Visa Inc., and Verifone, a leader in point of sale payments, has announced a partnership ...
Visa Inc., and Verifone, a leader in point of sale payments, has announced a partnership that will enable merchants to offer their customers a more streamlined, secure purchase experience across digital and face-to-face commerce environments, often referred to as omni-channel commerce. As part of the partnership, the companies will integrate industry leading platforms: Verifone will connect its point of sale gateway to Visa’s CyberSource global merchant payment management platform. This will provide merchants with a single platform to protect customer payment data, mitigate fraud, and integrate digital and offline payment systems.
This Smart News Release features multimedia. View the full release here: https://www.businesswire.com/news/home/20150603005907/en/
“As consumers shop and pay in multiple channels, merchants are looking to integrate payment systems to facilitate a single view into their customers’ buying behaviors,” said Andre Machicao, senior vice president, CyberSource, a Visa Inc. company. “This announcement is about two industry leaders coming together to create that view for merchants so they can better serve and understand the needs of consumers globally, across all commerce channels, and without sacrificing security.”
Securely and efficiently managing payments across digital and face-to-face sales channels are critical success factors for retailers as they seek to keep consumer payment data safe. This trend is confirmed by a recent study from CyberSource and Retail Systems Research, which reveals the following as the top three payment concerns among retailers:
- Protecting customer payment data and managing fraud (59%)
- Integrating new digital payments and legacy payment systems (57%)
- Making it easier for customers to pay with online and mobile devices (52%)
Additionally, as the U.S. shifts to EMV chip-enabled payments to help enhance consumer payment security and combat fraud, retailers are also deploying chip-compatible point of sale solutions. The CyberSource-Verifone partnership accelerates merchants’ ability to adopt more secure chip technology.
“Verifone and CyberSource are brands that merchants know and trust for their ability to deliver secure and reliable payment acceptance in the online and brick-and-mortar retail worlds,” said Vin D’Agostino, executive vice president of Commerce Enablement for Verifone. “This exciting partnership will enable merchants to leverage the assets and experience of two established leaders and drive a multi-layered approach to security across all sales channels, tighten relationships with their customers online and offline, and provide amazing experiences at the point of sale, rivaling the experiences they are able to create online.”
Accelerating Cross-Channel Payment Infrastructure
Verifone will connect its point of sale gateway to Visa’s CyberSource global merchant payment management gateway, placing a certified, cross-channel payment solution within immediate reach of merchants. Initially available in the United States, September 2015, the integrated CyberSource Verifone solution will enable merchants to:
- Accept cross-channel payments and centralize transaction reporting to increase customer engagement, enhance marketing insights, and streamline payment reconciliation.
- Mitigate online fraud risk via use of CyberSource Decision Manager, the world’s largest fraud detection radar that applies over 260 fraud screens and includes insights from over 60 billion transactions processed annually by Visa and CyberSource. Decision Manager increases merchant fraud pattern visibility by 200 times.
- Keep consumer payment data safe and simplify payment security management by keeping sensitive payment data off merchants’ networks. Combining CyberSource payment security solutions with Verifone’s Secure Commerce Architecture can help reduce exposure to data breaches, enable more rapid chip implementation and certification, and increase the speed of innovation at the point of sale.
- Deploy EMV chip-certified POS devices and shorten the path to EMV chip readiness, depending on their acquirer’s CyberSource configuration. A select series of Verifone POS solutions, which are both NFC- and chip-enabled, are compatible with the CyberSource platform.
About Visa Inc.
Visa Inc. (NYSE:V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world’s most advanced processing networks — VisaNet — that is capable of handling more than 56,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead of time with prepaid or pay later with credit products.
For more information, visit usa.visa.com/about-visa, visacorporate.tumblr.com and @VisaNews.
CyberSource, a wholly-owned subsidiary of Visa Inc., is a payment management company. Over 400,000 businesses worldwide use CyberSource and Authorize.Net brand solutions to process online payments, streamline fraud management, and simplify payment security. The company is headquartered in Foster City, California and maintains offices throughout the world, with regional headquarters in Singapore, Tokyo, Miami / Sao Paulo and Reading, U.K. CyberSource operates in Europe under agreement with Visa Europe. For more information, please visit www.cybersource.com.
Verifone is transforming everyday transactions into opportunities for connected commerce. We’re connecting more than 27 million payment devices to the cloud — merging the online and in-store shopping experience and creating the next generation of digital engagement between merchants and consumers. We are built on a 30-year history of uncompromised security. Our people are known as trusted experts that work with our clients and partners, helping to solve their most complex payments challenges. We have clients and partners in more than 150 countries, including the world’s best-known retail brands, financial institutions and payment providers.
Verifone.com | (NYSE: PAY) | @verifone
View source version on businesswire.com: https://www.businesswire.com/news/home/20150603005907/en/
MULTIMEDIA AVAILABLE :