Bank Audi and Verifone Partner to Enable Retailers in Lebanon with Cashless Payment Solutions
August 17 2016 - 12:00AM
Business Wire
Consumers across Lebanon to benefit from
merchants accepting contactless and mobile transactions at
checkout
Lebanon is emerging as one of the Middle East’s leading markets
introducing innovative cashless payment solutions. As part of the
country’s retail infrastructure upgrade, Verifone (NYSE: PAY), a
world leader in payments and commerce solutions and Bank Audi,
Lebanon’s largest bank, will provide thousands of merchants with
point-of-sale (POS) devices designed to bring new payment and
commerce capabilities to the country’s expanding retail market.
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“We are delighted to offer the new and easy to install Verifone
devices that enable our merchants to benefit from contactless and
mobile payment acceptance,” said Randa Bdeir, Group Head of
e-Payment Solutions and Card Services at Bank Audi. “Ultimately we
are providing consumers with better, faster and more convenient
ways to pay and this is a great complement to our strong card
business. Verifone’s commerce-enabled devices will encourage the
uptake of new POS-based services in Lebanon including e-loyalty and
targeted promotions for a more personalized shopping
experience.”
Supporting Bank Audi’s merchant services in both countertop and
mobile retail sales environments, the Verifone VX520 and VX680
devices will enable contactless with NFC (Near-Field Communication)
acceptance and value-added applications that help to increase
consumer loyalty and repeat business. Ergonomically designed, they
offer high transaction processing speed for fast consumer checkout
and better experiences.
“As Lebanon’s premier bank, Bank Audi is a pioneer and market
leader in cards and e-payments, offering some of the most
innovative merchant solutions,” said Özgür Özvardar, vice president
and general manager, Verifone MENA. “We are helping to accelerate
their vision for building the next generation retail infrastructure
as Lebanon moves towards service-rich mobile and cashless
payments.”
Verifone’s local representatives and team of technical experts,
based at its regional headquarters in Istanbul, Turkey, will
support this deployment which is expected to begin in the second
part of 2016.
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: successful enablement of merchants in Lebanon, 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 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 with approximately 29 million devices and
terminals deployed worldwide. 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
About Bank Audi
Bank Audi is a regional group with a universal banking profile.
The Bank offers universal financial products and services including
Corporate, Commercial, Individual and Retail, and Private Banking
services, in addition to Investment Banking and On-line Brokerage
services. As at end-March 2016, Bank Audi’s consolidated assets
reached USD 41 billion, principally driven by private customers’
deposits of USD 34.2 billion, with shareholders’ equity reaching
USD 3.4 billion. Bank Audi’s group staff headcount exceeds 6,900
employees and its shareholders’ base encompasses more than 1,500
holders of common shares and/or holders of Global Depositary
Receipts (GDRs) representing common shares. Bank Audi ranks first
among Lebanese banking groups and is positioned in the inner circle
of top regional banking groups. Its shares are listed on the Beirut
Stock Exchange. Its GDRs are listed on both the Beirut Stock
Exchange and the London Stock Exchange.
Stay connected:
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www.youtube.com/BankAudiGroup
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