Pumps & Payment Partnership Pairs Tech Titans
Gilbarco, VeriFone collaboration will also create major interactive digital media network
GREENSBORO, N.C. & SAN JOSE, Calif. --Gilbarco Veeder-Root, a leader in retail petroleum technology, and VeriFone Systems Inc., a leader in secure electronic payment solutions, are partnering to offer next-generation forecourt payment solutions and to create the largest at-pump interactive digital media network worldwide.
The two companies will collaborate on future fuel dispenser payment platforms to be developed and supplied by VeriFone. They said that the solutions will meet convenience and fuel retailers' functionality and regulatory needs in an increasingly complex payment ecosystem, as well as offer at-pump media advertising and entertainment.
As reported in a 21st Century Smoke/CSP Daily News Flash, Gilbarco will become the software and solutions integration lead and sales and service provider for forecourt payment systems developed under the partnership.
The companies will work together to transition the payment electronics in Gilbarco's global dispenser product lines to VeriFone technology; however, both companies will continue to develop and market their point-of-sale (POS) systems for the petroleum and convenience store market independently.
Click here for a Q&A with an Yienger, senior vice president of VeriFone, and Martin Gafinowitz, president of Gilbarco Veeder-Root.
With the Europay, MasterCard & Visa (EMV) liability shift deadlines rapidly approaching, forecourt payment system upgrades are an imperative for convenience stores to avoid taking on liability for fraudulent payment card charges. Not only do retailers' payment systems need to comply with EMV, but many will elect to accept alternative payments as more consumers adopt new services to pay with their smartphones.
Globally, Gilbarco and VeriFone have more EMV payment terminals in the field than any other industry provider, they said, with a substantial EMV-capable installed base in the United States and terminals enabling EMV payment acceptance in Europe and Canada.
In addition, Outcast Media, Gilbarco's forecourt media business, and Applause TV, Gilbarco's gas station TV network, will be merged with VeriFone's digital media and VeriFone Digital Network (VNET) businesses. The VeriFone and Gilbarco partnership will create the industry's largest and most powerful interactive digital media network.
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