Verifone (NYSE: PAY), a world leader in payments and commerce solutions, has brought top mobile technology providers, POS manufacturers and fuel marketers together at Conexxus to establish a new Mobile API standard. Verifone is the first to adopt and deploy this new standard, creating a more consumer-centric mobile commerce environment in gas stations and convenience stores—and at the pump—by allowing tightly coordinated interaction between mobile payment and loyalty applications.
Working with mobile payment early adopters to define a standard interface, Verifone was instrumental in creating an open API that all mobile payment providers and POS manufactures can implement. Verifone and its partners are now deploying open mobile payment solutions across a wide variety of applications including retail branded apps and direct ACH payment at the pump with community banks.
Frictionless mobile payment enabled by the latest Mobile API standard
"Verifone has consistently and heavily engaged with Conexxus to accelerate Mobile API standard adoption across our membership,” said Gray Taylor, Executive Director of Conexxus. This is a great example of how the manufacturing, service provider and retail communities came together within Conexxus to update a critical industry standard.”
By taking a collaborative approach to the new Conexxus Mobile Payment Standard, Verifone prevented the project from developing on a proprietary interface across a myriad of service providers that would result in little consumer adoption.
“Further proliferation of closed solutions would have added significant technology complexity and support costs for retailers, making it difficult for them to select and deploy mobile solutions that best suit their needs,” said Dan Yienger, Senior Vice President and General Manager of Verifone’s Global Petroleum business. Verifone’s commitment to simplifying and enabling commerce is why we collaborated with our peers and Conexxus to set Mobile API standards for the industry as a whole.”
Verifone enables gas station retailers to provide their customers with targeted discount offers and rewards
With a ubiquitous industry standard in place, consumers can take advantage of loyalty programs, discounts, and frequent shopper reward programs at multiple gas stations and c-stores using their smartphone.
Verifone was actively involved in driving this next phase of the Conexxus Mobile Standard, Mobile 2.0, that incorporates loyalty and mobile payments in the mobile commerce environment. The addition of loyalty to the mobile payment process increases the consumer value proposition and enables mobility payment providers to deliver highly customized and relevant offers that consumers are much more likely to redeem.
Visit booth 3431 at the NACS Show, October 19-21 in Atlanta, GA to demo Verifone’s innovative products and services designed for the petro and convenience store sector.
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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: 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.
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.
Verifone.com | (NYSE: PAY) | @verifone
Conexxus is a non-profit, member-driven technology organization dedicated to the development and implementation of standards, technologies innovation and advocacy for the convenience store and petroleum market. Conexxus membership collaborates on key present and future industry challenges and innovations. Our work efforts improve profitability by reducing the cost of IT ownership and improving the competitiveness of our members.