[August 13, 2014] |
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Gilbarco and VeriFone Join Forces to Offer Payment Solutions and Services and Digital Media to Convenience and Fuel Retailers
GREENSBORO, N.C. & SAN JOSE, Calif. --(Business Wire)--
Gilbarco Veeder-Root, the worldwide leader in retail petroleum
technology, and VeriFone Systems, Inc. (NYSE: PAY), the global leader in
secure electronic payment solutions, today announced that they are
partnering to offer next generation forecourt payment solutions and to
create the largest at-pump interactive digital media network worldwide.
Gilbarco Veeder-Root and VeriFone are collaborating on fuel dispenser payment platforms and creating the largest at-pump interactive digital media network. The VeriFone Digital Network (VNET) will reach over 115 million consumers monthly through advanced pump dispensers like this. (Photo: Business Wire)
The two companies will collaborate on future fuel dispenser payment
platforms to be developed and supplied by VeriFone. The solutions will
meet convenience and fuel retailers' functionality and regulatory needs
in an increasingly complex payment ecosystem, as well as offer at-pump
media advertising and entertainment.
Gilbarco will become the software and solutions integration lead and
sales and service provider for forecourt payment systems developed under
the partnership. The companies will work together to transition the
payment electronics in Gilbarco's global dispenser product lines to
VeriFone technology. However, both companies will continue to develop
and market their point of sale systems for the petroleum and convenience
market independently.
In addition, Outcast Media, Gilbarco's forecourt media business, and
Applause TV, Gilbarco's gas station TV network, will be merged with
VeriFone's digital media and VeriFone Digital Network (VNET) businesses.
"VeriFone's partnership with Gilbarco, the world's leading dispenser
technology provider, is perfectly aligned with our terminal solutions
and commerce enablement strategies and will allow us to offer the best
payment and forecourt media solutions on the market to our clients
around the globe," said Paul Galant, CEO of VeriFone. "Our collective
expertise and access to consumer insights provide significant business
value to our clients, helping them increase sales at the pump and
in-store."
"Gilbarco's leadership in the convenience and petroleum vertical and
VeriFone's expertise in secure payments and media engagement make this
an ideal relationship," said Martin Gafinowitz, President of Gilbarco
Veeder-Root. "Gilbarco has the largest installed base of outdoor payment
systems in our industry, and combining our deep knowledge of systems and
software integration with VeriFone's broad payment expertise will
greatly benefit our customers."
Future of Payments at the Pump
With the EMV liability shift deadlines rapidly approaching, forecourt
payment system upgrades are an imperative for convenience stores to
avoid taking on liability for fraudulent payment card charges. Not only
do retailers' payment systems need to comply with EMV, but many will
elect to accept alternative payments as more consumers adopt new
services to pay with their smartphones. Globally, Gilbarco and VeriFone
have more EMV payment terminals in the field than any other industry
provider, with a substantial EMV-capable installed base in the U.S. and
terminals enabling EMV payment acceptance in Europe and Canada.
The VeriFone and Gilbarco partnership will create the industry's largest
and most powerful interactive digital media network. For consumer
packaged goods (CPG) marketers and brand advertisers, VNET today reaches
over 95 million monthly consumers within feet of a purchase decision.
Benefits for Convenience and Fuel Retailers
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Collaboration among two industry leaders to deliver a comprehensive
pump, media and payment offering, providing a richer platform to meet
increasingly complex payment technology needs
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Joint expertise that ensures ongoing compliance with EMV, appealing to
security-conscious consumers
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A combined offering from Gilbarco and VeriFone that simplifies the EMV
upgrade process through access to upgrade offerings across dispenser
platforms and delivers convenience and best-in-class security to
businesses and consumers
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Future-proof technology and reliable solutions capable of enabling
mobile payment, digital loyalty and more, and backed by the
industry-leading service and support network
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Higher levels of engagement and new forms of media and technology to
grow C-store sales and enhance a consumer's experience while fueling,
through better content relationships
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A platform that will soon enable smart targeting based on location and
consumer preferences
Benefits for Advertisers
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Reach over 115 million consumers monthly through VNET across multiple
venue types, including petrol forecourts and c-stores, as well as
transportation
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Increase brand awareness and inside sales by driving consumers from
the island into the store with timely, location-aware advertising and
offers at the pump and in store
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Tap into engaging and entertaining content curated for the on-the-go
audience
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Leverage advanced data and analytics intelligence for superior
targeting
About Gilbarco Veeder-Root
Gilbarco Veeder-Root is the worldwide technology leader for retail and
commercial fueling operations. They offer the broadest range of
integrated solutions from the forecourt to the convenience store and
head office. For almost 150 years, Gilbarco has earned the trust of its
customers by providing long-term partnership, uncompromising support and
proven reliability. Major product lines include: fuel dispensers, pump
media, point of sale systems, payment systems, tank gauges, software
development and integration, fleet management systems, and nozzles.
About VeriFone and VeriFone Media
VeriFone Systems, Inc. ("VeriFone") (NYSE: PAY) is the global leader in
secure electronic payment solutions and retail technology for petroleum.
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.
The VeriFone Digital Network (VNET) now spans more than 140 media
markets across the U.S. and the U.K., including all of the top 50 U.S.
media markets, providing one-to-one, interactive media engagement across
more than 50,000 screens in taxis, gas pumps, and convenience stores
around the world with the merger of Outcast Media.
More information about this partnership can be found at: http://www.bestofpayandpump.com.
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: the successful rollout of the VeriFone payment and media solutions
with Gilbarco, 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.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20140813005200/en/
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