NEW YORK & LAS VEGAS--(BUSINESS WIRE)--Verifone (NYSE: PAY), a world leader in payment and commerce solutions, and Alipay, the world’s leading third-party payment platform, announced today the extension of their existing global partnership to Verifone Taxi Solutions. Through the agreement, Chinese consumers traveling in New York and Las Vegas will be able to pay for taxis in the U.S. for the first time using their Alipay Mobile Wallet.
By the end of October, 2,100 taxis in Las Vegas will accept Alipay upon checkout, and an additional 14,000 taxis in New York City are slated to accept Alipay in November this year.
“Paying for taxis can be one of the most stressful elements of traveling abroad, particularly if you don’t speak the language,” said Souheil Badran, President, Alipay North America. “By extending our partnership with Verifone to taxis in New York and Las Vegas, two of the most popular destinations in America for Chinese tourists, we are giving greater confidence to Chinese travelers that they will be able to pay for their taxi ride using the same convenient payment method they use at home, without language barriers.”
Alipay is China's leading online payment provider and the primary means of online and mobile payment for Chinese consumers. As millions of Chinese travelers continue to visit North America, the partnership makes it easy for Chinese shoppers to use their Alipay Mobile Wallet on Verifone devices.
“Chinese visitors to the U.S. are increasing in number every year and we are continuing to elevate the cashless payment experience by making it easy to pay inside American taxi cabs,” said Amos Tamam, Senior Vice President of Global Taxi Systems, Verifone. “Enabling Alipay acceptance is yet another example of leveraging our smart transportation platform to drive utilization of traditional taxis which offer the safety of licensed and professional drivers along with predictable pricing.”
Verifone and Alipay began partnering in 2016 to enable merchants in Europe and North America to accept Alipay in stores driving brand visibility, traffic and sales through its in-app marketing tool. With Verifone’s mobile point-of-sale, retailers can accept Alipay anywhere in the store and implement marketing campaigns targeting Chinese consumers who use the Alipay app. Verifone will be at Money20/20 USA, October 23-25, 2017.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for VeriFone Systems, Inc.
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs and on currently available competitive, financial and economic data and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the forward-looking statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other risks and uncertainties affecting the operation of the business of VeriFone Systems, Inc., including many factors beyond our control. These risks and uncertainties include, but are not limited to, those associated with: successful rollout of our taxi Alipay acceptance solution in Las Vegas and New York, execution of our strategic plan and business initiatives and whether the expected benefits of our plan and initiatives are achieved, short product cycles and rapidly changing technologies, our ability to maintain competitive leadership position with respect to our payment solution offerings, our assumptions, judgments and estimates regarding the impact on our business of the continued uncertainty in the global economic environment and financial markets, our ability to successfully integrate acquired businesses into our business and operations, our ability to protect against fraud, the status of our relationship with and condition of third parties such as our contract manufacturers, distributors and key suppliers upon whom we rely in the conduct of our business, our dependence on a limited number of customers, the conduct of our business and operations internationally, our ability to effectively hedge our exposure to foreign currency exchange rate fluctuations, and our dependence on a limited number of key employees. For a further list and description of the risks and uncertainties affecting the operations of our business, see our filings with the Securities and Exchange Commission, including our annual report on Form 10-K and our quarterly reports on Form 10-Q. We may also provide material information about us on our investor relations website at www.ir.verifone.com, in company press releases and in social media postings. The forward-looking statements speak only as of the date such statements are made. Verifone is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.
About Alipay
Operated by Ant Financial Services Group, Alipay is the world’s largest mobile and online payment platform. Launched in 2004, Alipay currently has over 520 million active users and over 200 domestic financial institution partners. Alipay has evolved from a digital wallet to a lifestyle enabler. Users can hail a taxi, book a hotel, buy movie tickets, pay utility bills, make appointments with doctors, or purchase wealth management products directly from within the app. In addition to online payments, Alipay is expanding to in-store offline payments both inside and outside of China. Over 10 million brick-and-mortar merchants now accept Alipay across China. Alipay’s in-store payment service covers more than 30 countries across the world, and tax reimbursement via Alipay is supported in 24 countries and regions. Alipay works with over 250 overseas financial institutions and payment solution providers to enable cross-border payments for Chinese travelling overseas and overseas customers who purchase products from Chinese e-commerce sites. Alipay currently supports 27 currencies. Follow us on Twitter @antfinancial and @alipay.
About Verifone
Verifone is transforming every day transactions into new and engaging opportunities for merchants and consumers at the last inch of payments and commerce. Powered by a growing footprint of more than 30 million devices in more than 150 countries, our people are trusted experts working with the world’s best-known retail brands, financial institutions, and payment providers. Verifone is connecting more products to an integrated solutions platform to better meet the evolving needs of our clients and partners. Built on a 35-year history of uncompromised security, we are committed to consistently solving the most complex payment challenges. Verifone.com | (NYSE: PAY) | @verifone.
