Move over large retailers, Verifone Point is now available to small-and-medium-sized businesses (SMBs) in the U.S. through Verifone’s network of Independent Sales Organization (ISO) and acquirer partners. Until now Verifone Point was exclusively offered to big merchants by direct sale.
Verifone Point is a Payment as a Service which bundles hardware, software, gateway and support services into a single integrated solution that is built on Verifone’s Secure Commerce Architecture (SCA) and can be customized by ISOs and acquirers to provide everything their clients need for seamless and secure payment acceptance and transaction management.
Extending the availability of Payment as a Service to ISOs and acquirers offers Verifone’s partners a way to reduce operational costs and provide merchants with ready access to current and future value-added services while expediting the deployment of EMV-ready payment terminals.
Verifone’s North American Payment as a Service offering is bundled to meet the needs of each ISO and acquirer, and can include payment terminals, application software, breach insurance as well as gateway and estate management SAQ services”enabling them to reduce payment complexity for clients by providing:
• Reduced total cost of payment system ownership
• Quick integration with EMV, NFC, mobile wallets and other emerging payment technologies.
• Estate management through which security and feature updates can be downloaded sooner–removing the “guesswork” and complexity of managing multiple payment methods and technologies.
For semi-integrated merchants, the offering also enables ISOs and acquirers to decouple the POS from the flow of payment data, preventing the data from being stolen at scale.
The potential financial penalties associated with the upcoming EMV liability shift could impact even the smallest merchants as well as their service providers. Verifone’s Payment as a Service offering vastly reduces the scope, time and expense of compliance and recertification management, while easing the integration of future new payment technology.
Payment as a Service uses Verifone’s SCA to connect terminals directly to Verifone’s gateways or the processor host–making it easier for acquirers and ISOs to meet PCI requirements and quickly update terminal payment applications to comply with changes to card brand-specific EMV requirements.
Payment as a Service also ensures that payment transaction data is encrypted from the moment a card is submitted until it reaches Verifone’s gateway or the merchant’s processor host.
By offering Verifone’s Payment as a Service, ISOs and acquirers can also provide clients the ability to efficiently provide special promotions and product offers through terminals at the POS”the types of incentives that consumers increasingly expect for their loyalty.
SCA provides the ability for merchants to engage consumers with targeted advertising, digital loyalty, coupons and product offers at the POS through Verifone’s Commerce Enablement offerings. Verifone’s goal is to enhance merchants’ ability to create more value for their customers, and SCA will provide the foundation for Verifone’s Commerce Enablement offerings, which will allow merchants to easily customize and personalize their sales environment and provide consumers with value at the POS.
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