VeriFone Holdings, Inc. (NYSE: PAY), today announced a major strategic initiative aimed at leveraging its current and future payment assets into the fast growing payment-enabled media marketplace.
Consumers are increasingly able to take advantage of electronic payment options in locations that offer unique media and marketing opportunities. VeriFone currently provides advertising opportunities on a number of its taxi cab payment systems in New York City and intends to broaden this footprint to include taxi cab advertising nationwide, and to begin a major initiative introducing other payment-enabled media opportunities.
"The payment experience provides a unique opportunity to reach a variety of audience segments, such as premium business travelers heading to and from an airport, utilizing large, interactive color displays that are in front of the consumer for a considerable period," said Douglas G. Bergeron, CEO of VeriFone. "Taxis and other select point-of-sale venues automatically segment audiences to provide highly desirable advertising efficiency."
The company will also begin a major initiative introducing other payment-enabled media opportunities, providing unique media and marketing opportunities to consumers at locations where they are increasingly able to take advantage of electronic payment options.
VeriFone announced the following key senior appointments: Bulent Ozayaz, formerly GM of VeriFone's US wireless business, has been appointed GM of VeriFone's payment-enabled media interests. Chris Polos has been appointed vice president, US Media Sales, reporting to Ozayaz; Polos was most recently director of advertising at Danoo and previously was a senior manager at AOL.
As part of this new initiative, VeriFone is announcing a major refresh of its taxicab technology to include IP-connected Flash 10 technology and dynamic content generation capabilities. VeriFone intends to roll this technology to all of its New York taxicabs by June.
Additionally, VeriFone intends to build its payment-enabled media sales force to more than 20 sales representatives serving both local and national media buyers. This will be accomplished ied in the first quarter of this year.