VeriFone Systems, Inc. (NYSE: pay), and PayPal, today announced a global license agreement, marketing and implementation as the progress of the PayPal acceptance large retailers nationwide.
Under the terms of the agreement announced today by VeriFone and PayPal, consumers will soon pay for purchases on large retailers by using a card to access PayPal and pine or enter a phone number and PIN on popular VeriFone systems as the MX 925 shown here. (Photo: Business Wire)
Customer of VeriFone covering 80% of the top 200 most important retailers in the United States, the agreement provides PayPal with unprecedented access to the points of high over a million of sales volume. Together, VeriFone and PayPal retailers offer the possibility of convergence e-commerce payments and retail sales in a new experience of purchase for consumers.
As retailers benefit from upgrading of software and services to VeriFone, shoppers will be able to use the existing payment methods PayPal Fund, including using a card to access PayPal and pine or enter a phone number and PIN. The VeriFone solution is future-proof so that the addition of new options, such as the NFC will be easy to implement as they become available.
"Basic technologies and strong a vast clientele of VeriFone are a natural ally for PayPal that we continue to deliver on our strategy to bring intelligent electronic payments and offers value added to brick and mortar stores" said Don Kingsborough, Vice President, retail and Prepaid Services, PayPal.
Initially, VeriFone will be "Digital portfolio" interfaces layer of PayPal and the user experience to select merchant sites at United States, alongside traditional forms of payment, the demand of consumers to this unique experience of payment. In the long term, VeriFone will allow PayPal acceptance natively in new services and solution offered to its global retail customers large packages.
"Retailers that take advantage of the extensions to VeriFone platforms will be able to offer their customers a rich environment that integrates the worlds physical and virtual retail," said Jennifer Miles, VeriFone executive vice president, North America. "By working to extend the scope of PayPal in traditional retail, VeriFone retailers in simple and immediate way to adopt and manage the new experiences of payment that consumers require."
Acceptance of PayPal will be initially implemented in the families of MX Solutions for VeriFone products popular with great traders.
Retailers can obtain additional information at the www.verifone.com/paypal
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995 for VeriFone Systems, Inc..
This news release contains certain forward-looking statements related VeriFone Systems, Inc. within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations of management VeriFone or beliefs and are subject to uncertainty and changes in circumstances. Actual results may differ materially those expressed or implied by the statements prospective herein due to changes in economic, business, competitive, technological or regulatory factors and other risks and uncertainties that affect the operation of the business to VeriFone Systems, Inc.. These risks and uncertainties include: setting up successful solution of acceptance of PayPal on payment systems VeriFone, the acceptance and adoption of our new offers of products and services, our ability to protect against fraud, the status of our relationship with and State of third parties on which we rely in the conduct of our business, our dependence on a number of client clientsthe uncertainties associated with the conduct of our business, our dependence on a limited number of key employees, short product cycles, changes in technologies and maintenance of the competitive position of leadership to our payment solution offers quickly. For a further list and description of these risks and uncertainties, see our deposits with the Securities and Exchange Commission, including our annual report on form 10-K and quarterly reports on form 10 - q. VeriFone is under no obligation to and declined specifically any obligation to update or alter its forward-looking statements because of new information, future events, changes in assumptions or otherwise.
About PayPal
PayPal is the faster, safer to pay and be paid online. The service allows people to send money without sharing financial information, with the ability to pay using their account balances, bank accounts, credit cards or promotional financing. PayPal allows 110 million of active accounts in 190 markets and 25 currencies of the world world trade. PayPal is an eBay company (NASDAQ: EBAY). PayPal is headquartered in San Jose, California, and its international headquarters is located in Singapore. Further information about the company to www.paypal.com is available.
On VeriFone Systems, Inc. (www.verifone.com)
VeriFone Systems, Inc. ("" VeriFone"") (NYSE: pay) is the world leader in electronic payment solutions secure. VeriFone provides expertise, solutions and services that add value at point of sale with payment systems operating merchant, oriented towards the consumer and self-service financial markets, retail, hospitality, petroleum, Government and vertical health. VeriFone solutions are designed to meet the needs of traders, processors and acquirers in developed and emerging economies around the world.
Photos/Multimedia?Gallery available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50289023&lang=en
VeriFone media relations
Pete Bartolik, 508-283-4112
pete_bartolik@VeriFone.com
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