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iPayment Partners with VeriFone to Bring Next Generation POS to Main Street Merchants

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 mag-stripe.

“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.”

Additional Resources

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 worldwide.

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