VeriFone Systems, Inc. (NYSE: PAY), today announced the availability of SAIL EMV, a new platform that enables banks and acquirers around the world to quickly provide smartphone and tablet-based chip-and-PIN card payments solutions to small and medium-sized merchants.
SAIL EMV provides banks and acquirers in more than 100 countries and across six continents with a complete solution to expand their product portfolios with custom-branded services that enable mobile merchants to accept chip-and-PIN payments.
The VeriFone solution includes innovative, cost-effective payment adapters designed to meet strict industry security requirements; mobile phone SDK’s for easy integration with iOS and Android mobile platforms; and a secure transaction management system leveraging VeriFone’s Point Gateway payment-as-a-service global infrastructure.
SAIL EMV adds to VeriFone’s suite of chip-and-PIN enabled smartphone and tablet solutions, including PAYware Mobile Enterprise hardware and VeriFone GlobalBay mobile software that is already being deployed globally with larger retailers. With Point Gateway services, merchants can utilize the VeriFone portfolio to empower multi-channel strategies spanning traditional retail, mobile retail and e-commerce.
“International deployment of the SAIL platform provides a unique mobile payments solution that enables rapid expansion and adoption of secure chip-and-PIN technology through thousands of VeriFone’s international banking and acquiring partners,” said VeriFone CEO Douglas G. Bergeron. “The open, flexible and modular nature of SAIL EMV is attractive to organizations that want to expand sales with smartphone and tablet payment solutions for small merchants.”
More than just a secure hardware solution, SAIL EMV contains all of the building blocks that banks and processors need to build a custom branded experience. Utilizing the proven Point Gateway, transactions are quickly and efficiently managed, and users are presented with powerful tools to help analyze and grow their business. For the hundreds of thousands of merchants already utilizing the Point Gateway worldwide, the addition of SAIL EMV provides a powerful mobile add-on solution.
“The decision to launch our mobile solution with VeriFone was easy,” said Dov Kotler, CEO of Isracard in Tel Aviv, one of several organizations already offering or developing SAIL-based services. “No other player provides an equivalent range of solutions, spanning from the largest merchant to the smallest. We’re confident that our partnership with VeriFone will keep us ahead of the competition.”
Miguel Angel Balcazar, vice president of business development with Mexico City-based PROSA, said, “With SAIL, VeriFone has developed a complete open platform that makes it easy for us to provide our member banks with the ability to service the growing mobile payment needs of their customers.”
In Stockholm, Erik Cyrus, Head of Group Cards at Swedbank said, “Reducing cash throughout society is highly prioritized for Swedbank and there is a great need for solutions that enable also the smallest merchants to get paid electronically, we clearly see that the smartphone is an important part of the future payment infrastructure. Going towards this, open solutions and security becomes very important.”
Jean Ochse, Head Acquiring, Standard Bank South Africa, Johannesburg, said, “Merchants are eager for a complete integrated mobile payments solution and VeriFone’s SAIL provides us with the ability to develop and deliver customized services locally that leverage VeriFone’s worldwide expertise.”
The universal SAIL EMV reader connects to a smartphone or tablet via the audio jack and enables merchants to accept both chip-and-PIN and magnetic stripe cards using a standard app. SAIL EMV is designed to meet all industry security standards, including EMV Level 1 and EMV Level 2, PCI PTS 3.0, SRED, PA DSS and PCI DSS. In addition, it provides end-to-end encryption of all card data, ensuring sensitive information is never exposed while inside an insecure smartphone or tablet.
The SAIL platform is currently in production in multiple countries, and VeriFone is working with development partners in various geographies towards additional deployments in Q1 of 2013.
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: the successful rollout of the SAIL EMV solution, 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.