Verifone (NYSE: PAY) today announced that its Payment as a Service
offering in North America—Verifone Point—is now available to
small-and-medium-sized businesses (SMBs) in the U.S. through Verifone’s
network of Independent Sales Organization (ISO) and acquirer partners.
In the U.S., the offering was previously only offered by Verifone
directly to large retailers.
ENHANCED SERVICES ACCESS AND FASTER EMV DEPLOYMENT
Verifone’s Payment as a Service bundles hardware, software, gateway and
support services into a single integrated solution that is built on
Verifone’s Secure Commerce Architecture (SCA) and can be customized by
ISOs and acquirers to provide everything their clients need for seamless
and secure payment acceptance and transaction management. Extending the
availability of Payment as a Service to ISOs and acquirers offers
Verifone’s partners a way to reduce operational costs and provide
merchants with ready access to current and future value-added services
while expediting the deployment of EMV-ready payment terminals.
“With more than 60 deployments with large retailers and POS solution
providers and integrators in the U.S. alone, our Payment as a Service
offering has quickly established a new model for reducing payment
complexity, speeding innovation and allowing merchants to focus on
growing their core business,” said Vincent Roland, senior vice president
of Payment as a Service for Verifone. “By making Payment as a Service
available through our channel partners, we help them provide a level of
value to their clients that is typically only associated with enterprise
retailers.”
SIMPLIFY AND “FUTURE-PROOF” PAYMENT SYSTEMS
With the EMV liability shift quickly approaching in the U.S., many
smaller merchants are unprepared for a transition to EMV and contactless
payments, including new mobile payment options such as Apple Pay, Google
Wallet and Samsung Pay. Another challenge facing merchants is the
ever-present threat of cybercriminals and payment data breaches.
Verifone’s North American Payment as a Service offering is bundled to
meet the needs of each ISO and acquirer, and can include payment
terminals, application software, breach insurance as well as gateway and
estate management SAQ services—enabling them to reduce payment
complexity for clients by providing:
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Reduced total cost of payment system ownership
-
Quick integration with EMV, NFC, mobile wallets and other emerging
payment technologies.
-
Estate management through which security and feature updates can be
downloaded sooner--removing the "guesswork” and complexity of managing
multiple payment methods and technologies.
For semi-integrated merchants, the offering also enables ISOs and
acquirers to decouple the POS from the flow of payment data, preventing
the data from being stolen at scale.
STREAMLINED EMV AND SECURITY COMPLIANCE
The potential financial penalties associated with the upcoming EMV
liability shift could impact even the smallest merchants as well as
their service providers. Verifone’s Payment as a Service offering vastly
reduces the scope, time and expense of compliance and recertification
management, while easing the integration of future new payment
technology. Payment as a Service uses Verifone’s SCA to connect
terminals directly to Verifone’s gateways or the processor host--making
it easier for acquirers and ISOs to meet PCI requirements and quickly
update terminal payment applications to comply with changes to card
brand-specific EMV requirements.
Payment as a Service also ensures that payment transaction data is
encrypted from the moment a card is submitted until it reaches
Verifone’s gateway or the merchant’s processor host.
INCREASED VALUE AT THE POINT OF SALE
By offering Verifone’s Payment as a Service, ISOs and acquirers can also
provide clients the ability to efficiently provide special promotions
and product offers through terminals at the POS—the types of incentives
that consumers increasingly expect for their loyalty.
SCA provides the ability for merchants to engage consumers with targeted
advertising, digital loyalty, coupons and product offers at the POS
through Verifone’s Commerce Enablement offerings. Verifone’s goal is to
enhance merchants’ ability to create more value for their customers, and
SCA will provide the foundation for Verifone’s Commerce Enablement
offerings, which will allow merchants to easily customize and
personalize their sales environment and provide consumers with value at
the POS.
LEARN MORE AT TRANSACT® 15
Visit Verifone (Booth# 1213) at the Electronic Transaction Association’s
(ETA) TRANSACT 15 to learn more about Payment as a Service and SCA.
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 as a service offering in North
America, market acceptance of our product and services offerings,
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
Verifone is transforming everyday transactions into opportunities for
connected commerce. We’re connecting more than 27 million 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. 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
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