VeriFone Systems, Inc. (NYSE: PAY), announced today that the first U.S. lottery ticket sale at the fuel pump was printed at a Greater Minneapolis area convenience store and gas station in November. Lottery sales at the pump and other self-service locations represent a major untapped market segment for state lottery commissions across the U.S.
VeriFone and partner Linq3 have implemented “play at the pump” at 9 locations in Minneapolis under auspices of the Minnesota State Lottery. At gas pumps equipped with VeriFone’s payment enabled media solution, PAYMEDIA, consumers can buy quick pick numbers for Powerball and Mega Millions drawings utilizing debit card payments at the same time they fill up their tanks. The first sale was completed November 13 at the Gramsie Mart on Rice Street in Shoreview, Minn.
“We believe that play at the pump allows us to easily expand the distribution of lottery products and make the purchase of a ticket more convenient,” said Ed Van Petten, executive director of the Minnesota State Lottery. “This delivery method reaches a casual player who may want the convenience of making a lottery purchase while at these locations. It is a means for the Minnesota State Lottery to generate additional revenue for the state and its’ important beneficiaries. It will also provide additional revenue and media elements to help lottery retailers grow their business.”
PAYMEDIA for Secure PumpPAY delivers dynamic video and audio that informs and entertains consumers -- including promotions on lottery jackpots -- while ensuring secure, PCI- and EMV-compliant payments. Consumers are age-verified and enrolled in a quick process at the pump, which enables them to make debit card purchases of tickets whenever they pull up to a participating location. Winnings under $600 are automatically deposited to the debit card-linked account and consumers can check purchases on the web and sign up for mobile text notifications.
“Many consumers forget to play the lottery or just simply don’t have the time to make an extra stop, so VeriFone’s media solution makes it easy for them to play,” said Jennifer Miles, executive vice president, VeriFone North America.
VeriFone’s payment-enabled solutions for gas pumps, taxis and other point of sale locations represent an opportunity for lotteries to expand sales channels in new and innovative ways. Linq3 has forged secured payments processing integration with many of the nations leading payments and ATM processors, creating a nationwide network to securely process lottery transactions.
“Linq3 enables lotteries to efficiently reach a greater market as well as generate more sales and more revenue for their designated beneficiaries,” said Daniel Cage, CEO of Linq3. “Working with VeriFone we’re making it easier for consumers to play their favorite games during shopping transactions.”
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: our ability to successfully roll out lottery solutions on our PAYMEDIA platform, 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.
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.