SAN FRANCISCO & SAN JOSE, Calif.--(BUSINESS WIRE)--
Visa Inc. (NYSE:V), and Verifone (NYSE: PAY), a leader in point of sale
payments, today announced a partnership that will enable merchants to
offer their customers a more streamlined, secure purchase experience
across digital and face-to-face commerce environments, often referred to
as omni-channel commerce. As part of the partnership, the companies will
integrate industry leading platforms: Verifone will connect its point of
sale gateway to Visa’s CyberSource global merchant payment management
platform. This will provide merchants with a single platform to protect
customer payment data, mitigate fraud, and integrate digital and offline
payment systems.
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“As consumers shop and pay in multiple channels, merchants are looking
to integrate payment systems to facilitate a single view into their
customers’ buying behaviors,” said Andre Machicao, senior vice
president, CyberSource, a Visa Inc. company. “This announcement is about
two industry leaders coming together to create that view for merchants
so they can better serve and understand the needs of consumers globally,
across all commerce channels, and without sacrificing security.”
Securely and efficiently managing payments across digital and
face-to-face sales channels are critical success factors for retailers
as they seek to keep consumer payment data safe. This trend is confirmed
by a recent study from CyberSource and Retail Systems Research, which
reveals the following as the top three payment concerns among retailers:
-
Protecting customer payment data and managing fraud (59%)
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Integrating new digital payments and legacy payment systems (57%)
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Making it easier for customers to pay with online and mobile devices
(52%)
Additionally, as the U.S. shifts to EMV chip-enabled payments to help
enhance consumer payment security and combat fraud, retailers are also
deploying chip-compatible point of sale solutions. The
CyberSource-Verifone partnership accelerates merchants’ ability to adopt
more secure chip technology.
“Verifone and CyberSource are brands that merchants know and trust for
their ability to deliver secure and reliable payment acceptance in the
online and brick-and-mortar retail worlds,” said Vin D’Agostino,
executive vice president of Commerce Enablement for Verifone. “This
exciting partnership will enable merchants to leverage the assets and
experience of two established leaders and drive a multi-layered approach
to security across all sales channels, tighten relationships with their
customers online and offline, and provide amazing experiences at the
point of sale, rivaling the experiences they are able to create online.”
Accelerating Cross-Channel Payment Infrastructure
Verifone will connect its point of sale gateway to Visa’s CyberSource
global merchant payment management gateway, placing a certified,
cross-channel payment solution within immediate reach of merchants.
Initially available in the United States, September 2015, the integrated
CyberSource Verifone solution will enable merchants to:
-
Accept cross-channel payments and centralize transaction reporting
to increase customer engagement, enhance marketing insights, and
streamline payment reconciliation.
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Mitigate online fraud risk via use of CyberSource Decision
Manager, the world’s largest fraud detection radar that applies over
260 fraud screens and includes insights from over 60 billion
transactions processed annually by Visa and CyberSource. Decision
Manager increases merchant fraud pattern visibility by 200 times.
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Keep consumer payment data safe and simplify payment security
management by keeping sensitive payment data off merchants’
networks. Combining CyberSource payment security solutions with
Verifone’s Secure
Commerce Architecture can help reduce exposure to data breaches,
enable more rapid chip implementation and certification, and increase
the speed of innovation at the point of sale.
-
Deploy EMV chip-certified POS devices and shorten the path to EMV
chip readiness, depending on their acquirer’s CyberSource
configuration. A select series of Verifone POS solutions, which are
both NFC- and chip-enabled, are compatible with the CyberSource
platform.
About Visa Inc.
Visa Inc. (NYSE:V) is a global payments technology company that connects
consumers, businesses, financial institutions, and governments in
more than 200 countries and territories to fast, secure and reliable
electronic payments. We operate one of the world's most advanced
processing networks — VisaNet — that is capable of handling more than
56,000 transaction messages a second, with fraud protection for
consumers and assured payment for merchants. Visa is not a bank and does
not issue cards, extend credit or set rates and fees for consumers.
Visa's innovations, however, enable its financial institution customers
to offer consumers more choices: pay now with debit, pay ahead of time
with prepaid or pay later with credit products.
For more information, visit usa.visa.com/about-visa, visacorporate.tumblr.com and
@VisaNews.
About CyberSource
CyberSource, a wholly-owned subsidiary of Visa Inc., is a payment
management company. Over 400,000 businesses worldwide use CyberSource
and Authorize.Net brand solutions to process online payments, streamline
fraud management, and simplify payment security. The company is
headquartered in Foster City, California and maintains offices
throughout the world, with regional headquarters in Singapore, Tokyo,
Miami / Sao Paulo and Reading, U.K. CyberSource operates in Europe under
agreement with Visa Europe. For more information, please visit www.cybersource.com.
About Verifone
Verifone is transforming everyday transactions into opportunities for
connected commerce. We’re connecting more than 27 million payment
devices to the cloud — merging the online and in-store shopping
experience and creating the next generation of digital engagement
between merchants and consumers. We are built on a 30-year history of
uncompromised security. Our people are known as trusted experts that
work with our clients and partners, helping to solve their most complex
payments challenges. We have clients and partners in more than 150
countries, including the world’s best-known retail brands, financial
institutions and payment providers.
Verifone.com
| (NYSE: PAY) | @verifone
View source version on businesswire.com: http://www.businesswire.com/news/home/20150603005907/en/
Source: Visa Inc.