Visa Ready Program Validates VeriFone Mobile Payment Technology

VeriFone Mobile Payment Solutions Are Visa Ready

The Visa Ready Program validates the security of EMV-enabled mobile payment technology from VeriFone

San Jose, Calif. – April 3, 2014 – VeriFone  Systems, Inc. (NYSE: PAY), announced today that five devices in its award-winning PAYware Mobile line of EMV- enabled mobile point of sale (mPOS) devices have been approved by the Visa Ready Program. The program is designed to ensure that devices, software and solutions used to initiate or accept Visa payments are compatible with Visa’s requirements.

By adopting PAYware Mobile devices that are Visa Ready approved, merchants enjoy the benefits of secure electronic payment acceptance from virtually any location.

“We are committed to providing innovative payment solutions that meet the growing needs of our merchants, retailers and channel partners,” said Bill Nelson, executive vice president of Global Product Management and Services for VeriFone. “By validating the security of our mPOS technology, the Visa Ready approval gives our clients added peace of mind in knowing that they are better managing and growing their business with mPOS solutions that enhance payment security.”    

“Mobile point-of-sale technology is enabling merchants of all sizes to accept card payments, and helping to displace cash and check payments globally,” said Bill Gajda, senior vice president, Innovation and Strategic Partnerships, Visa Inc. “Through the Visa Ready Program we are enabling payment solution providers like VeriFone to quickly deploy innovative solutions to initiate and accept Visa payments.”

PAYware Mobile solutions from VeriFone are innovative mPOS devices that enable retailers and merchants to extend the POS to new environments. PAYware Mobile devices feature universal, Payment Card Industry (PCI) compliant mPOS adapters that transform smartphones and tablets into completely secure devices that can accept contactless, chip and PIN and traditional mag-stripe card payments. Some devices also accept NFC payments and feature high-end barcode scanning for additional functionality such as remote inventory management, checkout and access to product information.

Specific devices within the PAYware Mobile product suite that are approved by the Visa Ready Program include the PAYware Mobile e105, e210, e255, e315 and e335.

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

This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs and on currently available competitive, financial and economic data and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the forward-looking statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other risks and uncertainties affecting the operation of the business of VeriFone Systems, Inc., including many factors beyond our control. These risks and uncertainties include, but are not limited to, those associated with: customer and market acceptance of PAYware Mobile suite of products, execution of our strategic plan and business initiatives and whether the expected benefits of our plan and initiatives are achieved, short product cycles and rapidly changing technologies, our ability to maintain competitive leadership position with respect to our payment solution offerings, our assumptions, judgments and estimates regarding the impact on our business of the continued uncertainty in the global economic environment and financial markets, our ability to successfully integrate acquired businesses into our business and operations, our ability to protect against fraud, the status of our relationship with and condition of third parties such as our contract manufacturers, distributors and key suppliers upon whom we rely in the conduct of our business, our dependence on a limited number of customers, the conduct of our business and operations internationally, our ability to effectively hedge our exposure to foreign currency exchange rate fluctuations, and our dependence on a limited number of key employees. For a further list and description of the risks and uncertainties affecting the operations of our business, see our filings with the Securities and Exchange Commission, including our annual report on Form 10-K and our quarterly reports on Form 10-Q. The forward-looking statements speak only as of the date such statements are made. VeriFone is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.

About VeriFone Systems, Inc. (www.verifone.com)

VeriFone Systems, Inc. (“VeriFone”) (NYSE: PAY) is the global leader in secure electronic payment solutions. VeriFone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets.  VeriFone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.