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VeriFone, ITS unveils EMV-ready payment terminals in Saudi

Jeddah, August 25, 2014

VeriFone Systems has unveiled two Europay, Mastercard and Visa (EMV)-ready payment terminals from VX Evolution, its latest line of portable and countertop terminals, in the Saudi Arabia market with its partner International Turnkey Systems Group (ITS), an integrated IT solutions and software service provider.

The Saudi Arabian Monetary Agency (Sama), the central bank of Saudi Arabia, certified VeriFone’s VX 520, an advanced countertop payment system, and the VX 675, the world’s smallest, full-function, wireless handheld payment device, said a statement.

Sama oversees the Saudi Payments Network (SPAN), the payment system in the kingdom that connects all ATM and point of sale (POS) terminals, it said.

Bulent Ozayaz, president of Southern Europe, Russia, Middle East and Africa for VeriFone, said: “VeriFone is committed to providing leading edge, certified terminal solutions to meet the needs of our clients in key markets. Working in partnership with ITS, we are able to continue to extend our global payments industry leadership into the Kingdom and ultimately throughout the region.”

ITS is a regional leader in software services and solutions with over thirty years of experience in the Middle East working with hundreds of banks and financial institutions, said the statement.

It has assisted in developing Sama’s high-level information security system, the Saudi Arabian Riyal Interbank Express (SARIE), which provides the mechanism for all Saudi commercial banks to make and settle payments in Saudi Riyals (SR).

Mohammed Nigm, sector service manager of Saudi Arabia for ITS, which will provide local distribution and support, said: “VeriFone’s advanced payment terminals provide the latest capabilities and most robust security to meet the needs of banks and merchants throughout the kingdom. VeriFone solutions provide a wide range of communications options that meet the needs of virtually any merchant in the Saudi market.”

VeriFone’s payment devices are compact, easy to install and easy for both merchant and customer to use. They accommodate a wide variety of card payment options including NFC, mobile wallets, EMV, and contactless payments, the statement added. - TradeArabia News Service




Tags: payment | Solution | ITS | ready | EMV | VeriFone |

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