VeriFone Launches Pay-As-A-Service

VeriFone Systems today announced the launch of VeriFone Point pay-as-a-service solution during the RetailNOW event in Las Vegas.

Designed to help retailers and their service providers — such as ISVs, acquirers and ISOs — better manage the complexities of payment in retail, Point features a cost-predictable subscription model for obtaining and maintaining all the components of a complete payments solution, including software, management services, device acquisition, and maintenance.

The solution tackles “the complexities of managing PCI, EMV and emerging payments and mobile wallet technologies,” said Jennifer Miles, President of VeriFone Americas.

“Payments complexity surrounding the growing PCI compliance burden has already created a significant burden for U.S. merchants and service providers, and the migration to EMV coupled with the proliferation of value-added services will dramatically increase this burden,” said Rick Oglesby, senior analyst for Aite Group. “Solutions that remove the payment data and associated complexities from the POS create a meaningful and growing opportunity for merchants and merchant service providers alike.”

Through network integration between VeriFone devices and payment processor systems, Point prevents data breaches. Data is encrypted, securely routed for processing to the merchant’s acquirer and tokenized, decoupling the payment transaction from the merchant’s POS systems.

To help expand business in the U.S., Global Blue has implemented VeriFone Point in itsOneInterface global payment transaction solution. “VeriFone Point greatly simplifies PCI compliance and further strengthens our solution offering to our customers,” said Michael Balzer, SVP of OneInterface at Global Blue. “Our customers have been asking for it, and now we’re able to provide signature capture capabilities in a semi-integrated payments infrastructure. The solution is easy for our customers to manage their payment systems centrally, including configuration updates and media management, and in their stores the solution just works, freeing up valuable sales associate time for them to focus on selling to their customers.”

VeriFone Point is available to U.S. merchants and service providers.