SAN JOSE, Calif. & MUMBAI, India--(BUSINESS WIRE)--To meet the needs of the rapidly evolving and growing payments technology landscape in India, Verifone (NYSE: PAY), a world leader in payments and commerce solutions, and Ezetap, one of Asia’s most innovative software and payment processing players, announced a partnership to enable merchants to more quickly and easily adopt both instore and online payment acceptance.
The scope and scale of the collaboration will bring together Verifone’s best-in-class payment solutions and services, and Ezetap’s excellence in software and payment processing, to deliver simple and secure checkout experiences for merchants and their customers in any sector.
“The payments industry has undergone a global transformation in the last few years and India is on a fast track to match developed countries in terms of technology requirements and consumer demand," said Abhijit Bose, Chief Executive Officer, Ezetap. “The combination of Ezetap’s software capabilities and processing flexibility with Verifone’s range of payment solutions and services, will provide merchants with a one-stop, next-generation solution that can deliver differentiated experiences to their customers using customized software, real-time data, and value-added services."
“India is quickly evolving toward a cashless economy and we look forward to working with Ezetap to support merchants through this transition by enabling them to better serve their customers whether they are paying at an online merchant, at home for deliveries, or at their favorite department store,” said Vinayak Prasad, General Manager of South Asia, Verifone. “With Ezetap’s powerful gateway to all major banks in India, Verifone will be able accept a variety of payment types that will allow consumers to shop anywhere with their debit or credit card, mobile wallet, and even with the local Bharat QR scanner and mandated Aadhar-based biometric authentication.”
Further, the partnership will make it simple and convenient for businesses in India to leverage the highly secure range of Verifone payment solutions including the PCI 5.x-certified Engage solutions and Carbon family of integrated point-of-sale systems, in addition to all mobile point-of-sale solutions. Together, the companies will work to develop turn-key, end-to-end solutions that incorporate a variety of applications such as accounting, payroll, real-time inventory management, and loyalty.
Visit Verifone at Money20/20 Asia in Singapore to experience all its products and solutions. Ezetap CEO and co-founder, Abhijit Bose, will be with us at booth #B30 for a fireside chat. Join us for this session on Monday, March 13 from 12:00-12:30pm.
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: our ability to successfully collaborate with Ezetap to accelerate digital payment solutions, 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.
At Ezetap, veterans from payments, hardware, cloud and SaaS industries have joined hands for the sole purpose of ushering in a new era of a frictionless digital payment ecosystem in India. Ezetap has deployed over 200,000 smart service points on its platform with customers ranging from brick-and-mortar retailers, e-commerce players, leading enterprises, and financial inclusion organizations. Ezetap processes over US$1.5 billion annually and has been ranked twice in-a-row by CNBC in their Global Top 50 Disruptor List 2016 and 2017. The company has raised over $50 million in funding and its investors include Social Capital, the Silicon Valley firm led by former Facebook executive Chamath Palihapitiya, Helion Advisors, American Express, Li Ka-Shing’s Horizons Ventures, JS Capital (Jonathan Soros), Prime Venture Partners, and Capricorn Ventures (Jeff Skoll Group).
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.