VeriFone Systems, Inc., incorporated on June 13, 2002, offers payments and commerce solutions. The Company is engaged in designing, manufacturing, marketing and supplying a range of payment solutions and complementary services. It provides solutions and services for the retail point-of-sale (POS) that enable various forms of commerce. The Company's segments include Verifone Systems and Verifone Services. The Verifone Systems segment delivers point of sale electronic payment devices that run the operating systems, security and encryption software, and certified payment software for both payments and commerce. The Verifone Services segment delivers device-related leasing and maintenance, payment transaction routing and reporting, and commerce based services, such as advertising on digital screens. The Company operates in various sectors, such as financial services, retail, petroleum, restaurant, hospitality, taxi, transportation and healthcare.
Products and Services
The Company's system solutions consist of point of sale electronic payment devices that run its operating systems, security and encryption software, and certified payment software, and that are designed to suit the clients' needs in a different environments, including traditional multilane and countertop implementations, self-service and unattended environments, in-vehicle and portable deployments, and mobile point-of-sale solutions, as well as integrated Internet Protocol Over Satellite (iPOS) solutions. Its system solutions can securely process a range of payment types, including signature and Personal Identification Number (PIN)-based debit cards, credit cards, near field communication(NFC)/contactless/radio frequency identification (RFID) cards, smart cards, pre-paid gift and other stored-value cards, electronic bill payment, signature capture and electronic benefits transfer (EBT). Its architecture enables multiple value-added applications, including third-party applications, such as gift card and loyalty card programs, healthcare insurance eligibility, and time and attendance tracking. Its architecture allows these services to reside on the same system without requiring recertification upon the addition of new applications. The Company's Verifone Engage and Carbon payment solutions enable users to deliver media and commerce enablement services on its payment terminals to its merchant clients.
The Company's countertop solutions accept a range of payment options, including contactless, NFC, mobile wallets, and Europay, MasterCard, and Visa (EMV), and support a range of applications, such as pre-paid products, including gift cards and loyalty programs. The Company also supplies secure PIN pads that support credit and debit card, EBT and other PIN-based transactions, and include connectivity options and NFC capability. The countertop solutions support a range of certified applications that are either built into electronic payment systems or connect to electronic cash registers (ECRs) and POS systems. The Company's multimedia consumer facing POS devices are designed to allow merchants, particularly in the multi-lane retail environment, to engage in direct consumer interaction through customized multimedia content, in-store promotions, digital offers, and other value-added services using a POS device. Its solutions also support these same features in self-service market segments, such as taxis, parking lots/garages, ticketing machines, vending machines, gas pumps, self-checkouts and quick service restaurants.
The Company's portable payment devices consist of portable, handheld devices that enable merchants to accept electronic payments wherever wireless connectivity is available, and the mobile solutions offer secure mobile payment capabilities for all segments of the mobile point of sale (mPOS), environment, from large retailers to small merchants, and include devices that attach to, and interface with iPhone operating system (iOS), Android or Windows-based smartphones and tablets, enabling these devices to be used as a secure payment device by merchants. The Company has deployed its portable and mobile solutions in a range of merchant environments, including for retail, restaurant, hospitality, transportation, and delivery businesses.
The Company's family of products for petroleum companies consists of integrated electronic payment systems that combine electronic transaction processing, fuel dispensing, and ECR functions, as well as secure payment systems that integrate with petroleum pump controllers. These products, which include Secure PumpPay devices and related software, are designed to meet the needs of petroleum company operations. The Company's products allow its petroleum clients to manage fuel dispensing and control, and enable pay at the pump functionality, cashiering, store management, inventory management, and accounting for goods and services at the POS. The PAYmedia service enables digital content, including paid advertising and couponing, at the petroleum forecourt using its Virtual Network (VNET) media platform on the color screen of its Secure PumpPay units. Its unattended and self-service payment solutions are designed to enable payment transactions in self-service, high-transaction volume environments, such as vending machines, on-street parking meters, petroleum pumps, ticketing machines and store kiosks, as well as public transportation environments, including buses and rail lines. Its public transportation solutions enable contactless and NFC-enabled fare payments, while other unattended and self-service solutions include versions to accept a range of payment options, including mobile wallets, magnetic stripe, EMV chipcard or NFC or other contactless payment schemes.
The Company's network access solutions are designed and customized to support the requirements of the electronic payments industry by providing the networking hardware technology and communications infrastructure necessary to achieve connectivity within the POS environment. Its Intelligent Network Access Controller (IntelliNAC) is an intelligent networking device that provides a range of digital and analog interfaces, line and data concentration, protocol conversion and transaction routing, among other features and is offered with IntelliView.
Services
The Company offers a portfolio of services, from traditional terminal-related support services, transaction services and commerce enablement offerings that are designed to facilitate commerce opportunities for merchants. The Company's services offerings include transaction services, managed services and terminal management solutions, payment-enabled media, in-taxi payment solutions, security solutions, and other value-added services at the POS. It also offers a host of support services, including software development, installation and deployment, warranty, post-sale support, repairs and training.
