VeriFone Systems, Inc. (NYSE: PAY), announced today that Moneris Solutions Corporation ("Moneris"), Canada's largest debit and credit card processor, has selected the VeriFone VX 520, a reliable and easy to use countertop device that accepts all types of electronic payments. Installation of the VX 520 devices will begin in 2014.
The VX 520 is PCI PTS 3.X compliant and features one of the industry's fastest processors that can quickly handle payment encryption, decryption and processing—enabling merchants to improve security and reduce transaction times. Its integrated contactless capability and all-in-one design allows merchants to accept alternative payments, such as EMV (chip and PIN) cards and mobile wallets, as well as traditional mag-stripe cards through a single device. Merchants can also use the VX 520 to support value-added applications, such as loyalty or gift card acceptance.
"At Moneris, we are proud to enhance our service to our customers with a convenient and secure technology solution that streamlines the payment process," said Jeff Guthrie, Chief Sales and Marketing Officer at Moneris. "The adoption of VX 520 devices will expand merchants' payment options, while giving them an opportunity to process payments faster and spend more time running their business."
The VX 520 features full functioning dual communication through its range of connectivity options, which include dial-up and Ethernet. And, its communication port is located underneath the device, which helps keep merchants' countertops neat and free of clutter.
"We are excited to partner with Moneris as they provide additional value for their business customers throughout Canada," said Shan Ethridge, vice president and general manager, North America Financial Services Group, VeriFone. "As the largest processor of merchant transactions throughout Canada, Moneris' selection of the VX 520 represents the appeal that our solutions-based approach offers."