Contractor network.
“Verifone provides the most comprehensive solutions to meet the demands of petroleum and convenience stores as we and the industry respond to changing consumer needs and regulatory requirements,” said Steve Hostetter, CEO of Tri Star, which is deploying Verifone solutions across approximately 150 retail and wholesale locations in Tennessee, Kentucky and Georgia.
truenorth is deploying the Verifone solutions at 110 company-owned stores and 100 marketer affiliates in Ohio, Illinois and Michigan. Lindsay Lyden, vice president of Development for truenorth said, “This deployment will help our store operators improve operational efficiency while providing customers with faster service and confidence that we’ve deployed the latest in secure payment solutions.”
FROM STORE COUNTERTOP TO PUMP MANAGEMENT
Both Tri Star, headquartered in Nashville, and truenorth, headquartered in Brecksville, OH, have selected a comprehensive lineup of Verifone solutions, including:
- Commander Site Controller: Verifone’s 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 with IP-based data transfer and cloud-based remote management capabilities.
- RubyCi: combines Commander Site Controller with Verifone’s latest POS workstation, Ruby2, which provides a touch-screen console and multicore processor for fast, efficient order taking and payment processing in a format that preserves counter space.
- Topaz XL: Verifone’s point of sale workstation, featuring an industry-first combination 15-inch touch screen display and 120-key keyboard. The system features a rich library of reports that are loaded with vital information that enable store managers and site owners to better understand and manage their business.
- The MX 915 and MX 925 consumer-facing, multimedia payment devices that can engage consumers in new ways with full-motion video display.
ENHANCING THE CUSTOMER EXPERIENCE
“Tri Star and truenorth stores will enhance the fueling, shopping and payment experience for customers in two key US regions,” said Dan Yienger, senior vice president of Petroleum for Verifone. “With convenient and secure payment systems, the latest countertop workstations and powerful and flexible control platforms, both companies are prepared to meet EMV and other changing industry requirements, and they will be able to quickly adapt to future needs as well.”
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 petroleum EMV-ready POS solutions, 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.
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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