SAN JOSE, Calif.--(BUSINESS WIRE)--VeriFone Systems, Inc. (NYSE: PAY), today announced it has been selected by First Data Corporation as the exclusive provider of Class A Point-of-Sale (POS) payment acceptance systems in the Caribbean region.
First Data is partnering with VeriFone to develop applications for VeriFone’s Vx Solutions and VX Evolution countertop, wireless and PIN entry systems. First Data intends to expand its product offering to include the most advanced payment system hardware and software technology throughout the region with a strong focus on security and authentication for Caribbean businesses.
“We selected VeriFone as our exclusive POS product offering in this region as their devices go beyond traditional magnetic stripe transactions by providing advanced EMV card processing, which increases a merchant’s security and authentication measures to help reduce fraud,” said Phil Steurer, SVP, Central America and Caribbean, First Data. “With Vx Solutions and VX Evolution, VeriFone is providing market-ready and fully compliant payment processing solutions that will provide our Caribbean customers with the most advanced technology available to the marketplace.”
“This is an exciting opportunity for VeriFone to work with First Data in expanding its offering with payment systems that meet and exceed the latest data security requirements,” said Fernando Lopez, VeriFone executive vice president, Latin America and The Caribbean. “VeriFone supports the advancement of newer payment acceptance capabilities and we’re eager to bring our cutting edge solutions to the region.”
VeriFone has deployed payment systems worldwide for many years and has worked with banks and merchants worldwide to implement the necessary systems. The systems will support EMV credit and debit cards which utilize a smart card chip that has its own data storage, processing power and application software to provide much higher levels of security than magnetic stripe cards.
About First Data
Around the world, every second of every day, First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data leverages its vast product portfolio and expertise to drive customer revenue and profitability. Whether the choice of payment is by debit or credit card, gift card, check or mobile phone, online or at the checkout counter, First Data takes every opportunity to go beyond the transaction.
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.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for VeriFone Systems, Inc.
This press release includes certain forward-looking statements related to VeriFone Systems, Inc., within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on VeriFone management’s current expectations or beliefs 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. These risks and uncertainties include: the successful rollout of our POS solutions to First Data customers in the Caribbean region, our ability to protect against fraud, the status of our relationship with and condition of third parties upon whom we rely in the conduct of our business, our dependence on a limited number of customers, uncertainties related to the conduct of our business internationally, our dependence on a limited number of key employees, short product cycles, rapidly changing technologies and maintaining competitive leadership position with respect to our payment solution offerings. For a further list and description of such risks and uncertainties, 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. 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.