Planned expansion stands to extend VeriFone taxi and media services to more than 20,000 additional taxis
August 20, 2014 SAN JOSE, CA
VeriFone Systems, Inc. (NYSE: PAY), today announced plans to expand its taxi and media services to Istanbul and throughout Mexico’s Mayan Riviera. Through this expansion, VeriFone stands to provide more than 20,000 additional taxis with secure, in-taxi and mobile payments, mobile hailing and booking, and interactive multimedia content during passenger rides.
“This planned expansion can benefit taxi fleets and drivers in these regions by enabling them to provide passengers with convenient and secure methods of payment and mobile apps,” said Amos Tamam, senior vice president of Taxi Systems for VeriFone. “It will also increase the number of screens through which merchants and consumer brands can leverage VeriFone’s connected multimedia network to reach captive audiences and enable commerce.”
Istanbul’s 18,000 licensed taxis will use VeriFone’s full suite of taxi payment services, including Way2ride—VeriFone’s award-winning mobile taxi app—and VeriFone’s driver-facing tablets and passenger facing payment terminals that can engage consumers with relevant content through VeriFone’s multimedia network—the VeriFone Digital Network (VNET). VeriFone expects the two-year deployment of the solutions to begin in late 2015.
In association with Mexicar, VeriFone’s taxi and media services will also be available to more than 3,000 taxis operating in Mexico’s Mayan Riviera —Cancun and Playa Del Carmen—through VeriFone’s partnership with one of the largest financial institutions in Mexico. Mexicar has been selected by the Mayan Riviera’s taxi drivers’ unions to supply member taxis with payment, advertising and media solutions, which Mexicar has agreed to obtain exclusively from VeriFone.
“Growth of our taxi and media network that we’re anticipating in these regions is a result of our ability to work well with partners that have selected VeriFone to deliver the technology and solutions they need to better serve their clients,” said Tamam. “We are very excited to work with these partners, as they understand the value VeriFone brings beyond payments.”
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: the successful rollout of the VeriFone taxi and commerce enablement solutions in Istanbul and Mexico, 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 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.