News from the Wire

Verifone, Samsung team to accelerate merchant adoption of Samsung Pay

Tuesday, April 19, 2016 — 11:46:22 (EDT)

Las Vegas, April 19, 2016 --ETA TRANSACT ’16 (Verifone Booth #620) Verifone (NYSE: PAY), a world leader in payments and commerce solutions, and Samsung Electronics Co., Ltd have teamed up to accelerate merchant adoption of Samsung Pay. As the most widely accepted mobile payment system in the U.S., Samsung Pay (Samsung Pay Booth #605) works almost anywhere users can swipe or tap a card.

“As we enable innovators like Samsung to create amazing experiences leveraging our products, we want to make sure that any form of payment consumers want to use can be accepted,” said Vin D’Agostino, executive vice president of Verifone Services. “Verifone’s partnership with Samsung allows both companies to help merchants and consumers to more quickly embrace the future of payments and commerce that stands to reinvent the in-store shopping experience.”

“Many merchants are surprised and delighted to see their existing Verifone terminals already working with Samsung Pay,” said Will Graylin, Global Co-GM of Samsung Pay. “This partnership shows that Verifone and Samsung are committed to bringing better commerce experiences to the point of sale for merchants and consumers; and a fast path to acceptance is the first step in the journey.”

Samsung Pay uses Near-Field Communication (NFC), as well as its proprietary technology - Magnetic Secure Transmission (MST) - to deliver secure tokenized transactions for terminals that have EMV and NFC capabilities, as well as existing terminals that only accept magnetic stripe (or “swipe”) payments.

Samsung Pay is:

• SIMPLE: To make a payment on Samsung Pay, users can simply swipe up, scan their fingerprint and pay.

• SAFE: Samsung Pay uses tokenization, Samsung KNOX, and fingerprint authentication to provide secure payments. And, as terminals are upgraded to EMV, that security is leveraged, too.

• ALMOST ANYWHERE: Samsung Pay is compatible with the majority of new and existing terminals, including most magnetic stripe, EMV and NFC devices. **That means Samsung Pay works at more places than any other mobile payment service.

About Verifone

Verifone is transforming everyday transactions into opportunities for connected commerce. We’re connecting 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 with approximately 29 million devices and terminals deployed worldwide. 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

About Samsung Pay

Samsung Pay, a mobile payment service from Samsung Electronics, is simple, safe and available almost anywhere you can swipe or tap your card. Combining NFC with Samsung’s proprietary MST technologies, Samsung Pay provides consumers a way to pay almost anywhere you can swipe or tap a card at millions of merchant locations. Samsung continues to strategically expand its partnership ecosystem for Samsung Pay to provide greater flexibility, access, and choice for customers while enabling an easy and safe payment experience.

*Samsung Pay is compatible with select cards, Samsung devices, and leading wireless providers. Visit www.samsung.com/pay to learn more.

About Samsung Electronics America, Inc.

Headquartered in Ridgefield Park, NJ, Samsung Electronics America, Inc. (SEA), is a recognized innovation leader in consumer electronics design and technology. A wholly owned subsidiary of Samsung Electronics Co., Ltd., SEA delivers a broad range of digital consumer electronics, IT and home appliance products. Samsung is the market leader for HDTVs in the U.S. and one of America’s fastest growing home appliance brands. To discover more of the award-winning products you love with Samsung, please visit www.samsung.com .

About Samsung Electronics Co., Ltd.

Samsung Electronics Co., Ltd. inspires the world and shapes the future with transformative ideas and technologies that redefine the worlds of TVs, smartphones, wearable devices, tablets, cameras, digital appliances, printers, medical equipment, network systems, and semiconductor and LED solutions. We are also leading in the Internet of Things space with the open platform SmartThings, our broad range of smart devices, and through proactive cross-industry collaboration. We employ 319,000 people across 84 countries with annual sales of US $196 billion. To discover more, and for the latest news, feature articles and press material, please visit the Samsung Newsroom at news.samsung.com .

The Green Sheet Inc. is now a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals. Click here for more information: bankcardlife.com?orid=33533&opid=1 .

Source: Company press release.