In an era where connected commerce technologies are transforming consumer behavior, research shows the next several years will see small- to medium-sized businesses (SMBs) increasing adoption of new commerce software and technologies. To help SMBs keep pace and win in the face of this transformation, Verifone (NYSE: PAY) and Vantiv, Inc. (NYSE: VNTV) today announced an agreement to bring the Verifone Carbon Commerce Platform to market in the United States as a key feature of the Vantiv SmartFit Solutions™.
“We found that businesses want smarter, more secure technology to provide advanced payments, create loyalty and grow their business. Verifone Carbon with Vantiv SmartFit Solutions is designed to do that, fitting the needs of small and medium-sized businesses,” said Patty Walters, senior leader of Security, PCI, EMV and Terminals at Vantiv.
The Vantiv SmartFit Solutions is a flexible, proprietary approach to providing SMBs with a customized solution for payment processing and adaptable applications that meet their unique needs as their business grows. Verifone Carbon will be loaded with Vantiv’s tablet-based payments system for retailers and restaurants. Working with partner iMobile3, a leading provider in point of sale and commerce software, Verifone Carbon includes order and inventory management, tools for online analytics and reporting, and a gift card program, all features that most SMBs desire but often can’t afford.
“SMBs are in need of open, agile and intelligent solutions that can help them adapt to change,” said Jordan McKee, senior analyst, 451 Research. “These solutions must address key organizational challenges, such as controlling costs and generating customer loyalty, while accommodating the influx of new consumer technologies such as digital wallets.”
Later this year dozens of businesses across the U.S. will begin piloting their own customized Verifone Carbon. Each business will receive a system designed for their unique needs, with security, support, versatile payment acceptance, and tailored value-added solutions including the freedom to choose applications to manage their business and increase customer engagement.
Designed as a portable countertop with dedicated merchant and consumer facing tablets for optimal business management and consumer engagement, Verifone Carbon is powered by Intel’s high-speed chipset for fast processing to run Vantiv’s proprietary software and third party applications. Verifone’s Commerce Platform enables open, cloud-based and secure solutions. Merchants will be able to access a variety of applications from the worldwide developer community, to manage and grow their business, and reward their best customers.
In this pilot, pre-loaded apps will include TruRating, an innovative solution that takes the pulse of consumer sentiment via the Carbon device, asking customers to anonymously rate an aspect of their consumer experience on the touchscreen, and Verifone Media App for displaying promos and branded content on the consumer-facing tablet, all in real time.
“Which point of sale to buy is a critically important decision for merchants and their service providers to meet changing consumer expectations,” said Jennifer Miles, president, Verifone North America. “By offering Vantiv’s SmartFit solutions on Verifone’s Commerce Platform, Vantiv will enable merchants to drive more stickiness and loyalty, and provide consumers with experiences that are engaging, efficient and relevant to their connected world.”
Verifone Carbon will be on display at Money20/20, October 23-27 in Las Vegas.
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 rollout of our Verifone Carbon product offering with Vantiv, 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.
Vantiv, Inc. (NYSE: VNTV) is a leading payment processor differentiated by an integrated technology platform. Vantiv offers a comprehensive suite of traditional and innovative payment processing and technology solutions to merchants and financial institutions of all sizes, enabling them to address their payment processing needs through a single provider. We build strong relationships with our customers, helping them become more efficient, more secure and more successful. Vantiv is the second largest merchant acquirer and the largest PIN debit acquirer based on number of transactions in the U.S. The company's growth strategy includes expanding further into high-growth channels and verticals, including integrated payments, eCommerce, and merchant bank. Visit us at the new www.vantiv.com, or follow us on Twitter, Facebook, LinkedIn, Google+ and YouTube.
Verifone is transforming everyday transactions into opportunities for connected commerce. We’re connecting payment devices to the cloud, merging the online and in-store shopping experience and creating the next generation of digital engagement between merchants and consumers. We are built on a 30-year history of uncompromised security with approximately 29 million devices and terminals deployed worldwide. Our people are known as trusted experts that work with our clients and partners, helping to solve their most complex payments challenges. We have clients and partners in more than 150 countries, including the world’s best-known retail brands, financial institutions and payment providers.
Verifone.com | (NYSE: PAY) | @Verifone
Kwiyoung Baumgarten, PR
Chris Mammone, IR