Verifone Adds Payment as a Service Capabilities in Germany with Acquisition of InterCard AG
November 09 2015 - 9:15AM
Business Wire
Verifone (NYSE: PAY) announced today that it has signed an
agreement to acquire InterCard AG, a leading Payment as a Service
provider in Germany.
“This announcement reaffirms our commitment to meeting the needs
of our retail clients who are increasingly seeking new services and
assistance as they grow across Europe. The acquisition of InterCard
will provide retailers with access to a fuller suite of payment
acceptance services across the continent,” said June Felix,
President Verifone Europe.
InterCard, based in Munich, is a family-owned business that was
founded in 1992. For more than 20 years, the company has provided a
full suite of payment services including terminal sales and
leasing, field support services such as helpdesk, installation and
maintenance as well as gateway services, such as transaction
routing. The combination of Verifone and InterCard in Germany
creates a point of sale terminal and multichannel Payment as a
Service provider capable of offering merchants secure, simple and
innovative end-to-end payment and commerce solutions.
“As the German market continues to evolve toward accepting more
forms of cashless payment, Verifone anticipates growing demand from
its customers for a partner capable of helping merchants and
financial institutions quickly adapt, reducing the complexity of
managing their payment environments, and better leveraging their
point of sale investments to engage consumers and grow sales,” said
Markus Hoevekamp, General Manager, Verifone Germany. “InterCard is
a long-time Verifone partner and an outstanding organization, with
a strong management team that is known for delivering exceptional
client service.”
“Together with Verifone, InterCard’s customers will now benefit
from further improvements to our service offering and by future
innovation,” said Kai Adolph, CEO InterCard AG. “Furthermore, as
the market continues to grow and expand across geographical
boundaries, our clients are looking for a partner who can support
them seamlessly across countries and across continents. Verifone
has been a trusted partner of InterCard for years and has broad
global distribution, an international client base, and a brand that
is known for security and reliability. We’re excited about the
benefits of joining the Verifone team, and the value this will
bring to our clients’ ambitions.”
Terms of the deal are not disclosed. Closure is dependent on the
approval of the German Federal Financial Supervisory Authority,
BaFin, and the German Federal Cartel Office, Bundeskartellamt.
Verifone will provide additional information regarding the pending
acquisition on the company’s upcoming Q4 FY15 Earnings call on Dec.
14, 2015 at 1:30 p.m. Pacific Time.
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: market acceptance of our products and service offerings,
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.
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
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Verifone Media RelationsAndy Payment,
770-754-3541andy.payment@verifone.com
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