VeriFone Systems (PAY), Worldpay Enter Extended Partnership

November 28, 2016 6:20 AM EST

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Verifone (NYSE: PAY) has announced a partnership extension with Worldpay, a leading payments company with global reach. The agreement will see continued delivery of Verifone’s payment and commerce innovation to Worldpay’s UK customers enabling them to offer the latest point-of-sale (POS) solutions, and creating a seamless payments experience.

This extended partnership builds on Verifone and Worldpay’s long-standing collaboration. It will also expand Worldpay’s current deployment of Verifone products, which are already used by thousands of businesses across the U.K. Under the agreement, Worldpay will work with Verifone to bring new POS technology to the market such as the VX690 portable device, a flexible solution that enables Wifi, GPRS and 3G-enabled connectivity. The VX690’s ability to roll over between Wifi, GPRS and 3G ensures constant connectivity for merchants and its larger, clearer screen allows for a better presentation for value-added services.

Verifone’s solutions are capable of accepting a variety of payment methods including recent innovations such as Apple Pay, Android Pay and Samsung Pay, giving consumers a frictionless POS experience. Worldpay and Verifone will also be working together to bring P2PE compliant solutions to U.K. retailers and deliver new multi-communication devices to customers.

June Felix, President Verifone Europe said: “We are delighted to be strengthening our partnership with Worldpay. Verifone is perfectly positioned to help Worldpay assist their clients in growing their businesses. We are truly excited to work with Worldpay to drive greater value and a richer in-store experience to consumers. The 3-in-1 capabilities offered by the VX690 solution reduces the complexity and cost of handling three separate products that are needed today. ”

Dave Hobday, Managing Director, Worldpay U.K. said: “Worldpay’s aim is to help our customers grow by offering them reliable and secure ways to accept payments across all channels. We are pleased to be extending our partnership with Verifone, enabling our customers to access the very latest POS solutions, enabling them to sell more.”

“Providing our customers with the most secure and seamless payment technology is at the heart of our strategy. Becoming the first acquirer to offer a PCI P2PE Version 2 listing for our Worldpay Total omni-channel solution which will soon include Verifone’s VX820 device has been a key focus for the business. By working closely with partners like Verifone we aim to provide retailers with best-in-class security whilst relieving the burden of compliance.”

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for VeriFone Systems, Inc.

This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs and on currently available competitive, financial and economic data 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., including many factors beyond our control. These risks and uncertainties include, but are not limited to, those associated with: successful execution of our partnership with Worldpay, execution of our strategic plan and business initiatives and whether the expected benefits of our plan and initiatives are achieved, short product cycles and rapidly changing technologies, our ability to maintain competitive leadership position with respect to our payment solution offerings, our assumptions, judgments and estimates regarding the impact on our business of the continued uncertainty in the global economic environment and financial markets, our ability to successfully integrate acquired businesses into our business and operations, our ability to protect against fraud, the status of our relationship with and condition of third parties such as our contract manufacturers, distributors and key suppliers upon whom we rely in the conduct of our business, our dependence on a limited number of customers, the conduct of our business and operations internationally, our ability to effectively hedge our exposure to foreign currency exchange rate fluctuations, and our dependence on a limited number of key employees. For a further list and description of the risks and uncertainties affecting the operations of our business, 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. The forward-looking statements speak only as of the date such statements are made. 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.



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