In-Vehicle Payment Card Acceptance and Digital Content System Available to London’s Licensed Taxis
SAN JOSE, Calif.--(BUSINESS WIRE)--VeriFone Systems, Inc. (NYSE: PAY), today announced that its taxi card payment and digital media solutions are now available in the UK. VeriFone is offering the system free to London’s licensed black cabs to modernize the taxi payments infrastructure and improve passenger journeys.
“We know what it takes to make card payments succeed in challenging environments. Uniquely, we can also deliver dynamic and interactive taxi-based media campaigns to advertisers seeking targeted, high-value alternatives to traditional outdoor and venue-based media channels.”
The VeriFone system has been approved for TX model taxis by Transport for London’s Taxi and Private Hire - the taxi licensing authority - and recruitment for drivers to use the system is underway. The system, which was initially available in a pilot program beginning in December and is now available for a wider release, integrates with taxi meters and allows drivers to easily accept credit, debit and contactless cards, while also streaming digital content to passengers.
VeriFone is also launching its VeriFone Entertainment Network to deliver compelling onboard media from leading broadcasters and advertisers. With the ability to deliver real-time media, the VeriFone system provides a new, highly targeted channel for advertisers.
VeriFone’s unique card payment system comprises a driver-side payment device with receipt printer, a fixed passenger-facing secure PIN entry device and a full color display screen for safety information, advertisements and streaming media. Card transactions are routed through VeriFone’s secure PAYware payment gateway and are settled to the driver’s account promptly three times per week.
“This is a total payment and media solution that enables black cab operators to enhance the customer experience with card payment options and access to a choice of multimedia content during their trips,” said Shaun Burger, VeriFone vice president & general manager, Northern Europe, Middle East and Africa. “We know what it takes to make card payments succeed in challenging environments. Uniquely, we can also deliver dynamic and interactive taxi-based media campaigns to advertisers seeking targeted, high-value alternatives to traditional outdoor and venue-based media channels.”
VeriFone has deployed transportation systems all around the world, from Istanbul to South Africa to New York City. In New York City, VeriFone’s taxi payment system is now deployed in 50% of taxis and VeriFone Media Solutions provide content to more than 90%.
Additional Resources:
www.verifone.com/uk-taxi
www.verifone.com/uk-taxi
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 VeriFone’s card payment and digital media solutions in the United Kingdom, 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.
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