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iPayment Partners with VeriFone to Bring Next Generation POS to Main Street Merchants

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Verifone
2099 Gateway Place, Suite 600
San Jose, CA, 95110
USA



Press release date: May 27, 2014

Credit, debit card processing services provider offers complete tablet POS solution in partnership with VeriFone

San Jose, Calif. – VeriFone Systems, Inc. (NYSE: PAY), and iPayment, Inc., today announced a complete tablet point of sale solution. iPayment POS is designed for the more than 150,000 small business merchants iPayment currently serves directly, through independent sales organizations (ISOs) and other multiple direct distribution channels throughout the U.S.

"We evaluated all the tablet POS offerings on the market and it became abundantly clear that VeriFone has a superior product backed by market-leading expertise and deep support capabilities that would best serve our customers," said Carl Grimstad, iPayment's president and chief executive officer. "The small business merchants we specialize in are eager to realize the benefits of a tablet POS solution, but want reliable providers they can depend on."

"VeriFone is impressed with the innovative technology and tools iPayment provides to small and medium sized merchants; they have been instrumental in customizing this solution to address the needs of the marketplace," said Shan Ethridge, vice president and general manager, North America Financial Services Group, VeriFone. "The new iPayment POS solution provides small business owners with advanced capabilities and business acumen previously only available to larger merchants."

iPayment, an industry leader and partner to small and medium sized business owners across the United States, is proud to announce iPayment POS as the next step in business strategy for their customer base. iPayment POS is a turnkey iOS app-based solution that is incredibly easy to install, affordable, and simple to use. This solution is a combination of VeriFone's industry leading GlobalBay Merchant technology and other iPayment proprietary solutions. The bundle includes the iPayment POS software, an iPad, cash drawer, bar code scanner, stand and printer, as well as a VeriFone PAYware Mobile e100 secure audio reader or the VX 805 PIN Pad.

The solution utilizes secure encryption for payment processing and provides a suite of business tools that empower small merchants with capabilities formerly enjoyed only by larger retailers, such as inventory management, service and appointment scheduling, business analytics, customer management, built-in loyalty, and marketing campaigns. Merchants don't have to worry about emerging payment options, as the VX 805 PIN pad is able to support NFC, EMV, PIN/Debit, and mag-stripe.

"Tablet point of sale is ready to move from the early adopter phase to the mainstream market of small business merchants," said Ethridge. "But smaller merchants want innovation from providers they can depend on for years to come and that can address their concerns directly. With iPayment POS, main street merchants get a turnkey solution that leverages iPayment's superior merchant distribution and service capabilities along with VeriFone's resources and proven technology."

Additional Resources
WHITEPAPER: Tablet POS broadens opportunities for merchant payments

About iPayment, Inc. (www.ipaymentinc.com)
iPayment provides credit and debit card payment processing services to small merchants across the United States. iPayment's payment processing services enable merchants to accept credit cards from VISA, MasterCard, American Express, Discover and Diners Club, as well as other forms of payment, including debit cards, checks, gift cards and loyalty programs. iPayment provides payment processing services to approximately 150,000 merchants throughout the United States.

About VeriFone Systems, Inc. (www.verifone.com)
VeriFone Systems, Inc. ("VeriFone") (NYSE: PAY) is the global leader in secure electronic payment solutions. VeriFone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. VeriFone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.
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