Taxis and Gas Pumps are Ideal Venues for Digital Media-Enabled Lottery Ticket Sales and Printing
VeriFone Systems, Inc. (NYSE: PAY), today announced that it will deliver lottery sales through card payment acceptance systems in taxis and at fuel dispensers and other locations. VeriFone payment-enabled media systems provide consumer-interactive digital screens at which consumers will be able to select a lottery purchase, swipe or tap a debit card and get receipts from integrated printers while the actual lottery numbers are stored in user accounts in the cloud.
VeriFone has installed payment-enabled media systems in more than 14,000 taxis across the U.S. and is rolling out similar capabilities to fuel dispensers across the country as petroleum retailers upgrade their systems to comply with new payment card security requirements. Additionally, top multilane retailers throughout the U.S. utilize VeriFone systems, representing another market ripe for automated lottery sales.
"Convenience, speed and security are the three key elements that make payment systems in taxis, at fuel pumps and other VeriFone-enabled locations ideal venues for expanding access to lottery tickets," said Bud Waller, VeriFone vice chairman. "This is yet another transaction-based consumer experience that VeriFone is and will continue to bring to taxis and pumps everywhere, along with digital coupons, promotions and loyalty programs."
VeriFone will partner with Linq3, which has secured payments processing integration with many of the nation's leading payments and ATM processors, creating a nationwide network to securely process lottery transactions in all forty-four lottery sanctioned states. VeriFone expects to initiate a pilot in the near future.
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: successful rollout, market adoption and acceptance of lottery services on our taxi platform, 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 onForm 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.