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VeriFone Systems Announces Leadership Changes



  VeriFone Systems Announces Leadership Changes

                   --Douglas Bergeron Steps Down as CEO --

               --Board Forms Committee to Conduct CEO Search--

  --VeriFone’s Chairman, Richard McGinn, Becomes Interim CEO; Board Member,
                  Leslie Denend, Becomes Interim Chairman--

Business Wire

SAN JOSE, Calif. -- March 11, 2013

The Board of Directors of VeriFone Systems, Inc. (NYSE: PAY) (“VeriFone”)
announced that Douglas G. Bergeron is stepping down as Chief Executive Officer
and member of the Board of Directors, effective March 12. VeriFone’s Chairman,
Richard McGinn, has been named Interim CEO and continues as a member of the
Board; Leslie Denend has been named Interim Chairman.

Rich McGinn has served as a director of VeriFone since 2008 and as Chairman
since 2012. He also serves as a member of the board of directors of American
Express Co. Les Denend has served as a director of VeriFone since 2005 and is
chair of the Company’s Compensation Committee and also serves on the Audit
Committee.

The Board also announced that it formed a search committee to evaluate
candidates to serve as the Company’s CEO and will be engaging a leading
executive search firm to assist in the process. The search committee will be
headed by Alex W. (Pete) Hart, who has served as a VeriFone director since
2006.

“Doug Bergeron has led VeriFone since 2001 and overseen its transformation
into an industry leader. On behalf of the entire Board, I want to thank Doug
for his dedication and his many contributions.  VeriFone is a great company,
and I am excited to work with our senior leadership team and Board of
Directors as we look towards our next phase of growth and development. Our
immediate focus will be on accelerating value creation for our stakeholders,
including our shareholders, customers and employees, by leveraging our
superior product and service portfolio. At the same time, we will be
redoubling our efforts to reinforce our competitive positioning within the
electronic payment systems industry,” said Mr. McGinn. “I am confident that
our search committee will identify a new leader who will bring a fresh
perspective and enable us to achieve our full business potential.”

Doug Bergeron said, “It has been an honor to lead VeriFone through such an
exciting period in its history. I am very proud of our progress and
accomplishments during the past 12 years. Now is the right time for new
leadership to take the baton and continue to drive the Company forward.”

The Company reiterated its guidance for second fiscal quarter 2013 and full
fiscal year 2013 as outlined in the March 5, 2013 earnings announcement.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

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. These risks and uncertainties
include, but are not limited to: 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 identify and
complete acquisitions and strategic investments and successfully integrate
them into our business, whether the expected benefits of our business
initiatives are achieved, 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, risks and
uncertainties related to the conduct of our business and operations
internationally, our ability to effectively hedge our exposure to foreign
currency exchange rate fluctuations, 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. The forward-looking statements in this press release do not include
the potential impact of any acquisitions or divestitures that may be announced
and/or completed after the date hereof. 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. 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.

Additional Resources: http://ir.verifone.com

Contact:

Investor Relations:
VeriFone
Doug Reed, 408-232-7979
SVP, Treasury & Investor Relations
ir@verifone.com
or
Media Relations:
VeriFone Media Relations
Leah Roscoe, 770-754-3442
Leah_R1@verifone.com
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