Merchants and Consumers to Enjoy Convenience of Loyalty Programs via Apple Pay
Announced during the Apple Worldwide Developers Conference, Apple Pay™ will support rewards programs from merchants with the fall availability of iOS 9. Verifone (NYSE: PAY), the global leader in secure electronic payment solutions, will be among the first to enable clients to accept rewards and loyalty information in addition to NFC payments at the terminal via Apple Pay.
To start, Verifone will enable six national and global retailers to be the first to accept NFC loyalty transactions on Verifone’s MX 915 and MX 925 terminals for their consumers to redeem rewards and accrue points.
“Adding loyalty to Apple Pay will open a world of opportunity for a wide range of merchants to engage consumers and grow their businesses,” said Vin D’Agostino, executive vice president of Commerce Enablement, Verifone. “We are proud to support Apple Pay in expanding contactless payments to include loyalty. This is a powerful reminder of Verifone’s expertise and expansive client relationships as we continue to simplify payments and enhance customer engagement opportunities for our merchants.”
For consumers, this partnership will add another level of ease and convenience to both pay with Apple Pay and present merchant loyalty information stored in the Wallet app in iOS 9, eliminating the need to scan a plastic loyalty card.
VERIFONE MX 900 SERIES
The MX 900 series’ ability to enhance the customer experience at the POS, while supporting all types of payments, has made it exceptionally popular among well-known merchants and retailers in North America. The MX 900 series features stunning digital color displays, high-speed graphic processors and large memory capacities that enable retailers to deliver targeted promotional content to consumers at the point of sale (POS).
SECURE PAYMENTS WITH APPLE PAY AND VERIFONE
Security and privacy is at the core of both Apple Pay and Verifone. When you add a credit or debit card to Apple Pay, the actual card numbers are not stored on the device, or on Apple servers. Instead, a unique device account number is assigned, encrypted and securely stored in the secure element on your device. Each transaction is authorized with a one-time unique dynamic security code, instead of using the security code from the back of your card.
For merchants, Verifone’s Secure Commerce Architecture (SCA) brings an important layer of security designed to protect merchants from data breaches by routing payment data directly from the terminal to the processor and bypassing the POS system. Connected terminals such as SCA will be able to add and process loyalty information used with Apple Pay.
For more information about Verifone and Apple Pay, visit: http://www.verifone.com/apple-pay.
For more information on Apple Pay, visit: http://www.apple.com/apple-pay/.
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 who 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.
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 solution to support Apple Pay 2.0, 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 a 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.
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