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TheStreet Open House

Austria’s PayLife Selects VeriFone To Modernize Payment System Estate

VeriFone Systems, Inc. (NYSE: PAY) today announced an agreement to provide PayLife, the Austrian market leader in cashless transactions, with the new VeriFone VX 680 wireless solution and VX 825 PIN acceptance system to upgrade or replace tens of thousands of installed systems. Within the current year, PayLife also will utilize several thousand VeriFone QX 1000 devices to provide immediate NFC/contactless in-place upgrades of existing devices.

A joint venture of major Austrian banks, PayLife provides card acceptance services to companies across the retail environment, the oil industry and the tourism and service sectors. PayLife plans over time to replace existing installed payment systems with the new VeriFone systems that feature integrated contactless with NFC support and are designed to meet the latest PCI PTS 3.0, ZKA, EMV and Austrian security requirements.

“VeriFone’s innovative, consumer-friendly payment solutions will meet our needs today and in future as we adapt to the fast evolving new era of NFC payments, including the very successful Austrian electronic purse, Quick,” said Robert Komatz, senior vice president of PayLife Bank.

The VX 825 features a high-resolution 3.5" color display that enhances branding opportunities and increases readability to provide an intuitive interaction point for consumers. The wireless VX 680 also features a 3.5” display and is built with durable components for long-lasting use, even in the most demanding mobile environments. The QX 1000 is an advanced peripheral solution to provide existing payment devices with a seamless upgrade to contactless/NFC.

“We’re looking forward to working with PayLife to provide its merchants and their customers with the most advanced, easy-to-use payment systems available today,” said Adam Biedrzycki, VeriFone vice president and general manager, Central Europe. “VeriFone systems will accommodate all the card types currently accepted today by PayLife and the mobile, digital wallets of tomorrow.”

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

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