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NAB partners with VeriFone for payments innovation

9 October, 2012

National Australia Bank (NAB) today announced a strategic partnership with global payments leader VeriFone Systems, Inc (VeriFone), which will provide Australian businesses with access to a range of the latest in payments technology integrating with Apple, Android or BlackBerry devices.

The partnership will provide NAB's 130,000 merchant customers with access to world leading technology for card acceptance and enhanced ‘mobility' by accepting payments via tablets or mobiles.

One of the first range of products available for merchants will be iPhone and iPad "PAYware" sleeve that can turn them into a payments terminal. The sleeves will also be used to roll out updates, innovations enhancements as technology evolves, removing the need for any additional infrastructure.

David Gall, Executive General Manager, Working Capital Services, NAB said: "As Australia's leading business bank we are committed to providing Australian businesses with innovative, market leading payment solutions.

"This partnership is the latest in a number of initiatives aimed at giving customers greater flexibility and agility. We know that technology is moving quickly, and speed, mobility and access to real-time information is critical for businesses accepting payments.

"The partnership aligns with NAB's strategy of working with global technology providers and allows us to bring the best of both worlds to our business customers – we maintain our focus on relationship banking, while providing our customers with access to world-class payments technology," Mr Gall said.

VeriFone's range of mobile and tablet payment solutions are compatible with Apple, Android and Blackberry smart devices, providing merchants greater flexibility while reducing their costs. Additionally, VeriFone's open platform enables retailers to develop their own apps without bank certification, enabling them to innovate more quickly and increase their speed to market.

NAB is also working with VeriFone on rolling out new EFTPOS terminals over the coming weeks. The terminals will include new technology including colour and touch screens, embedded contactless reader, better ergonomic design and user interface.

Whilst NAB will be able to utilise VeriFone's already available mobile technology that is operating in thousands of merchants in the U.S. and Europe, the partnership will also provide NAB's customers with access to additional capabilities that are tailored to different industries or types of businesses, if they choose.

Zvi Mitlanski, senior vice president and general manager, VeriFone Asia Pacific, said: "VeriFone is pleased to provide innovative solutions that propel NAB's presence further through the value chain, offering Australian businesses the mobility and flexibility to shape their day-to-day business operations without missing out on the importance of security and reliability in the payments system."

The new point of sale devices could change the way merchants run their business by eliminating the need for a till in the store. Mobile or tablet payment terminals can double as an "online catalogue", linking to goods in warehouses which can be purchased and delivered, reducing the amount of stock businesses need to keep on site. This will enable business owners to serve customers who would otherwise have walked out of the store.

NAB business customers already currently process $22bn in Visa and MasterCard payments via online or mobile channels each year and growing. The initiatives announced today will further integrate customers' systems to accept card payments on the go and to enhance the in-store experience via mobile phones and tablets.

NAB is the leading business bank in Australia, with the largest market share among SME merchants.

About VeriFone Systems, Inc. (www.verifone.com)

VeriFone Systems, Inc. ("VeriFone") (NYSE: PAY) is the global leader in secure electronic payment solutions. VeriFone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. VeriFone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.

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Elisha Vincent
M: +61 (0) 429 566 676