News from the Wire

Vantiv first to offer Verifone Carbon with commerce platform

Friday, October 21, 2016 — 12:30:03 (EDT)

San Jose, Calif. and Cincinnati, Oct. 21, 2016 -- In an era where connected commerce technologies are transforming consumer behavior, research shows the next several years will see small- to medium-sized businesses (SMBs) increasing adoption of new commerce software and technologies. To help SMBs keep pace and win in the face of this transformation, Verifone (NYSE: PAY) and Vantiv, Inc. (NYSE: VNTV) today announced an agreement to bring the Verifone Carbon Commerce Platform to market in the United States as a key feature of the Vantiv SmartFit Solutions™.

“We found that businesses want smarter, more secure technology to provide advanced payments, create loyalty and grow their business. Verifone Carbon with Vantiv SmartFit Solutions is designed to do that, fitting the needs of small and medium-sized businesses,” said Patty Walters, senior leader of Security, PCI, EMV and Terminals at Vantiv.

The Vantiv SmartFit Solutions is a flexible, proprietary approach to providing SMBs with a customized solution for payment processing and adaptable applications that meet their unique needs as their business grows. Verifone Carbon will be loaded with Vantiv’s tablet-based payments system for retailers and restaurants. Working with partner iMobile3, a leading provider in point of sale and commerce software, Verifone Carbon includes order and inventory management, tools for online analytics and reporting, and a gift card program, all features that most SMBs desire but often can’t afford.

“SMBs are in need of open, agile and intelligent solutions that can help them adapt to change,” said Jordan McKee, senior analyst, 451 Research. “These solutions must address key organizational challenges, such as controlling costs and generating customer loyalty, while accommodating the influx of new consumer technologies such as digital wallets.”

Later this year dozens of businesses across the U.S. will begin piloting their own customized Verifone Carbon. Each business will receive a system designed for their unique needs, with security, support, versatile payment acceptance, and tailored value-added solutions including the freedom to choose applications to manage their business and increase customer engagement.

Designed as a portable countertop with dedicated merchant and consumer facing tablets for optimal business management and consumer engagement, Verifone Carbon is powered by Intel’s high-speed chipset for fast processing to run Vantiv’s proprietary software and third party applications. Verifone’s Commerce Platform enables open, cloud-based and secure solutions. Merchants will be able to access a variety of applications from the worldwide developer community, to manage and grow their business, and reward their best customers.

In this pilot, pre-loaded apps will include TruRating, an innovative solution that takes the pulse of consumer sentiment via the Carbon device, asking customers to anonymously rate an aspect of their consumer experience on the touch screen, and Verifone Media App for displaying promos and branded content on the consumer-facing tablet, all in real time.

“Which point of sale to buy is a critically important decision for merchants and their service providers to meet changing consumer expectations,” said Jennifer Miles, president, Verifone North America. “By offering Vantiv’s SmartFit solutions on Verifone’s Commerce Platform, Vantiv will enable merchants to drive more stickiness and loyalty, and provide consumers with experiences that are engaging, efficient and relevant to their connected world.”

Verifone Carbon will be on display at Money20/20, October 23-27 in Las Vegas. Visit Verifone Booth #2414 and Vantiv booth #1020. For more information, click here.

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Source: Company press release.