SAN JOSE, Calif. & SEOUL, South Korea--(BUSINESS WIRE)--Launching world-class retail payment innovations in South Korea where consumers are hyper-connected and tech-savvy, Verifone (NYSE: PAY), a world leader in payments and commerce solutions, announces the full market availability of the first two devices in the Verifone Engage family of payment solutions. Both have passed the mandatory and rigorous Korea Certification product inspection and meet Korea’s EMV standards.
Cash is shrinking in Korea where this traditional form of payment only accounts for 20 percent of all transactions. To support the steady trend leading to a cashless society, Verifone will enable Korean merchants of all sizes in the retail, food, and hospitality space with globally certified payment solutions and services. Merchants will be able to accept a variety of modern payment types, ensure advanced payment data security, and access services such as estate management and the Merchant Marketplace for third-party app capabilities.
“We are offering high quality, NFC-certified payment devices with convenient services designed for the Korean market where merchants are open to new and innovative payment solutions,” said Steve Aliferis, president of Verifone Asia Pacific. “With the introduction of Verifone Engage, we continue to be committed to implementing advanced payment innovations and services that meet the needs of merchants and their customers in Korea.”
For enhanced retail experiences instore, the Verifone P400 PIN pad provides faster checkout with an interactive user interface on a stunning touchscreen while the robust Verifone V200c countertop is a smart multitasker that’s affordable for small- to medium-sized businesses. Both EMV-ready products secure payments data with multi-layered encryption and tokenization, are fully compliant with PCI PTS 4.X security requirements, and support all major NFC contactless schemes.
Collaborating with processors, banks, and strategic partners, Verifone will bring unique commerce opportunities to the consumer experience with engaging multimedia and interactive commerce on high-end design at the point-of-sale. Through an open and flexible architecture, the Verifone Engage family offers the best of physical, mobile and online consumer interactions helping businesses drive meaningful relationships with real-time personalization such as loyalty programs, unique offers, and rewards.
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 Engage solutions in Korea, 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. We may also provide material information about us on our investor relations website at www.ir.verifone.com, in company press releases and in social media postings. 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.
Verifone is transforming every day transactions into new and engaging opportunities for merchants and consumers at the last inch of payments and commerce. Powered by a growing footprint of more than 30 million devices in more than 150 countries, our people are trusted experts working with the world’s best-known retail brands, financial institutions, and payment providers. Verifone is connecting more products to an integrated solutions platform to better meet the evolving needs of our clients and partners. Built on a 35-year history of uncompromised security, we are committed to consistently solving the most complex payment challenges.
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