Verifone (NYSE: PAY) today announced the expansion of its partnership with Microsoft that provides comprehensive Payment-as-a-Service for Microsoft Dynamics 365 clients. Availability of Verifone Point, a Payment-as-a-Service (PaaS) solution, will now extend to Microsoft Dynamics 365 users internationally beginning with Canada. Together, the industry leaders commit to providing merchants-of-all-sizes worldwide with simplified, reliable and secure payment and commerce solutions that improve the consumer experience at the point-of-sale (POS).
To keep pace with today’s rapidly changing payment landscape, businesses often find themselves managing multiple technology vendors, payment device deployments and EMV certification with processors, compliance with ever-changing PCI standards and payment security. Now, merchants and retailers using Microsoft Dynamics 365 all over the world can overcome payment complexity with the Verifone Point PaaS offering, which bundles payment hardware, software, and support services into a single integrated solution.
“Partnering with Microsoft Dynamics, we look forward to helping a greater number of retailers focus on their business and better serving customers instead of putting precious time and resources into managing their payment systems ,” said Joe Mach, President of Verifone North America.
“Over the last 12 months, our partnership with Verifone has helped simplify the standards and requirements that make managing payments so complex for merchants,” said Balaji Balasubramanian, Principal Group Program Manager at Microsoft Corp. “We are delighted to expand this partnership to our international users and enable them to grow their business, improve the customer experience, and adopt a single, secure payment solution that is in sync with industry standards and requirements.”
As a key benefit for many merchants, Verifone Point will include enhanced cardholder data protection through Secure Commerce Architecture (SCA) and end-to-end encryption. SCA prevents sensitive payment information from entering electronic cash registers, which cybercriminals often infect with malware to steal cardholder data. And, with end-to-end encryption, the data is useless to cybercriminals because it is encrypted.
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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 new M400 solution, 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 35-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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