VeriFone Systems, Inc. (NYSE: PAY) and Gemalto today announced a comprehensive strategic partnership:
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- The two companies will jointly pursue new chip card solutions based on the global EMV payment standard, particularly as U.S. retailers and card networks increasingly acknowledge chip card and contactless technologies as a core component of a comprehensive security infrastructure.
- The two companies are also in exclusive discussions for VeriFone to acquire Gemalto's point of sale (POS) solutions business.
- Gemalto to be the preferred supplier of Machine-to-Machine (M2M) wireless modules and related solutions for VeriFone payment systems.
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