VeriFone Systems, Inc. (NYSE: PAY), and Hailo today announced the first integration of a 3rd-party e-hailing app with VeriFone’s open API cloud platform, making it possible for Hailo passengers to pay for their fares automatically on e-hailed trips in New York City.
Starting next week, drivers of VeriFone-equipped cabs who use Hailo will be able to provide passengers with ready access to an enhanced e-hailing experience. The VeriFone platform is currently powering VeriFone’s Way2ride mobile payments app and is already integrated into its in-taxi payments systems in more than 7,000 New York City yellow taxis and similarly equipped for-hire vehicles (FHVs) that are now being licensed to increase service to upper Manhattan and the outer boroughs.
“Soon, passengers will start to live the full Hailo experience – e-hail coupled with automatic payment for any Hailo trip,” said Tom Barr, president and COO of Hailo USA. “Thanks to our integration with VeriFone’s secure mobile commerce network, passengers will no longer need to fumble for their wallets and instead pay automatically and receive an emailed receipt.”
VeriFone is the platform of choice for secure transactions where commerce meets payments. The company’s open API cloud platform enables developers to easily create apps with payment, messaging and other value-added services leveraging VeriFone’s mobile commerce network. It is currently available to other taxi and sedan apps to provide a secure, simple-to-use standard for the unique needs of the taxi and for-hire vehicle industries. Future releases are planned for other vertical markets.
“Hailo’s work with VeriFone demonstrates that innovation and standardization can go hand-in-hand to revolutionize the taxi experience for both passengers and drivers,” said Amos Tamam, senior vice president of Taxi Systems for VeriFone. “As more and more developers look to create rich commerce apps in order to realize the full potential of mobility, VeriFone offers them a trusted software platform partner for easily incorporating secure payment and value-added services.”
"Opening the door to e-hail apps gave riders a new way to enjoy taxi travel," said TLC Commissioner David Yassky. "And this innovation adds yet another layer of convenience for passengers."
The integrated Hailo payment functionality will be available to New York taxi passengers next week.
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 of the integrated VeriFone-Hailo taxi solution, merchant 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.
People want to be in control of their lives so they can live the way they imagine. Hailo is a little bit of fightback against the forces of the universe that seem to always stand in the way you want things to play out - a perfectly synchronized state of flow where lights are always turning green just as you approach, where empty turnstiles usher you through an otherwise crowded station just in time to meet a train arriving at the platform, and where taxis seem drawn to you by a magnetic and mysterious force. Likewise, Hailo helps professional service providers “make more money, take fewer hours, and take nicer people” i.e. have more control over their livelihood and by extension their lives.
Hailo launched in 2011 in London and, within a year of operation has carried over five million passengers across ten cities. The Hailo network extends to New York, Dublin, Cork, Toronto, Chicago, Boston, Madrid, Barcelona, and Washington, D.C. - and coming next to Tokyo and Osaka.
Hailo has raised over $50M from the best investors anywhere, including Union Square Ventures (Twitter, Foursquare), Accel Partners (Facebook), Wellington Partners (Spotify), Atomico Ventures (led by a Skype founder) and Virgin head Sir Richard Branson.
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.