The transaction services are hosted and managed by the Company and offered as a subscription-based model that provide clients with the flexibility to outsource a select set of payment operation services and solutions to be managed by it. Its range of services and solutions includes terminal services, such as terminal rental and related installation, deployment, on-site terminal servicing and hardware repair services, as well as gateway services, such as transaction routing, transaction acceptance processing, transaction reporting, remote device management, and payment value-added services using the client's choice of processor. The solution serves as a platform for deployment of additional value-added programs. The clients also have the option to enable processing of payment types across different channels of a merchant's business, including credit and debit card payments, online payments for e-commerce applications and mobile platforms.
The Company offers a range of other managed services to provide its clients with managed services tools that accommodate their business needs and plans. The Company's managed services include secure Web-based transaction processing that is consolidated across payment types, cloud-based remote loading of supported devices with updates for base files and firmware, software and applications, and estate management, including remote key loading, capabilities to remotely activate contactless, NFC and EMV payment methods, and consolidated reporting and analytics.
PAYware Connect, a cloud-based hosted payment solution, consolidates all payment transactions through its payment gateway and enables merchants to process from any Internet-connected personal computer (PC) through a single portal. PAYware Connect uses its VeriShield Total Protect for end-to-end transaction encryption and tokenization, and is certified by various payment processing networks. The terminal management solution, VHQ, enables management of an entire estate of devices with minimal on-site intervention, and is targeted to retailers, financial institutions, processors with helpdesk operations, and device maintenance companies. Its limo, livery, and taxi fleet management solution provides tools for fleets installed with its POS devices, including real-time vehicle and trip/fare activity monitoring, computerized dispatch, vehicle tracking and faster card processing.
The payment-enabled media solutions seek to leverage customer engagement at the POS, in taxi and at petroleum dispensers. Its PAYmedia solution is a media content management tool that enables delivery of digital media, including media content of interest to customers, relevant advertisement, and promotions and merchant loyalty programs, through its media-enabled POS devices. Production, management and delivery of media content can be managed by merchants or outsourced to it. The Company, through its in-taxi payment and Secure PumpPay POS devices, offers digital media content, such as local news, weather, traffic and public service messages, as well as paid advertising, through its VNET media platform.
The Company provides an integrated suite of hardware, software and services to the taxi industry to enable electronic payment of taxi fares. Its-taxi equipment includes secure electronic payment devices, Global Positioning services (GPS) navigation, wireless communications, and fleet management services. All payment transactions made through in-taxi electronic payment devices are sent wirelessly through its secure payment gateway. Its taxi payment solutions is deployed in cities, including New York City, Philadelphia, Boston, Chicago, Las Vegas, Miami and Baltimore, as well as certain cities outside the United States.
The security solutions offer clients tools to secure payment transaction data. VeriShield Total Protect provides end-to-end encryption coupled with server-based tokenization to securely protect data from the point of capture, whether transmitted from a card or mobile device, to the processor, and tokenizes card data for use post-authorization to eliminate cardholder data from POS applications, networks and servers. VeriShield Remote Key enables merchants to remotely and securely manage key injection into PIN pad devices as needed, including as part of scheduled maintenance, in response to changing compliance standards, and in response to suspected security breaches. The VeriShield Retain file authentication software is designed to secure a merchant's terminal estate against unauthorized third parties executing software on the payment devices.
The server-based software allows merchants to integrate payment functionality into PC-based and other retail systems. These products handle the business logic steps related to an electronic payment transaction (credit, debit, gift and loyalty), including collection of payment-related information from the consumer and merchant, and communication with payment processors for authorization and settlement. The PAYware software product line, consisting of server-based, enterprise payment software solutions, includes card acceptance and merchant acquiring solutions, POS integration software, value-added payment solutions and card management systems.
The Company offers a suite of support services, including installation, deployment, standard or customized training, and application development and delivery solutions. It supports its installed base by providing payment system around the clock helpdesk support, consulting, training, repair and/or replacement, asset tracking and reporting. It also offers customized service programs for specific vertical markets in addition to standardized service plans, per incident repair services and annual software maintenance on some of its licensed software products. It offers professional services for customized application development and delivery solutions. It also provides specific project management services for turnkey application implementations. It also offers client education programs, as well as consulting services, regarding selection of product and payment methodologies and strategies, such as debit implementation. Its payment devices generally carry a standard one-year warranty.
The Company competes with Ingenico S.A., PAX Technology, Ltd., Fujian Newland, Bambora Group, Square, SZZT Electronics Co. Ltd., Shenzhen Xinguodu, Equinox Payments, CyberNet Inc., Spire Payments Ltd, NCR Corporation and Oracle Corporation.
88 W Plumeria Dr
The company trades on NYSE exchange. The company headquarter is located in Redmond ,United States.| Ticker | PAY |
| Long Name | Paymentus Holdings, Inc. |
| Short Name | Paymentus Holdings, Inc. |