Strategic Partnership with Gemalto Completes PAYware Merchant Managed Service Footprint
PARIS--(BUSINESS WIRE)--VeriFone Systems, Inc. (NYSE: PAY) today announced its PAYware Merchant managed service is now available across Europe. The recently announced strategic partnership with Gemalto completes VeriFone’s pan-European sales and distribution network and makes a continental payment gateway service feasible.
“The Gemalto partnership fills out our pan-European distribution network”
PAYware Merchant is a bank-certified, hosted payment solution for large retailers, fuel organisations and hospitality companies. The world-class, PCI DSS-compliant payments platform integrates with virtually any front-end POS system and provides a cost-effective outsourced payments service that relieves merchants from associated capital expenditures, on-going maintenance, investment and resourcing.
“The Gemalto partnership fills out our pan-European distribution network,” said Shaun Burger, VeriFone vice president and general manager for Northern Europe, Middle East and Africa. “We are now well positioned to execute our European expansion strategy regardless of whether our offer to acquire Hypercom is completed.”
VeriFone on September 29 disclosed that it had made a proposal to the board of directors of Hypercom to acquire all of the outstanding shares of Hypercom for $5.25 per share in cash. Subsequently, on October 20, it announced a comprehensive strategic partnership with Gemalto including exclusive discussions for VeriFone to acquire Gemalto’s POS solutions business.
The PAYware Merchant managed service provides companies with a new way to manage the entire payments process more effectively. In particular, it minimizes the cost and effort they are currently required to expend on PCI compliance.
“Rather than retrofit legacy POS systems to ever-changing PCI compliance, companies can now leverage VeriFone’s expertise and ongoing investment in payments security and through PAYware Merchant gain a flexible platform that provides comprehensive reporting and monitoring tools,” Burger said.
Additional Resources: http://www.verifone.com/pmms
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: the successful rollout of the VeriFone pan European gateway services, the successful completion of the acquisition of the Gemalto POS business, customers’ acceptance and adoption of VeriFone’s new security solutions 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 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.