With more than 13 million customers, Westpac Group is one of the largest financial services institutions in Australia and New Zealand. Westpac Group—including St.George, Bank of Melbourne and Bank SA—will provide the VX 690 payment terminal from Verifone along with full terminal management support through Verifone’s Payment as a Service platform. The partnership provides a superior level of servicing that will offer Westpac Group’s merchant clients a market leading platform for faster onboarding, the ability to see their daily transaction activity in real-time and full support provided by Verifone’s technical expertise.
“At Westpac we know the tools our merchants use are critical to getting the most out of their business and delivering the best possible experience for their customers,” said Steve Aliferis, Head of Product, Australian Financial Services, Westpac Group. “That’s why we are one of the first banks in the world to introduce the latest Verifone terminals which are designed to solve payment challenges and bring convenience to our merchants to accept emerging forms of payments in any type of environment.”
A handheld payment terminal, the VX 690 can accept all types of payments—including EMV, NFC and mobile wallets. It features Bluetooth, 3G radio and Wi-Fi connectivity that meets merchants’ demands—especially where multiple connectivity options are increasingly required for payment device acceptance. The terminal will also be able to accept cards branded by UnionPay International (previously China UnionPay).
Verifone’s Payment as a Service platform will enable merchants to connect the terminals to Verifone’s gateways for efficient transaction routing, simplified device monitoring and enhanced payment security and compliance. Each terminal is also backed by Verifone’s call center and field support services.
“This new platform provides Westpac Group a core end-to-end solution to help solve payment challenges for merchants, enhance the customer experience and easily go to market with additional payment products and services in the future,” said Peter McLeod, General Manager of Australia and New Zealand for Verifone. “The ability to simplify payments and enhance customer service are just some of the reasons we continue to see an increasing number of financial institutions and merchants outsourcing the deployment and management of their payment systems to us.”
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 VX690 terminal with Westpac Banking Corporation, 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 Westpac Banking Corporation (www.westpac.com.au)
Westpac Banking Corporation (Westpac) was founded in 1817 and was the first bank established in Australia. Westpac Group has branches and controlled entities throughout Australia, New Zealand and the near Pacific region and maintains offices in key financial centres around the world including London, New York, Hong Kong and Singapore. Westpac is ranked in the top 5 listed companies by market capitalisation on the Australian Securities Exchange Limited (ASX).
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.