VeriFone Systems, Inc. (NYSE: PAY), today announced the PAYMEDIA Universal Acceptance Platform (UAP), a complete suite of services and software that enables Mobile Network Operators (MNOs) to manage mobile wallet acceptance at merchant systems.
PAYMEDIA UAP closes the loop between wallet providers and merchants, providing everything needed to deliver the benefits of advanced mobile payment, promotions and couponing applications to millions of consumers and merchants worldwide. PAYMEDIA UAP ensures that mobile wallet transactions of all types will be processed smoothly at merchants and allows wallet providers to greatly expand the variety of services and applications offered though their wallets and increase consumer stickiness of their apps.
“The missing element in MNO’s mobile wallet plans has been the lack of focus on how to provision, integrate and manage wallet and value-added acceptance apps at merchants’ systems,” said Paul Rasori, VeriFone senior vice president of marketing. “VeriFone's PAYMEDIA UAP bridges that gap in the NFC ecosystem by managing the complexities of mobile commerce acceptance and ensuring a seamless buying experience no matter what wallet, app or program consumers bring to stores.”
The PAYMEDIA UAP services and software enable MNO’s and wallet providers to easily download wallet acceptance applications directly to merchants’ point of sale systems and allows merchants to connect the app to the provider via the cloud-based PAYMEDIA Network Services. Utilizing the PAYMEDIA infrastructure, wallet providers maintain full management capabilities over their applications with the ability to update them at any time with new features and services managing every aspect of acceptance.
PAYMEDIA UAP includes the PAYMEDIA Network Services, Estate Management software, and the VeriFone NFC App Manager built into all VeriFone NFC acceptance platforms. In addition, the PAYMEDIA UAP platform provides open API common interface standards to ensure that value-added wallet data not traditionally supported will flow seamlessly through merchant systems without disruption.
PAYMEDIA Universal Acceptance Platform is a global service offering to MNO's and other wallet owners. For more information please visit http://www.verifone.com/uap
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: market adoption and acceptance of our PAYMEDIA universal acceptance platform, 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.