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iPayment Partners with VeriFone to Bring Next Generation POS to Main Street Merchants
|By Business Wire
|May 27, 2014 08:26 AM EDT
VeriFone Systems, Inc. (NYSE: PAY), and iPayment, Inc., today announced
a complete tablet point of sale solution. iPayment POS is designed for
the more than 150,000 small business merchants iPayment currently serves
directly, through independent sales organizations (ISOs) and other
multiple direct distribution channels throughout the U.S.
“We evaluated all the tablet POS offerings on the market and it became
abundantly clear that VeriFone has a superior product backed by
market-leading expertise and deep support capabilities that would best
serve our customers,” said Carl Grimstad, iPayment’s president and chief
executive officer. “The small business merchants we specialize in are
eager to realize the benefits of a tablet POS solution, but want
reliable providers they can depend on.”
“VeriFone is impressed with the innovative technology and tools iPayment
provides to small and medium sized merchants; they have been
instrumental in customizing this solution to address the needs of the
marketplace,” said Shan Ethridge, vice president and general manager,
North America Financial Services Group, VeriFone. “The new iPayment POS
solution provides small business owners with advanced capabilities and
business acumen previously only available to larger merchants.”
iPayment, an industry leader and partner to small and medium sized
business owners across the United States, is proud to announce iPayment
POS as the next step in business strategy for their customer base.
iPayment POS is a turnkey iOS app-based solution that is incredibly easy
to install, affordable, and simple to use. This solution is a
combination of VeriFone’s industry leading GlobalBay Merchant technology
and other iPayment proprietary solutions. The bundle includes the
iPayment POS software, an iPad, cash drawer, bar code scanner, stand and
printer, as well as a VeriFone PAYware Mobile e100 secure audio reader
or the VX 805 PIN Pad.
The solution utilizes secure encryption for payment processing and
provides a suite of business tools that empower small merchants with
capabilities formerly enjoyed only by larger retailers, such as
inventory management, service and appointment scheduling, business
analytics, customer management, built-in loyalty, and marketing
campaigns. Merchants don’t have to worry about emerging payment options,
as the VX 805 PIN pad is able to support NFC, EMV, PIN/Debit, and
“Tablet point of sale is ready to move from the early adopter phase to
the mainstream market of small business merchants,” said Ethridge. “But
smaller merchants want innovation from providers they can depend on for
years to come and that can address their concerns directly. With
iPayment POS, main street merchants get a turnkey solution that
leverages iPayment’s superior merchant distribution and service
capabilities along with VeriFone’s resources and proven technology.”
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: the successful rollout of the VeriFone mPOS solution, 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. 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.
About iPayment, Inc. (www.ipaymentinc.com)
iPayment provides credit and debit card payment processing services to
small merchants across the United States. iPayment's payment processing
services enable merchants to accept credit cards from VISA, MasterCard,
American Express, Discover and Diners Club, as well as other forms of
payment, including debit cards, checks, gift cards and loyalty programs.
iPayment provides payment processing services to approximately 150,000
merchants throughout the United States.
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
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