VeriFone Systems, Inc.
) recently entered into an agreement with Valero Retail Holdings,
Inc. to deploy VeriFone PAYMEDIA for Secure PumpPAY solutions in
VeriFone recently introduced its PAYmedia service, managed by
VeriFone Media and broadcast via the VeriFone Digital Network
(VNET). The Secure PumpPAY Solutions from VeriFone enable gasoline
retailers and distributors to install Europay, MasterCard and VISA
(EMV)-capable PCI payment systems in gasoline dispensers that meet
the latest payment security standards.
In September 2006, the Payment Card Industry Security Standards
Council (PCI SSC) was formed by American Express, Discover
Financial Services, JCB, MasterCard, and Visa
The prime motive behind these standards was to oversee and unify
industry standards in the areas of payment card data security,
referred to as the PCI standards. These standards consist of PIN
Transaction Security (PTS), the PCI Data Security Standard
(PCI-DSS) for enterprise data security, and the Payment Application
Data Security Standard (PA-DSS) for payment application data
As security becomes a key driving factor, these standards have
become more stringent and increasingly dependent on complex
hardware-based measures to protect all payment related
Earlier, VeriFone announced that Indiana-based retailer
The Finish Line
) has deployed its mobile checkout and multimedia-driven countertop
payment solutions to improve the shopping experience of its
consumers, following a successful trial.
In the last two years, VeriFone has been focusing on
transforming its business in response to the rapidly evolving needs
of customers, retailers and payment innovators across the world.
The company aims to offer its retailers a managed service that can
easily accept all existing payment types, including the evolving
alternative and mobile payment methods being offered by Google and
PayPal, Groupon, Isis, Visa, MasterCard and American Express.
We continue to maintain our Neutral recommendation on VeriFone
in the long run. Our recommendation is supported by a Zacks #3
Rank, which translates into a short-term rating of Hold.
FINISH LINE-CLA (FINL): Free Stock Analysis
VERIFONE HLDGS (PAY): Free Stock Analysis
To read this article on Zacks.com click here.