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VeriFone UX Solutions First Payment Systems Certified for Interac Flash® 1.5 Requirements

PAY | September 25, 2014

VeriFone Systems, Inc. (NYSE: PAY), announced today that its UX Solutions series of unattended payment devices has achieved an industry-first certification to Canada’s first and only contactless debit payment solution, the Interac Flash 1.5 contactless payment specifications. MSC, a VeriFone distribution partner that provides solutions for the entire unattended market in Canada and the U.S., has selected devices within the UX series to support its next-generation EMV capable, PCI compliant unattended payments solution which will include support for Interac Flash transactions.

VeriFone UX Solutions First Payment Systems Certified for Interac Flash® 1.5 Requirements (Photo: Business Wire)

Interac products and services securely connect people to their money through Interac® Cash at the ABM, Interac Debit for point-of-sale purchases across Canada and at more than 2 million U.S. retailers through Cross Border Debit, Interac Online for web-based purchases, and Interac e-Transfer^® for person-to-person payments. Interac Flash, the secure contactless enhancement of Interac Debit, is in widespread use at retailers across Canada and provides the platform for mobile NFC proximity payments.

UX Solutions is a series of unattended payment devices from VeriFone that enables merchants to meet growing consumer demand for self-service transactions by providing customizable payment systems that securely increase transaction volume and speed and accept payments from mobile wallets, mag-stripe cards as well as contactless and contact-based EMV. The devices can be integrated with unattended solutions such as kiosks, vending machines, public transportation ticketing and other unattended, high-transaction-volume environments.

“UX Solutions are an ideal first implementation of the Interac Flash contactless payment system,” said Shan Ethridge, vice president and general manager, North America Financial Services Group, VeriFone. “And, based on its long-term relationship with VeriFone and its expertise in delivering unattended payment products, MSC is the ideal partner to introduce UX-based solutions to the North American market.”

“Secure unattended payments is a rapidly emerging segment in high demand and we are ready and eager to roll out UX-based solutions to continue meeting this demand across North America,” said Doug Hatton, Vice President of Payment Solutions for MSC.

The UX series provides for flexible configuration of self-service systems, as well as added benefits of field-upgradeability, tamper resistance and multiple connectivity options that meet the broad range of unattended payment requirements. UX Solutions fulfills the latest security standards, including PCI PTS 3.1 and EMV Levels 1 and 2, in addition to Interac Flash. Integrated LCD screens guide consumers through transactions and securely display payment amounts while providing merchants the ability to upsell through targeted messaging.

Devices within the UX series include the:

UX 100 PIN pad with integrated LCD screen
UX 110 PIN pad
UX 300 card insertion reader
UX 400 contactless/NFC acceptance unit

Additional Resources

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: the successful rollout of the VeriFone UX system solutions, 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 Interac Association and Acxsys Corporation (www.interac.ca)

A recognized world leader in debit card services, Interac Association is responsible for the development and operations of the Interac network, a national payment network that allows Canadians to access their money through Interac Cash at 60,000 Automated Banking Machines and Interac Debit at 766,000 point-of-sale terminals across Canada. Interac Flash, a secure contactless enhancement of Interac Debit, allows Canadians to pay for items instantly with their Interac chip debit card at a reader that supports Interac Flash.

Interac Association was founded in 1984 and is comprised of a diverse membership that includes banks, trust companies, credit unions, caisses populaires, merchants, and technology and payment related companies.

Other related services offered by Acxsys Corporation, whose shareholders are the architects of the Interac network, include: Interac Online, for secure online payments made directly from a bank account; Interac e-Transfer, for the transfer of money from one person's bank account to another person's bank account using an email address or mobile phone number; and international services, which provide Canadian cardholders with point-of-sale access at nearly 2 million U.S. retailers, and PULSE, Discover, Diners Club International and UnionPay cardholders access to ABMs in Canada.

Interac, Interac Flash and Interac e-Transfer are registered trade-marks of Interac Inc. Used under license.

About Moneris Services Corporation “MSC” (www.MSCservices.ca)

MSC is the leading provider of secure payment solutions and services to small and large customers across Canada including a number of leading Canadian acquirers, banks, solution providers, ISO’s, retailers and the gaming industry. Our value added services include EMV application development, hardware procurement, technical product support, secure key injection, merchant deployment, on-site service and secure product repair.

For more information contact POSsales@MSCservices.ca or call 1-800-948-9929.

About VeriFone Systems, Inc. (www.verifone.com)

VeriFone Systems, Inc. (“VeriFone”) (NYSE: PAY) is the global leader in secure electronic payment solutions. VeriFone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. VeriFone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.