VeriFone Jumpstarts Merchant EMV Migration
VeriFone Systems, Inc. (NYSE: PAY) today announced certification of its EMV/NFC-enabled payment processing solution from Vantiv, Inc. (NYSE: VNTV), a leading provider of payment processing services and related technology solutions for merchants and financial institutions of all sizes in the U.S.
The two companies have cooperated on certification of the VeriFone Evolution payment platform for EMV payments. Each device in the VX Evolution family offers advanced technology capabilities including NFC, EMV, tighter security with PCI PTS 3.0, higher-level performance and the ultimate in reliability, all on the proven VX platform. With VeriFone’s ongoing EMV and security compliance services, merchants can rest assured in their ability to meet evolving requirements.
“With this release, Vantiv harnesses its integrated single point-of-entry platform with VeriFone’s cutting edge payment acceptance solution to deliver a new standard in merchant payment processing that delivers significantly better security, greater flexibility and importantly, the future adaptability needed to support EMV and mobile payments,” said Vantiv Chief Product Officer Bill Weingart.
Jim Oberman, managing director of NPC, a Vantiv company, added, “In order for our ISO channel partners to remain competitive, it is critical that their payment processor lead the market with payment products that change the merchant paradigm. Our products do that by giving merchants a way to grow and protect their customer, and securely facilitated whether the transaction is processed through a mobile wallet, a chip card or traditional mag stripe.”
Jennifer Miles, VeriFone executive vice president, North America, said, “Any merchant contemplating new or upgraded payment systems should opt for an EMV solution now to avoid the coming liability shift. Vantiv and VeriFone have collaborated to deliver the most sophisticated, robust and all-encompassing payment platform to ease the EMV migration for merchants of any size, in any environment.”
The VX Evolution family includes countertop, mobile and customer facing options for virtually any environment, with each system including built-in VeriShield Total Protect technology to support end-to-end encryption of card data.
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: customers’ acceptance and adoption of VeriFone’s EMV payment offerings and other new product and service 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 Vantiv, Inc.
Vantiv, Inc. (NYSE: VNTV), is a leading, integrated payment processor differentiated by a single, proprietary technology platform. Vantiv offers a comprehensive suite of traditional and innovative payment processing and technology solutions to merchants and financial institutions of all sizes in the U.S., enabling them to address their payment processing needs through a single provider. We build strong relationships with our customers, helping them become more efficient, more secure and more successful. Vantiv is the third largest merchant acquirer and the largest PIN debit acquirer based on number of transactions in the U.S. The company’s growth strategy includes expanding further into high growth payment segments, such as prepaid, ecommerce, mobile and information solutions, and attractive industry verticals, such as business-to-business, government, healthcare and education. For more information, visit www.vantiv.com.
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.
VeriFone Media Relations
Pete Bartolik, 508-283-4112
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