Retail Payment, a Norway-based payment acceptance platform provider owned by leading Norwegian retailers, announces the introduction of an open omni-channel platform making payments customer-friendly, secure and cost efficient.
Retail Payment will collaborate with partners such as Verifone, Intel, IBM and Forgerock to manage the defacto standard infrastructure for future payments. Retail Payment and Verifone will collaborate to deliver the latest Verifone Engage and Carbon series solutions to the Norwegian market, connected to the Verifone Commerce Platform. Norway is one of the world’s most sophisticated commerce markets, and Retail Payment and Verifone will deliver a scalable platform that offers open standards and APIs securing payments as well as identification for customer loyalty programs, in a cost efficient and seamless manner.
Retail Payment’s team of owners and customers already handle the large majority of the transactions in the Norwegian market. To ensure customer-friendly and efficient payments in store, the payment infrastructure will build on the existing low-cost and secure Norwegian BankAxept payment network, enabling the use of contactless cards and mobile payment solutions.
“Norway is already recognized for having the world’s most efficient payment system and the highest number of card transactions per capita. Building on this, the Retail Payment platform will offer customer-friendly, secure and unified payment solutions in all stores”, says Hans Petter Hoel, CEO of Retail Payment.
“Having partnered with leading technology providers such as Verifone, we can easily scale cross-border solutions that offer superior design and engagement capabilities, as well as the flexibility to meet a merchant’s needs across countertop, mobile portable and iPOS use cases. This will not only result in better in-store customer experiences, but also increase the efficiency of many countries’ payment systems – a competitive advantage for the business sector”, Hoel adds.
“Verifone is excited to partner with Retail Payment to provide a secure and flexible platform for payments and value added services. We will deliver a broad array of solutions with payment applications using our Commerce Platform to make both the merchant and consumer experience simpler and more engaging, without compromising security”, says Per Kristian Nauste, Vice President and General Manager, Verifone Nordic and Baltic Region.
The solution developed by Retail Payment was demonstrated at the Intel Event at Money2020 in Las Vegas.
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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 solutions with Retail Payments, 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 Retail Payment
Retail Payment is a Norway-based payment acceptance platform provider, introducing an open omni-channel platform making payments customer-friendly, secure and cost efficient. The company is owned by Coop Norge and NorgesGruppen, two of the largest retailers in the Nordics. The team of merchant customer also include leading Nordic retailers such as REMA 1000, Reitan Convenience, Umoe Restaurant Group, Moods of Norway and Varner. In total, the team handle the large majority of the card transactions in the Norwegian market.
Verifone is transforming everyday transactions into opportunities for connected commerce. We’re connecting 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 with approximately 29 million devices and terminals deployed worldwide. 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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