One of the largest banks in Australia and New Zealand has announced that will leverage payment hardware and technology company, Verifone to manage its entire merchant payment system offering in Australia. According to the deal, Westpac Group’s Australian-based institutions—including St.George, Bank of Melbourne and Bank SA—will be the first institutions in Asia Pacific to offer the VX 690 terminal, which is fully backed by Verifone’s payment as a service platform and can accept EMV, NFC and mobile wallet payments among other features.
Commenting on the deal, Peter McLeod, GM, Australia and New Zealand, Verifone said,
“This new platform provides Westpac Group a core end-to-end solution to help solve payment challenges for merchants, enhance the customer experience and easily go to market with additional payment products and services in the future.”
Verifone has made it very public that the company is transitioning from its historical position as one of the leading payment hardware providers in the industry to more of an omni-channel technology provider that can service a broad range of payment industry participants. With each of Westpac’s merchants receiving full management support through Verifone’s Payment as a Service platform and support via call center and field support services it highlights that Westpac believes that Verifone’s transition will enable them to be a very successful and trusted partner and drive further value add in the merchant-acquirer relationship.
Overview by Tristan Hugo-Webb, Associate Director, Global Payments Advisory Service at Mercator Advisory Group
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