Gemalto and VeriFone Systems entered into a strategic partnership. The two companies will pursue new chip card solutions based on the global EMV payment standard, particularly as US retailers and card networks increasingly acknowledge chip card and contactless technologies as a core component of a security infrastructure. They are also in exclusive discussions for VeriFone to acquire Gemalto's PoS solutions business. Gemalto would be the supplier of Machine-to-Machine (M2M) wireless modules and related solutions for VeriFone payment systems.
Gemalto and VeriFone believe customers of Gemalto's PoS solutions will benefit from access to VeriFone's payment solutions. Based in France, the PoS solutions business would serve as an ideal launching pad for VeriFone's planned European expansion campaign.
With wireless modules, Gemalto is the provider of M2M wireless communication modules and solutions. M2M enables the remote connectivity and administration that is crucial in deploying over-the-air activation, software updates and post-issuance services to wireless PoS solutions already in the field. With the supplier relationship for Gemalto M2M technology, VeriFone will continue to benefit from the quality of wireless modules and will be able to take advantage of Gemalto developments in M2M packaged solutions.
“This partnership assists both companies in focusing on key strategic areas while relying on a trusted partner to provide complementary solutions. We look forward to developing with Gemalto EMV solutions, in particular for the US market,” said Douglas Bergeron, CEO of VeriFone Systems.
“VeriFone's leadership in retail payment solutions will provide customers with assurance of investment and competencies in this area. In addition to partnering on EMV-related growth prospects, in particular in the US, we look forward to being the supplier of core wireless components for the technology provider in the rapidly expanding wireless PoS and mobile payment solutions domain,” said Olivier Piou, CEO, Gemalto.