VeriFone Systems, Inc. (NYSE: PAY), today announced a comprehensive payment solutions and services contract with Galeries Lafayette, one of France’s largest department store chains. The five-year agreement includes managed services, software, helpdesk and 3,200 of VeriFone’s VX 820 advanced PIN acceptance devices that support credit, debit and EMV transactions, and include integrated NFC/contactless technology for alternative payments.
The central component of the VeriFone solution is PAYware Wynid, a managed services platform that will encompass all Galeries Lafayette payments across the chain, including cross-border payments from the retailer’s German operation. Galeries Lafayette will also utilize VeriFone’s encryption and tokenization services to ensure the most secure payments environment.
“VeriFone was able to provide the most comprehensive payments solution to suit our needs over the foreseeable future, including encryption and tokenization of EMV payment transactions,” said Galeries Lafayette Director of Data Systems Laurent Singer.
“Galeries Lafayette is one of the largest retailers in France -- and operator of the biggest retail store in Paris with 750 card acceptance stations -- and represents a tremendous competitive win for VeriFone in France,” said Olivier Guiot, VeriFone general manager, France. “This demonstrates the appeal that our services-based approach to payments holds for large retailers.”VeriFone’s PAYware Wynid provides an end-to-end managed payment service that consolidates and routes all types of electronic payment transactions. It enables Galeries Lafayette to manage and host transactions for its German operations from France, easing certification requirements. The VeriFone VX 820 PIN acceptance solution features a 3.5-inch high-resolution color touch screen that is consumer-friendly and provides high-impact color graphics to improve customer recognition and loyalty. About Group Galeries Lafayette Group Galeries Lafayette is a private, independent and family-run group, which has inherited nearly 120 years of history in the retail and fashion trades, based around the idea of making beauty and quality accessible to as wide an audience as possible. Endlessly reinventing the concept of a department store, the Group currently enjoys international recognition, centered on its brands Galeries Lafayette, BHV, Royal Quartz-Louis Pion and Didier Guerin. For more information: www.groupegalerieslafayette.fr Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for VeriFone Systems, Inc.