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TheStreet Open House

NAB Partners With VeriFone For Payments Innovation

National Australia Bank (NAB) and VeriFone Systems, Inc. (NYSE: PAY) today announced a strategic partnership to provide Australian businesses with access to the latest in payments technology on Apple, Android and BlackBerry devices.

NAB is the leading business bank in Australia with the largest small and medium enterprise market share. VeriFone will be the sole provider of point of sale card acceptance solutions for NAB’s business customers.

David Gall, executive general manager, Working Capital Services, NAB said: “The partnership aligns with NAB’s strategy of working with global technology providers and allows us to bring the best of both worlds to our business customers – we maintain our focus on relationship banking, while providing our customers with access to world-class payments technology.”

VeriFone will provide stable, efficient and reliable technology for card acceptance and enhanced mobility to NAB’s 130,000 merchant customers. With VeriFone’s mobile payment solutions, merchants are able to use tablets or smart phones as payment acceptance devices that can be used anytime, anywhere. VeriFone’s secure payment network will also be used to roll out updates and enhancements as technology evolves, removing the need for additional infrastructure.

Zvi Mitlanski, senior vice president and general manager, VeriFone Asia Pacific, said: “VeriFone is pleased to provide innovative solutions that propel NAB's presence further through the value chain, offering Australian businesses the mobility and flexibility to shape their day-to-day business operations without missing out on the importance of security and reliability in the payments system.”

VeriFone’s mobile and tablet payment solutions are compatible with Apple, Android and Blackberry smart devices, providing merchants with greater flexibility while reducing costs. Additionally, VeriFone’s open platform enables retailers to develop their own apps without bank certification, increasing the speed to market for retailers’ custom innovations.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for VeriFone Systems, Inc.

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