NEW YORK--(BUSINESS WIRE)--VeriFone Systems, Inc. (NYSE: PAY), today formally unveiled the next evolution of media at gas stations, providing advertisers and marketers with new promotional capabilities including on-demand coupons at the pump and transaction-specific promotions at the c-store checkout counter.
Couponing is the newest addition to the VeriFone Digital Network (VNET), further enhancing its ability to deliver digital media to consumers where they are most attentive – at the point of payment. After a successful 12-month pilot, where coupon redemption rates in excess of 10% far exceeded industry norms for freestanding inserts, VeriFone is rolling out couponing to its PAYMEDIA customers.
“Couponing at the pump, combined with targeted offers at checkout, has the ability to drive a significant increase in C-Store sales,” said Tom Robinson, president of Robinson Oil, a privately held company based in Santa Clara, Calif. An initial PAYMEDIA pilot company keenly interested in couponing, Robinson Oil is now implementing VNET at all of its 34 Rotten Robbie retail locations in Northern California.
Robinson Oil is also implementing VeriFone Media’s LiftRetail technology that allows marketers to target cross-sell and upsell messaging to consumers at checkout based on real-time analysis of the items they are purchasing. “We’re eager to use digital media to entertain and inform our customers while offering incentives that spur them to action,” said Robinson, who is also current chairman of the National Association of Convenience Stores (NACS).
Two cutting-edge media networks, VNET | At the Pump and VNET | In Store are being demonstrated along with other VeriFone payment-enabled media solutions here this week at Advertising Week Experience and also next week at NACS Show 2012 (Booth 3361) in Las Vegas.
As part of the turnkey PAYMEDIA solution for gas station owners, VNET delivers short-form video and digital coupons to eye-level, in-pump displays, engaging consumers actively involved in a purchase. It's an ideal environment to move consumers inside the convenience store to redeem special offers, build general awareness or to drive traffic around key locations with highly localized messaging.
“With VNET, advertisers engage a captive audience with one-to-one marketing,” said Jennifer Miles, VeriFone executive vice president, North America. “They are able to leverage an incredible array of targeted solutions, from dayparting and geotargeting at the pump, all the way down to the consumer loyalty ID or the individual SKU of the product they are purchasing – all in real-time.”
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: our ability to successfully rollout our next generation media solutions, customer acceptance and adoption of our media offerings, 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.
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.