February 14, 2011 02:00 AM Eastern Time
Key Interface Between Consumer Mobile Phones and Merchant Payment Acceptance
Mobile World Congress 2011
Booth #7MM22
BARCELONA, Spain--(BUSINESS WIRE)--VeriFone Systems, Inc. (NYSE: PAY), today announced that its NFC/contactless payment acceptance systems are a key interface between merchants and consumers’ mobile phones in Garanti Bank’s first-in-world rollout of a nationwide integrated NFC SIM mobile payment program.
“The merchant/consumer interface is crucial to success of NFC mobile payment adoption and VeriFone is thrilled to provide key payment acceptance solutions that make it easy to transition to this new era of mobile payments.”
Garanti and Turkish mobile network operator Avea recently moved from pilot phase to general commercial availability of their system to adapt existing mobile phones for NFC payments. Consumers can purchase and install NFC capable SIM cards that allow them to use their mobile phones for electronic payment at NFC/contactless acceptance devices in merchant locations. VeriFone has supplied 10,000 NFC-capable devices to Garanti for merchant use.
“Garanti demonstrated that NFC is now commercially viable,” said Soner Casur, vice president and general manager of VeriFone South East Europe. “The merchant/consumer interface is crucial to success of NFC mobile payment adoption and VeriFone is thrilled to provide key payment acceptance solutions that make it easy to transition to this new era of mobile payments.”
VeriFone is one of the main suppliers of payment solutions to Garanti, with more than 150,000 systems implemented throughout Turkey. For NFC mobile payments, VeriFone’s PINpad 1000SE currently provide merchants and consumers with a field-ready solution for implementation of mobile payments.
VeriFone systems have been in use for Garanti’s existing Bonus Trink contactless payment system, which has provided bank customers with the ability to make payments using a credit card, key fob, watch or the Bonus Trink contactless sticker. With the new add-on SIM card with antenna from Gemalto and Garanti pre-paid MasterCard PayPass that is loaded in the SIM manufacturing stage, consumers can immediately adapt existing and new mobiles for NFC mobile payments. This product is the first commercial add-on NFC SIM that supports open platform payment system around the world.
As a worldwide leader in payment solutions, VeriFone has forged a path for NFC acceptance. VeriFone’s VX Evolution line of products has revolutionized contactless payments by standardizing on NFC-ready capability that provides merchants and banks with migration to mobile payments.
Additional Resources:
www.verifone.com/mobile-commerce
www.verifone.com/mobile-commerce
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 NFC systems for mobile payment, 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.
Contacts
VeriFone Media Relations
Editorial Contact:
Peter Bartolik, +1-508-283-4112
pete_bartolik@verifone.com
Editorial Contact:
Peter Bartolik, +1-508-283-4112
pete_bartolik@verifone.com
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