Verifone (NYSE: PAY), a world leader in payments and commerce solutions, has partnered with Vesca, a leader in providing payment and marketing solutions as a service in Japan, to offer enhanced and secure payment services and solutions to merchants in the country. The partnership will bring together the technology portfolio and geographic strengths of the two companies, to enable financial institutions, retailers and various industry verticals to benefit from innovative payment solutions.
While a cash-based economy in which cards and other forms of payment amount to comparatively little volume, the local EMV liability shift deadline and the Olympic Games Tokyo coincide in 2020 giving Japanese merchants the opportunity to install the capability to accept multiple payment forms. To bring enhanced world payment standards to Japan, Vesca will offer the Verifone Engage V200c countertop and P400 PIN pad to provide increased speed and security, and an interactive user interface. These devices meet Japan’s EMV requirements and enable merchants to personalize the customer shopping experience with targeted offers and loyalty programs for additional revenue streams at the point of sale (POS).
“What matters most to Japanese merchants today is business growth and consumer loyalty,” said Thad Peterson, senior analyst at Aite Group. “Nations around the world are progressing towards becoming cashless economies, and it has become imperative for them to adopt the latest in technology that can best support this change and help businesses become more efficient. As Japan prepares for some major changes in the near years, Verifone, with its engaging payment solutions and value-added applications, is well suited to meet the needs of businesses across sectors and the country at large.”
“This partnership will bring end-to-end advanced payment services and solutions for Japanese merchants as well as in-depth market expertise,” said Mr. Makoto Yoshida, chief executive officer of Vesca. “Furthermore, we plan to create unique segment-specific features by collaborating with our extended ecosystem of clients and partners.”
Vesca will introduce the new Verifone solution which will include end-to-end payment services such as estate management, payment gateway and merchant consoles. With commerce-enabled devices from the Verifone Engage family, merchants in Japan will have the flexibility to accept Sony FeliCa™, the local contactless smartcard payment option, and a wide range of internationally accepted payment methods including card, payment apps and wallets.
“With Vesca as our strategic partner, we are offering Japanese merchants, particularly in dominant sectors such as retail, food and hospitality, access to the best technology solutions and services available,” said Steve Aliferis, president of Verifone Asia Pacific. “We are aligned on the goal to continue to spur the growth of new payment and commerce solutions that will enhance opportunities for merchants and experiences for consumers as Japan incorporates more cashless options.”
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 solutions in Japan, 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.
Vesca is the leading provider of payment and ID marketing solutions as a service. Vesca provides the secure and flexible payment management platform partnering with innovative companies worldwide, located in Tokyo, Japan.
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 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.
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