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VeriFone Enables Delivery of Elavon Loyalty Solution at Point of Sale

USB, PAY | September 30, 2014

VeriFone Systems, Inc. (NYSE: PAY), and Elavon, a wholly owned subsidiary of U.S. Bancorp (NYSE: USB) and leading global payments provider, announced today that Elavon’s new Fanfare loyalty solution for small to mid-sized customers is now available on VeriFone’s countertop payment terminals and PIN pads—the VX 520 and VX 820.

Elavon's new Fanfare loyalty solution for small to mid-sized merchants is now available on VeriFone's countertop payment terminals and PIN pads - the VX 520 and VX 820. (Photo: Business Wire)

“Fanfare enables commerce for smaller customers by providing them with loyalty reward capabilities that are simple to use and manage,” said Guy Harris, Elavon’s President of North America. Verifone’s technology provides a terrific platform from which to target offers generated by Fanfare at the point-of-sale. Shoppers have come to expect this and we are delighted to deliver it.”

Fanfare empowers small to mid-sized customers to utilize a rich customer-facing loyalty solution at the point-of-sale (POS) from the convenience of VeriFone’s popular EMV and NFC-enabled countertop payment terminals and PIN pads—the VX 520 and VX 820. With the ability to manage and track points, promotions and couponing, among other features, Fanfare enables smaller customers to compete with large retailers by presenting targeted incentives and special offers that encourage and reward consumer loyalty.

“Elavon is focused on making it easy for customers to accept payments from consumers while also encouraging loyalty,” said Shan Ethridge, vice president and general manager, North America Financial Services Group, VeriFone. “Our terminals are familiar to customers and consumers alike and, when coupled with Fanfare, provide a user-friendly way for small customers to securely accept payments and enable commerce during the checkout process.”

The VX 520 and VX 820 integrate with Fanfare to provide a convenient way for customers to enroll in the program and track and redeem loyalty points at the POS. Consumers can also enroll in the program and track loyalty points through the Fanfare website.

A secure, turnkey loyalty solution, Fanfare automatically tracks loyalty points, rewards and offers—which can be redeemed at any time—eliminating the need for consumers to print coupons, carry a loyalty card or wait for credit card statements. Customers can use its customizable portal to create targeted offers based on stored consumer information—including purchase histories and birthdays—and track the success of their Fanfare loyalty program.

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 enablement of the Elavon loyalty solution with our payment devices, 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 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.

About Elavon (www.elavon.com):

Elavon is wholly owned by U.S. Bancorp (NYSE: USB) and provides end-to-end payment processing solutions and services to more than 1.3 million customers in the United States, Europe, Canada, Mexico, Brazil and Puerto Rico. As the #1 provider for airlines and a top five provider for hospitality, healthcare, retail, and public sector/education, Elavon’s innovative payment solutions are designed to solve pain points for businesses from small to enterprise-sized.