Verifone (NYSE: PAY) today announced that its comprehensive payment services solution, Verifone Point Classic, has been integrated with Revel Systems’ leading iPad Point of Sale (POS) to simplify EMV acceptance and payment management for merchants.
Payments have become remarkably complex for merchants and POS providers in light of the EMV migration, as well as new certification requirements, ongoing PCI changes and data security threats. Managing such complexity can be very costly for merchants and software providers in terms of time and resources.
PARTNERING FOR ENHANCED PAYMENTS
By seamlessly integrating with Verifone Point Classic, Revel allows its clients the choice to have their payment systems managed by Verifone, the world’s leader in payments and commerce solutions. Combining world-class hardware and services into a flexible and robust managed services suite, the capabilities of Verifone’s solution grow in lockstep with the market, ensuring that partners and merchants have access to the latest technologies in payment, loyalty, and rewards, as well as support for the latest standards and regulatory compliance.
Through Verifone’s payment management solution, Revel is able to:
- Focus on further innovating its quick, intuitive, and secure iPad Point of Sale solution
- Provide its clients with faster access to payment innovation, such as mobile wallets and loyalty programs
- Reduce PCI scope and simplify EMV adoption for its clients while eliminating the need for re-certification as payment industry requirements change
“Revel is a platform designed to offer clients a seamless customer experience, and having a payment component that will simplify our clients’ lives is important to us,” said Lisa Falzone, co-founder and CEO of Revel. “Verifone has more than 30-years of payments expertise and a worldwide team of payments specialists that will provide our clients with the most secure and technologically advanced payments capabilities. With this integration, we are continuing our mission to help business operators and entrepreneurs create the business of their dreams.”
SIMPLIFYING AND SECURING THE PAYMENT PROCESS
Secure Commerce Architecture (SCA) is the foundation of Verifone’s payment services, which decouples sensitive payment data from the electronic cash register, or “ECR.” Payment data is protected by Verifone’s end-to-end encryption and tokenization and is securely relayed from the payment device directly to Verifone’s secure gateway or the merchant’s processor. This not only enhances security, but also simplifies compliance with PCI and other changing industry requirements.
BUILD ONCE. PORT MULTIPLE.
Verifone is able to continually update its software through its host system, so Revel clients can enjoy new payment enhancements and innovation without the need to update or re-certify their POS software.
“Managing payments can easily overwhelm merchants, ISV’s and resellers,” said Shan Ethridge, vice president and general manager, North America Financial Services Group, Verifone. “The integration of Verifone’s services with Revel’s iPad Point of Sale demonstrates how simple payments can be when merchants team with a leader in payments and a leader in business solutions through a single offering. Now, Revel can focus on building additional features for its clients and further enhancing its iPad Point of Sale solution, while Verifone takes care of the heavy lifting in the payments area.”
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 integration of the Verifone Point Classic solution with Revel, 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 Revel Systems
Revel Systems iPad POS was founded in 2010 in San Francisco with the goal of changing the Point of Sale market. Founders Lisa Falzone and Christopher Ciabarra developed a quick, intuitive and secure iOS-based Point of Sale system by combining cloud-based technology and the mobility of the Apple iPad. Revel Systems software offers a feature-rich POS solution for restaurant, retail and enterprises with integrated payroll, inventory tracking, customer relationship management and more. With the introduction of the Revel Marketplace, Revel iPad POS System users can now integrate directly into third-party enhancements, including mobile payments, online ordering, gift or reward cards and advanced financial software suites. For more information on the new standard in Point of Sale, please visit http://revelsystems.com/
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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