PayLife to Upgrade or Replace Tens of Thousands of Payment Devices with VeriFone’s NFC-Ready VX 680 and VX 825 Systems
VeriFone Systems, Inc. (NYSE: PAY) today announced an agreement to provide PayLife, the Austrian market leader in cashless transactions, with the new VeriFone VX 680 wireless solution and VX 825 PIN acceptance system to upgrade or replace tens of thousands of installed systems. Within the current year, PayLife also will utilize several thousand VeriFone QX 1000 devices to provide immediate NFC/contactless in-place upgrades of existing devices.
A joint venture of major Austrian banks, PayLife provides card acceptance services to companies across the retail environment, the oil industry and the tourism and service sectors. PayLife plans over time to replace existing installed payment systems with the new VeriFone systems that feature integrated contactless with NFC support and are designed to meet the latest PCI PTS 3.0, ZKA, EMV and Austrian security requirements.
“VeriFone’s innovative, consumer-friendly payment solutions will meet our needs today and in future as we adapt to the fast evolving new era of NFC payments, including the very successful Austrian electronic purse, Quick.” said Robert Komatz, senior vice president of PayLife Bank.
The VX 825 features a high-resolution 3.5" color display that enhances branding opportunities and increases readability to provide an intuitive interaction point for consumers. The wireless VX 680 also features a 3.5” display and is built with durable components for long-lasting use, even in the most demanding mobile environments. The QX1000 is an advanced peripheral solution to provide existing payment devices with a seamless upgrade to contactless/NFC.
“We’re looking forward to working with PayLife to provide its merchants and their customers with the most advanced, easy-to-use payment systems available today,” said said Adam Biedrzycki, VeriFone vice president and general manager, Central Europe. “VeriFone systems will accommodate all the card types currently accepted today by PayLife and the mobile, digital wallets of tomorrow.”
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 our payment solutions with PayLife, customer acceptance and adoption of our new solution 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.
PayLife is the market leader and number one choice for cashless payments in Austria. PayLife is synonymous with convenient, simple and secure card payments as well as customer focus and Innovation. Whether payment card, POS Terminal, e-commerce or Quick, the Electronic Purse, PayLife offers individual and comprehensive products to meet all needs. With PayUnity, PayLife is the only provider for e-commerce and POS payments from one source. At home and abroad, PayLife offers its customers total solutions for POS terminals, online trading, prepaid and credit cards.
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.