Global | Change

Verifone Point Now Available to Small Merchants through ISOs and Acquirers

North American Payment as a Service offering enables partners to add value, reduce complexity for merchants March 30, 2015 SAN FRANCISCO (ETA TRANSACT 15, Booth #1213)

secure-commerce-architecture-schematic-thumbVerifone (NYSE: PAY) today announced that its Payment as a Service offering in North America—Verifone Point—is now available to small-and-medium-sized businesses (SMBs) in the U.S. through Verifone’s network of Independent Sales Organization (ISO) and acquirer partners. In the U.S., the offering was previously only offered by Verifone directly to large retailers.

ENHANCED SERVICES ACCESS AND FASTER EMV DEPLOYMENT

Verifone’s Payment as a Service bundles hardware, software, gateway and support services into a single integrated solution that is built on Verifone’s Secure Commerce Architecture (SCA) and can be customized by ISOs and acquirers to provide everything their clients need for seamless and secure payment acceptance and transaction management. Extending the availability of Payment as a Service to ISOs and acquirers offers Verifone’s partners a way to reduce operational costs and provide merchants with ready access to current and future value-added services while expediting the deployment of EMV-ready payment terminals.

"With more than 60 deployments with large retailers and POS solution providers and integrators in the U.S. alone, our Payment as a Service offering has quickly established a new model for reducing payment complexity, speeding innovation and allowing merchants to focus on growing their core business,” said Vincent Roland, senior vice president of Payment as a Service for Verifone. “By making Payment as a Service available through our channel partners, we help them provide a level of value to their clients that is typically only associated with enterprise retailers."

SIMPLIFY AND "FUTURE-PROOF" PAYMENT SYSTEMS

With the EMV liability shift quickly approaching in the U.S., many smaller merchants are unprepared for a transition to EMV and contactless payments, including new mobile payment options such as Apple Pay, Google Wallet and Samsung Pay. Another challenge facing merchants is the ever-present threat of cybercriminals and payment data breaches.

Verifone’s North American Payment as a Service offering is bundled to meet the needs of each ISO and acquirer, and can include payment terminals, application software, breach insurance as well as gateway and estate management SAQ services—enabling them to reduce payment complexity for clients by providing:

  • Reduced total cost of payment system ownership
  • Quick integration with EMV, NFC, mobile wallets and other emerging payment technologies.
  • Estate management through which security and feature updates can be downloaded sooner--removing the "guesswork” and complexity of managing multiple payment methods and technologies.

For semi-integrated merchants, the offering also enables ISOs and acquirers to decouple the POS from the flow of payment data, preventing the data from being stolen at scale.

STREAMLINED EMV AND SECURITY COMPLIANCE

The potential financial penalties associated with the upcoming EMV liability shift could impact even the smallest merchants as well as their service providers. Verifone’s Payment as a Service offering vastly reduces the scope, time and expense of compliance and recertification management, while easing the integration of future new payment technology. Payment as a Service uses Verifone’s SCA to connect terminals directly to Verifone’s gateways or the processor host--making it easier for acquirers and ISOs to meet PCI requirements and quickly update terminal payment applications to comply with changes to card brand-specific EMV requirements.

Payment as a Service also ensures that payment transaction data is encrypted from the moment a card is submitted until it reaches Verifone’s gateway or the merchant’s processor host.

INCREASED VALUE AT THE POINT OF SALE

By offering Verifone’s Payment as a Service, ISOs and acquirers can also provide clients the ability to efficiently provide special promotions and product offers through terminals at the POS—the types of incentives that consumers increasingly expect for their loyalty.

SCA provides the ability for merchants to engage consumers with targeted advertising, digital loyalty, coupons and product offers at the POS through Verifone’s Commerce Enablement offerings. Verifone’s goal is to enhance merchants’ ability to create more value for their customers, and SCA will provide the foundation for Verifone’s Commerce Enablement offerings, which will allow merchants to easily customize and personalize their sales environment and provide consumers with value at the POS.

LEARN MORE AT TRANSACT® 15

Visit Verifone (Booth# 1213) at the Electronic Transaction Association’s (ETA) TRANSACT 15 to learn more about Payment as a Service and SCA.

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 payment as a service offering in North America, 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 Verifone

Verifone is transforming everyday transactions into opportunities for connected commerce. We’re connecting more than 26 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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