verifone systems inc (PAY) Key Developments
Sunil Kappagoda Leaves VeriFone Systems, Inc. as Executive Officer, Effective July 23, 2015
Jul 9 15
Mr. Sunil Kappagoda, one of the named executive officers of VeriFone Systems, Inc. in his capacity as president of Verifone Asia Pacific, and EVP, Corporate Strategy, no longer serves in that capacity as of July 6, 2015, and will be leaving the company as of July 23, 2015.
Verifone Announces Executive Appointments
Jul 9 15
Verifone announced the appointment of Steve Aliferis as president of Asia Pacific. Additionally, the company announced the appointment of Arthur Jiang as senior vice president and general manager for China, which was recently established as a separate region reporting to CEO Paul Galant. With more than 20 years of experience in the payments and banking industries, Aliferis has held executive management positions with Commonwealth Bank of Australia, National Australia Bank and Assure Worldwide. He most recently served as head of Business Banking, Product and Australian Financial Services at Westpac Group. Aliferis will join Verifone on August 3, 2015 and will be based in the company’s Singapore office. Jiang began his role as head of China on July 7, 2015 and is based in the company’s Beijing office. He has more than 20 years of experience building growing businesses in China’s payments industry. Jiang is the former CEO and a former board member of PAX Technologies, and has also held senior leadership roles with Gemalto (formerly Schlumberger) and Hi Sun Technologies. Most recently, Jiang served as the vice general manager of Aisino Corporation’s payments business, where he led initiatives to drive merchant acquiring and services in China.
Transaction Network Services and Verifone Form New Agreement to Help Merchants Enhance Payment Data Security
Jul 7 15
A new agreement between Transaction Network Services (TNS) and Verifone has been established to help merchants enhance payment data security with streamlined, expedient point-to-point encryption (P2PE) technology deployment. The two companies, which began working together more than six years ago, are integrating their complementary payment security solutions to provide complete end-to-end protection for in-store payment transactions. Managed POS Encryption from TNS and Verifone’s end-to-end encryption solution, VeriShield Protect, will be combined into a single interface, enabling merchants to deploy P2PE through a faster, more efficient process. VeriShield Protect from Verifone enhances TNS’ Managed POS Encryption solution by encrypting cardholder information from the moment it is captured at the terminal and keeping it encrypted until it is securely accessed behind TNS’ firewall. Used by more than 250 of the top merchants and nine of the top 10 payment processors in the US, VeriShield Protect is the most widely adopted end-to-end encryption solution in the US. VeriShield Protect encrypted more than 1.5 billion transactions in 2014 and, so far, has already encrypted more than 1.2 billion transactions this year. Managed POS Encryption and VeriShield Protect can be reinforced with tokenization to further strengthen the merchant payments infrastructure. Tokenization replaces cardholder data in the merchant environment with a token that can be regularly submitted to TNS when payments are due. TNS stores the cardholder information on behalf of the merchant within its secure, PCI-compliant environment. TNS’ tokenization solution is ideally suited for merchants that take recurring payments or need to store cardholder data for chargeback, or reversal and marketing analytics. It is a robust solution that is suitable for card present and card-not-present payments.
Westpac Signs Four-Year Point of Sales Deal with VeriFone Systems, Inc
Jun 23 15
Westpac announced that it has inked a four-year agreement with Verifone Systems under which the bank will deploy over 100,000 VX 690 point of sales (PoS) payment terminals and accompanying online services. Westpac will offer the company's VX 690 payment terminal as well as full terminal management to customers leveraging the company's Payment as a service platform. VX 690 payment terminal, which features bluetooth, 3G radio and Wi-Fi connectivity, will accept all types of payments including EMV, NFC, and mobile wallets as well as accept cards branded by UnionPay International.
Westpac Banking Corporation Offers Next-Gen Portable Payment Devices & Full Terminal Management to Customers Leveraging Verifone Payment as a Service Platform
Jun 22 15
Verifone announced that Westpac Banking Corporation will be the first bank in Asia Pacific to deploy its new handheld EMV and NFC-enabled terminal solution that is fully supported with payment services from Verifone. Westpac Group—including St. George, Bank of Melbourne and Bank SA—will provide the VX 690 payment terminal from Verifone along with full terminal management support through Verifone’s Payment as a Service platform. The partnership provides a superior level of servicing that will offer Westpac Group’s merchant clients a market leading platform for faster onboarding, the ability to see their daily transaction activity in real-time and full support provided by Verifone’s technical expertise. A handheld payment terminal, the VX 690 can accept all types of payments—including EMV, NFC and mobile wallets. It features Bluetooth, 3G radio and Wi-Fi connectivity that meets merchants’ demands—especially where multiple connectivity options are increasingly required for payment device acceptance. The terminal will also be able to accept cards branded by UnionPay International (previously China UnionPay). Verifone’s Payment as a Service platform will enable merchants to connect the terminals to Verifone’s gateways for efficient transaction routing, simplified device monitoring and enhanced payment security and compliance. Each terminal is also backed by Verifone’s call center and field support services.