Westpac Uses Verifone’s Payment As A Service Platform to Offer Portable Devices and Management

June 23, 2015     By : LTP Team

Verifone announced that Westpac Banking Corporation (‘Westpac Group’) will be  the first bank in Asia Pacific to deploy its new handheld EMV and NFC-enabled terminal solution that is fully supported with payment services from Verifone.

With more than 13 million customers, Westpac Group is one of the largest financial services institutions in Australia and New Zealand. Westpac Group—including St.George, Bank of Melbourne and Bank SA—will provide the VX 690 payment terminal from Verifone along with full terminal management support through Verifone’s Payment as a Service platform. The partnership provides a superior level of servicing that will offer Westpac Group’s merchant clients a market leading platform for faster onboarding, the ability to see their daily transaction activity in real-time and full support provided by Verifone’s technical expertise.

“At Westpac we know the tools our merchants use are critical to getting the most out of their business and delivering the best possible experience for their customers,” said Steve Aliferis, Head of Product, Australian Financial Services, Westpac Group. “That’s why we are one of the first banks in the world to introduce the latest Verifone terminals which are designed to solve payment challenges and bring convenience to our merchants to accept emerging forms of payments in any type of environment.”

A handheld payment terminal, the VX 690 can accept all types of payments—including EMV, NFC and mobile wallets. It features Bluetooth, 3G radio and Wi-Fi connectivity that meets merchants’ demands—especially where multiple connectivity options are increasingly required for payment device acceptance. The terminal will also be able to accept cards branded by UnionPay International (previously China UnionPay).

Verifone’s Payment as a Service platform will enable merchants to connect the terminals to Verifone’s gateways for efficient transaction routing, simplified device monitoring and enhanced payment security and compliance. Each terminal is also backed by Verifone’s call center and field support services.

“This new platform provides Westpac Group a core end-to-end solution to help solve payment challenges for merchants, enhance the customer experience and easily go to market with additional payment products and services in the future,” said Peter McLeod, General Manager of Australia and New Zealand for Verifone.  “The ability to simplify payments and enhance customer service are just some of the reasons we continue to see an increasing number of financial institutions and merchants outsourcing the deployment and management of their payment systems to us.”

About Westpac Banking Corporation

Westpac Banking Corporation (Westpac) was founded in 1817 and was the first bank established in Australia. Westpac Group has branches and controlled entities throughout Australia, New Zealand and the near Pacific region and maintains offices in key financial centres around the world including London, New York, Hong Kong and Singapore. Westpac is ranked in the top 5 listed companies by market capitalisation on the Australian Securities Exchange Limited (ASX).

About Verifone :

Verifone is transforming everyday transactions into opportunities for connected commerce. We’re connecting more than 27 million 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. 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.

LTP Team

A group of content writers, bloggers, journalists and editors from the Lets Talk Payments team.

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