Visa Inc. and Verifone Join Forces to Accelerate Omni Commerce Globally
June 03 2015 - 9:20AM
Business Wire
Visa Inc. (NYSE:V), and Verifone (NYSE: PAY), a leader in point
of sale payments, today announced a partnership that will enable
merchants to offer their customers a more streamlined, secure
purchase experience across digital and face-to-face commerce
environments, often referred to as omni-channel commerce. As part
of the partnership, the companies will integrate industry leading
platforms: Verifone will connect its point of sale gateway to
Visa’s CyberSource global merchant payment management platform.
This will provide merchants with a single platform to protect
customer payment data, mitigate fraud, and integrate digital and
offline payment systems.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20150603005907/en/
“As consumers shop and pay in multiple channels, merchants are
looking to integrate payment systems to facilitate a single view
into their customers’ buying behaviors,” said Andre Machicao,
senior vice president, CyberSource, a Visa Inc. company. “This
announcement is about two industry leaders coming together to
create that view for merchants so they can better serve and
understand the needs of consumers globally, across all commerce
channels, and without sacrificing security.”
Securely and efficiently managing payments across digital and
face-to-face sales channels are critical success factors for
retailers as they seek to keep consumer payment data safe. This
trend is confirmed by a recent study from CyberSource and Retail
Systems Research, which reveals the following as the top three
payment concerns among retailers:
- Protecting customer payment data and
managing fraud (59%)
- Integrating new digital payments and
legacy payment systems (57%)
- Making it easier for customers to pay
with online and mobile devices (52%)
Additionally, as the U.S. shifts to EMV chip-enabled payments to
help enhance consumer payment security and combat fraud, retailers
are also deploying chip-compatible point of sale solutions. The
CyberSource-Verifone partnership accelerates merchants’ ability to
adopt more secure chip technology.
“Verifone and CyberSource are brands that merchants know and
trust for their ability to deliver secure and reliable payment
acceptance in the online and brick-and-mortar retail worlds,” said
Vin D’Agostino, executive vice president of Commerce Enablement for
Verifone. “This exciting partnership will enable merchants to
leverage the assets and experience of two established leaders and
drive a multi-layered approach to security across all sales
channels, tighten relationships with their customers online and
offline, and provide amazing experiences at the point of sale,
rivaling the experiences they are able to create online.”
Accelerating Cross-Channel Payment Infrastructure
Verifone will connect its point of sale gateway to Visa’s
CyberSource global merchant payment management gateway, placing a
certified, cross-channel payment solution within immediate reach of
merchants. Initially available in the United States, September
2015, the integrated CyberSource Verifone solution will enable
merchants to:
- Accept cross-channel payments and
centralize transaction reporting to increase customer
engagement, enhance marketing insights, and streamline payment
reconciliation.
- Mitigate online fraud risk via
use of CyberSource Decision Manager, the world’s largest fraud
detection radar that applies over 260 fraud screens and includes
insights from over 60 billion transactions processed annually by
Visa and CyberSource. Decision Manager increases merchant fraud
pattern visibility by 200 times.
- Keep consumer payment data safe and
simplify payment security management by keeping sensitive
payment data off merchants’ networks. Combining CyberSource payment
security solutions with Verifone’s Secure Commerce Architecture can
help reduce exposure to data breaches, enable more rapid chip
implementation and certification, and increase the speed of
innovation at the point of sale.
- Deploy EMV chip-certified POS
devices and shorten the path to EMV chip readiness, depending
on their acquirer’s CyberSource configuration. A select series of
Verifone POS solutions, which are both NFC- and chip-enabled, are
compatible with the CyberSource platform.
About Visa Inc.
Visa Inc. (NYSE:V) is a global payments technology company
that connects consumers, businesses,
financial institutions, and governments in more than 200
countries and territories to fast, secure and reliable
electronic payments. We operate one of the world's most
advanced processing networks — VisaNet — that is capable
of handling more than 56,000 transaction messages
a second, with fraud protection for consumers and
assured payment for merchants. Visa is not a bank and
does not issue cards, extend credit or set rates and fees
for consumers. Visa's innovations, however, enable its
financial institution customers to offer consumers more
choices: pay now with debit, pay ahead of time with
prepaid or pay later with credit products.
For more information,
visit usa.visa.com/about-visa, visacorporate.tumblr.com and
@VisaNews.
About CyberSource
CyberSource, a wholly-owned subsidiary of Visa Inc., is a
payment management company. Over 400,000 businesses worldwide use
CyberSource and Authorize.Net brand solutions to process online
payments, streamline fraud management, and simplify payment
security. The company is headquartered in Foster City, California
and maintains offices throughout the world, with regional
headquarters in Singapore, Tokyo, Miami / Sao Paulo and Reading,
U.K. CyberSource operates in Europe under agreement with Visa
Europe. For more information, please visit www.cybersource.com.
About Verifone
Verifone is transforming everyday transactions into
opportunities for connected commerce. We’re connecting more than 27
million 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. 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
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150603005907/en/
Visa Inc.Aida Hadzibegovic, + 415 805
4242ahadzibe@visa.comglobalmedia@visa.comorVerifoneKwiyoung
Baumgarten, + 770 754 3460Kwiyoung.baumgarten@verifone.com
Paymentus (NYSE:PAY)
Historical Stock Chart
From Aug 2024 to Sep 2024
Paymentus (NYSE:PAY)
Historical Stock Chart
From Sep 2023 to Sep 2024