SAN JOSE, Calif.--(BUSINESS WIRE)--Verifone (NYSE: PAY) announced today that it will enable its North America payment devices to support all Mastercard EMV transactions, including contact and contactless. As a result, merchants will be able to provide customers with faster checkout and a wider range of EMV-secure payment options.
Supporting Mastercard contactless or tap-and-go payments will play a pivotal role in retail environments where speed and convenience are critical. Contactless technology has the potential to transform the way retailers engage with consumers at the point-of-sale or in the aisles.
“Mastercard believes in providing consumers and merchants with the fastest and safest ways to pay. Today, that means EMV contactless with higher transaction approval rates and enhanced security,” said Linda Kirkpatrick, executive vice president of merchants and acceptance, Mastercard. “We are delighted to work with Verifone to promote industry awareness on the benefits of contactless and expedite the availability and enablement of this technology in the marketplace.”
From mobile wallet acceptance and personalized content to NFC tags and beacons, contactless brings new opportunities for merchants to track, interact with, and reward customers; without compromising security or incurring additional risk. As contactless momentum builds, it will enable merchants to remain ahead of the pack, to reap the greatest rewards in terms of customer and brand loyalty.
“Most of the top U.S. retailers use Verifone payment solutions which enables us to drive scalable acceptance for contactless NFC,” said Richard Char, senior vice president, Business Development, Verifone. “Quicker transaction speed with enhanced payment security are ideal when lines are long and customers are ready to check out. Verifone is committed to working with Mastercard to support contactless NFC and make EMV adoption a superior experience for both merchants and consumers.”
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 implementation of Mastercard EMV contactless acceptance across our North America payment solution lines, 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. Verifone.com | (NYSE: PAY) | @verifone.