VeriFone Systems (NYSE: PAY), today announced Paymedia Solutions, a comprehensive, subscription-based offering that provides small to medium-sized merchants with payment solutions and access to payment-enabled media at the checkout counter, including the integration of online services such as digital couponing, loyalty, location-based social media and value-added services.
As a turnkey solution, PAYMEDIA represents an expansive portfolio of systems, infrastructure and services with which ISOs, acquirers and other resellers can equip merchants with a true "intelligent checkout" capability that integrates traditional payment with discounts, rewards and coupons. A monthly subscription-based pricing model eliminates upfront hardware costs and ensures compatibility with new capabilities and services as they become available.
PAYMEDIA builds on VeriFone's PAYware Connect intelligent gateway services to integrate traditional payment authorization with non-traditional payment-enabled media and services that accommodate consumer mobile phones. VeriShield Total Protect, Secured by RSA, provides an end-to-end encryption and tokenization solution to alleviate PCI compliance issues.
"VeriFone created a complete payment-enabled digital media ecosystem that brings the full potential of online payment-oriented and social media services to the offline retail counter," said Paul Rasori, VeriFone senior vice president of marketing. "PAYMEDIA ensures merchants can meet the rapidly evolving needs of media-savvy consumers and take advantage of the latest systems, including NFC-capable payment acceptance, without risking upfront investments."
PAYMEDIA encompasses payment acceptance systems, intelligent gateway services, and managed services that include end-to-end security and automated software updates. It integrates traditional payment services such as credit and debit, with emerging alternative payments and online payment-enabled media and services. Additionally, ISOs and acquirers can take advantage of sophisticated online tools such as automatic compliance updates, on-demand terminal status reporting, and real-time merchant attrition alerts.
"Our reseller partners can provide complete integrated solutions that drive consumers into merchants' stores and by enticing them with rapidly evolving value-added services," Rasori said. "With PAYMEDIA, resellers can transform their sales operations into a recurring revenue business model that fosters long-term services-oriented relationships with merchants."
VeriFone has established partnerships to bring the services of MocaPay and vPromos to the retail checkout through PAYMEDIA and will announce additional services throughout the year. PAYMEDIA will be available beginning in June through select resellers including the following:
• Bankcard USA
• Electronic Merchant Systems
• Franchise Payment Network
• Pivotal Payments
• U.S. Merchant Services
• U.S. Merchant Systems
• Vantage Card
• Veracity Payments