Verifone Leads Effort to Define and Implement the Newest Conexxus Mobile Payment Global Standard for Loyalty
October 18 2016 - 8:00AM
Business Wire
Enables gas station retailers to provide their
consumers with a frictionless mobile payment and rewards-enabled
experiences
(NACS, Booth #3431)—Verifone (NYSE: PAY), a world leader
in payments and commerce solutions, has brought top mobile
technology providers, POS manufacturers and fuel marketers together
at Conexxus to establish a new Mobile API standard. Verifone is the
first to adopt and deploy this new standard, creating a more
consumer-centric mobile commerce environment in gas stations and
convenience stores—and at the pump—by allowing tightly coordinated
interaction between mobile payment and loyalty applications.
Working with mobile payment early adopters to define a standard
interface, Verifone was instrumental in creating an open API that
all mobile payment providers and POS manufactures can implement.
Verifone and its partners are now deploying open mobile payment
solutions across a wide variety of applications including retail
branded apps and direct ACH payment at the pump with community
banks.
“Verifone has consistently and heavily engaged with Conexxus to
accelerate Mobile API standard adoption across our membership,”
said Gray Taylor, Executive Director of Conexxus. "This is a great
example of how the manufacturing, service provider and retail
communities came together within Conexxus to update a critical
industry standard.”
By taking a collaborative approach to the new Conexxus Mobile
Payment Standard, Verifone prevented the project from developing on
a proprietary interface across a myriad of service providers that
would result in little consumer adoption.
“Further proliferation of closed solutions would have added
significant technology complexity and support costs for retailers,
making it difficult for them to select and deploy mobile solutions
that best suit their needs,” said Dan Yienger, Senior Vice
President and General Manager of Verifone’s Global Petroleum
business. "Verifone’s commitment to simplifying and enabling
commerce is why we collaborated with our peers and Conexxus to set
Mobile API standards for the industry as a whole.”
With a ubiquitous industry standard in place, consumers can take
advantage of loyalty programs, discounts, and frequent shopper
reward programs at multiple gas stations and c-stores using their
smartphone.
Verifone was actively involved in driving this next phase of the
Conexxus Mobile Standard, Mobile 2.0, that incorporates loyalty and
mobile payments in the mobile commerce environment. The
addition of loyalty to the mobile payment process increases the
consumer value proposition and enables mobility payment providers
to deliver highly customized and relevant offers that consumers are
much more likely to redeem.
Visit booth 3431 at the NACS Show, October 19-21 in Atlanta, GA
to demo Verifone’s innovative products and services designed for
the petro and convenience store sector.
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: 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 Conexxus
Conexxus is a non-profit, member-driven technology
organization dedicated to the development and implementation of
standards, technologies innovation and advocacy for the convenience
store and petroleum market. Conexxus membership collaborates on key
present and future industry challenges and innovations. Our work
efforts improve profitability by reducing the cost of IT ownership
and improving the competitiveness of our members.
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VerifoneDevika Goel, 678-327-5478Devika.goel@verifone.com
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