PaySpot Forges Alliance With VeriFone

Integrates prepaid services with Sapphire system

Published in CSP Daily News

LEAWOOD, Kansas Prepaid provider PaySpot Inc., a subsidiary of Euronet Worldwide Inc., has made a strategic alliance with VeriFone Holdings Inc., a leading provider of payment solutions.

Through this partnership agreement, Atlanta-based VeriFone and Leawood, Kansas-based PaySpot will integrate PaySpot's prepaid functionality with VeriFone's Sapphire site controller. PaySpot will also integrate its prepaid products with the Omni 3750 multi-application payment system.

This alliance will provide prepaid product integration for more [image-nocss] than 60,000 petroleum and convenience store retailers currently using VeriFone payment solutions.

The Sapphire integration of PaySpot prepaid products is currently underway, the companies said.

With more than 60,000 Ruby Systems in 29 countries deployed specifically for petroleum and c-store operations, VeriFone provides the ability to tailor functionality to each location. The integration of PaySpot's prepaid functionality with VeriFone's Sapphire site controller will offer petroleum retailers and c-stores the ability to "top-up" or credit consumer's prepaid needs, such as prepaid wireless phones, prepaid long distance and prepaid debit cards, using PaySpot.

This joint solution will assure retailers that any top-up service provided to the customer will be controlled and accounted for.

"VeriFone has championed the benefits of value-added applications at the point-of-sale that create more reasons for consumers to patronize a particular location and generate new revenue opportunities for merchants," said Dan Yienger, VeriFone petroleum and c-store vice president of sales. "PaySpot delivers a comprehensive array of electronic products and services well-suited to VeriFone's multi-application environment."

PaySpot offers a variety of prepaid products, including prepaid wireless, prepaid long distance plans, prepaid gift cards, prepaid MasterCard and bill payment. The prepaid products are sold electronically through POS terminals or integrated electronic cash registers systems at retail locations. Prepaid products are the fastest growing category in retail. Additionally, PaySpot now offers petroleum and c-store retailers the opportunity to be a part of the profitable money transfer industry. Its new patented and convenient card-based money transfer product enables retailers to now offer a product that it said has not been provided before in this retail segment.

VeriFone's payment solutions manage petroleum and convenience store operations including card processing, fuel control, pay at the pump, car wash integration, and tank level monitoring. VeriFone is currently certified on all major petroleum focused payment networks.