VeriFone Systems (NYSE: PAY) today announced certification of its EMV/NFC-enabled payment processing solution from Vantiv, Inc. (NYSE: VNTV), a leading provider of payment processing services and related technology solutions for merchants and financial institutions of all sizes in the U.S.
The two companies have cooperated on certification of the VeriFone Evolution payment platform for EMV payments. Each device in the VX Evolution family offers advanced technology capabilities including NFC, EMV, tighter security with PCI PTS 3.0, higher-level performance and the ultimate in reliability, all on the proven VX platform. With VeriFone's ongoing EMV and security compliance services, merchants can rest assured in their ability to meet evolving requirements.
"With this release, Vantiv harnesses its integrated single point-of-entry platform with VeriFone's cutting edge payment acceptance solution to deliver a new standard in merchant payment processing that delivers significantly better security, greater flexibility and importantly, the future adaptability needed to support EMV and mobile payments," said Vantiv Chief Product Officer Bill Weingart.
Jim Oberman, managing director of NPC, a Vantiv company, added, "In order for our ISO channel partners to remain competitive, it is critical that their payment processor lead the market with payment products that change the merchant paradigm. Our products do that by giving merchants a way to grow and protect their customer, and securely facilitated whether the transaction is processed through a mobile wallet, a chip card or traditional mag stripe."
Jennifer Miles, VeriFone executive vice president, North America, said, "Any merchant contemplating new or upgraded payment systems should opt for an EMV solution now to avoid the coming liability shift. Vantiv and VeriFone have collaborated to deliver the most sophisticated, robust and all-encompassing payment platform to ease the EMV migration for merchants of any size, in any environment."
The VX Evolution family includes countertop, mobile and customer facing options for virtually any environment, with each system including built-in VeriShield Total Protect technology to support end-to-end encryption of card data.