VeriFone Systems (NYSE: PAY), today announced its PAYware Merchant managed service is now available across Europe.
The recently announced strategic partnership with Gemalto completes VeriFone's pan-European sales and distribution network and makes a continental payment gateway service feasible.
PAYware Merchant is a bank-certified, hosted payment solution for large retailers, fuel organisations and hospitality companies. The world-class, PCI DSS-compliant payments platform integrates with virtually any front-end POS system and provides a cost-effective outsourced payments service that relieves merchants from associated capital expenditures, on-going maintenance, investment and resourcing.
"The Gemalto partnership fills out our pan-European distribution network," said Shaun Burger, VeriFone vice president and general manager for Northern Europe, Middle East and Africa. "We are now well positioned to execute our European expansion strategy regardless of whether our offer to acquire Hypercom is completed."
VeriFone on September 29 disclosed that it had made a proposal to the board of directors of Hypercom to acquire all of the outstanding shares of Hypercom for $5.25 per share in cash. Subsequently, on October 20, it announced a comprehensive strategic partnership with Gemalto including exclusive discussions for VeriFone to acquire Gemalto's POS solutions business.
The PAYware Merchant managed service provides companies with a new way to manage the entire payments process more effectively. In particular, it minimizes the cost and effort they are currently required to expend on PCI compliance.
"Rather than retrofit legacy POS systems to ever-changing PCI compliance, companies can now leverage VeriFone's expertise and ongoing investment in payments security and through PAYware Merchant gain a flexible platform that provides comprehensive reporting and monitoring tools," Burger said.