SAN JOSE, CA - November 3, 2009 - VeriFone Holdings, Inc. (NYSE: PAY) today announced that it will offer complete alternative support to merchants who are currently utilizing VeriFone payment solutions on Heartland Payment Systems' (NYSE: HPY) network.
VeriFone is taking action to prevent any disruption to merchants after determining that the pending litigation over Heartland's continual infringement of a VeriFone patent is likely to impact Heartland's ability to maintain service levels with its customers. VeriFone has informed Heartland that it will terminate its support relationships with Heartland, effective end of day December 31, 2009.
"It is imperative that VeriFone merchants continue to receive support to accept card payments without any disruption. VeriFone has a fiduciary duty to protect its intellectual property, but we have a thirty year reputation of quality that demands we protect our merchants first and foremost," said VeriFone CEO Douglas Bergeron. "Our extensive support desk resources will allow VeriFone to efficiently provide customers with a high level of service and shield them from the impact of litigation. We are making a special offer to provide this support free to all Heartland customers throughout the balance of their current Heartland processing agreement."
VeriFone estimates that 75 percent of Heartland customers in the retail, restaurant and petroleum markets rely upon VeriFone systems. VeriFone is encouraging merchants currently supported by Heartland to immediately begin making arrangements to receive technical support from VeriFone.
Heartland merchants need to register for this free support before December 15, 2009 to ensure uninterrupted continuation of support. This offer is absolutely free and is made only to ensure that any future technical support issues can be resolved expeditiously by VeriFone.
If you are a Heartland customer with a VeriFone product, please register today.
To register online, go to http://heartland.verifone.com.
To register by phone, call 1-888-887-8199.
About VeriFone Holdings, Inc. (www.verifone.com)
VeriFone Holdings, 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.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for VeriFone Holdings, Inc.:
This press release includes certain forward-looking statements related to VeriFone Holdings, Inc. within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on VeriFone management's current expectations or beliefs 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 Holdings, Inc. These risks and uncertainties include: the ability of VeriFone to successfully support Heartland Merchants, our ability to protect against fraud, the status of our relationship with and condition of third parties upon whom we rely in the conduct of our business, our dependence on a limited number of customers, uncertainties related to the conduct of our business internationally, our dependence on a limited number of key employees, short product cycles, rapidly changing technologies and maintaining competitive leadership position with respect to our payment solution offerings. For a further list and description of such risks and uncertainties, 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. 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.
