A Street-Level View of Gilbarco-VeriFone Deal
Execs offer details on how partnership will benefit motorists, retailers, advertisers
GREENSBORO, N.C. & SAN JOSE, Calif. -- Convergence and scale. That is how Gilbarco Veeder-Root and VeriFone Systems hope to transform the forecourt with their new technology, sales and service partnership that promises to bring new levels of secure payment and digital content to the evolving gasoline dispenser at gas stations and convenience stores around the globe.
In an Q&A with CSP Daily News ahead of the partnership's announcement, Dan Yienger, senior vice president of VeriFone, San Jose Calif., and Martin Gafinowitz, president of Gilbarco Veeder-Root, Greensboro, N.C., explained the strategy behind the agreement and how it will work.
Q: What are the basic parameters of the deal?
DY: Verifone and Gilbarco are partnering to bring the next generation of forecourt payment to the [retail petroleum] industry. VeriFone will be co-developing products with Gilbarco that we will be supplying to Gilbarco to be included in their dispensers for payments and media. We will be working cooperatively to develop enhanced technology that will come into the dispenser over the next year and several years.
Q: How will this partnership manifest itself at the dispenser, and how will it affect motorists and their fueling experiences at the pump?
DY: We will be merging the Gilbarco-owned company Outcast in with VeriFone Media, creating VNET, which Day One will be approximately 26,000 media-enabled screens in the North American market. These screens reach about 80 million customers per month. We're looking forward to using this technology to engage customers with relevant content, whether that is CPG offers in the store or news, weather and information. We're excited about growing this media network and making the extensive experience with secure payment being first, but having the enhanced media offering to engage customers while they are fueling up their vehicles.
MG: As we look to a world where all the devices are getting smarter, it's our mission to ensure that are customers are in a position to take advantage of all these technologies. The combination of VeriFone and Gilbarco in this way is really going to help us realize that mission and bring benefit to our customers, whether it's new ways to pay, whether it's new devices to consumers. There are high levels of security on the payment devices themselves, which is obviously a huge issue with EMV.
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