VeriFone NFC Managed Services to Drive China Mobile Commerce Network

  VeriFone NFC Managed Services to Drive China Mobile Commerce Network

Alliance with Bank of China, China Mobile and Shen Yang Badatong to Spur
Mobile Commerce with VeriFone NFC Payment and Marketing Platforms

Mobile World Congress 2013

Business Wire

SAN JOSE, Calif. -- December 18, 2012

VeriFone Systems, Inc. (NYSE: PAY) today announced an alliance with China
Mobile and Bank of China to deploy VeriFone’s managed services solutions for
NFC payment and mobile marketing in Shen Yang, China. Another alliance member,
Shen Yang Badatong E-Commerce Co., Ltd., is equipping thousands of merchant
locations with VeriFone NFC acceptance systems to enable payment and
redemption via NFC at the point of sale.

This represents the first implementation of VeriFone’s PAYMEDIA Mobile
Marketing Platform (MMP), an end-to-end solution that enables merchants,
brands and third parties to launch highly targeted campaigns to mobile wallet
subscribers.

“VeriFone solutions make it possible for consumers and merchants to fully
leverage the power and simplicity of NFC technology supported by Bank of China
and China Mobile,” said Zvi Mitlanski, senior vice president, VeriFone Asia
Pacific. “This implementation demonstrates the potential of VeriFone’s
Payments-as-a-Service vision and strategy, and provides Shen Yang with a
complete infrastructure for provisioning, integrating and managing wallets and
other mobile apps.”

A key element in the NFC implementation is VeriFone’s PAYMEDIA Universal
Acceptance Platform (UAP), which provides the Shen Yang alliance with a
complete solution for full control over NFC mobile commerce acceptance. As an
open standard, the UAP allows for mobile commerce over any enabled acceptance
network.

“Bank of China and China Mobile are implementing a true end-to-end NFC
infrastructure, working with Shen Yang Badatong to make NFC payment and mobile
commerce a reality for merchants and consumers,” added Mitlanski.

PAYMEDIA UAP enables Mobile Network Operators (MNOs) and wallet providers to
easily download wallet acceptance applications directly to merchants’ point of
sale systems and allows merchants to connect these apps to providers via
VeriFone’s cloud-based gateway. PAYMEDIA MMP complements mobile wallet
acceptance by driving consumers to merchants with offers, promotions and
digital coupons that can be used as they complete their transactions.

China Mobile and Bank of China expect to issue an initial 50,000 SIM cards
during the current year. The SIM cards will be marketed to subscribers through
bank branches and China Mobile customer support centers.

VeriFone is planning to replicate this service in additional cities and
provinces across China and globally, partnering with wallet providers, MNOs
and integrators. PAYMEDIA MMP will be featured in VeriFone’s exhibit (Hall 7
Stand 7B51) at the Mobile World Congress in Barcelona, 25-28 February.

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: successful rollout of our managed service solution
for the China market, 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.

Contact:

VeriFone Media Relations
Pete Bartolik, +1-508-283-4112
pete_bartolik@verifone.com
 
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