Verifone UK LTD Bank statement

ISTANBUL--Lebanon is emerging as one of the Middle East’s leading markets introducing innovative cashless payment solutions. As part of the country’s retail infrastructure upgrade, Verifone (NYSE: PAY), a world leader in payments and commerce solutions and Bank Audi, Lebanon’s largest bank, will provide thousands of merchants with point-of-sale (POS) devices designed to bring new payment and commerce capabilities to the country’s expanding retail market.

“We are delighted to offer the new and easy to install Verifone devices that enable our merchants to benefit from contactless and mobile payment acceptance, ” said Randa Bdeir, Group Head of e-Payment Solutions and Card Services at Bank Audi. “Ultimately we are providing consumers with better, faster and more convenient ways to pay and this is a great complement to our strong card business. Verifone’s commerce-enabled devices will encourage the uptake of new POS-based services in Lebanon including e-loyalty and targeted promotions for a more personalized shopping experience.”

Supporting Bank Audi’s merchant services in both countertop and mobile retail sales environments, the Verifone VX520 and VX680 devices will enable contactless with NFC (Near-Field Communication) acceptance and value-added applications that help to increase consumer loyalty and repeat business. Ergonomically designed, they offer high transaction processing speed for fast consumer checkout and better experiences.

“As Lebanon’s premier bank, Bank Audi is a pioneer and market leader in cards and e-payments, offering some of the most innovative merchant solutions, ” said Özgür Özvardar, vice president and general manager, Verifone MENA. “We are helping to accelerate their vision for building the next generation retail infrastructure as Lebanon moves towards service-rich mobile and cashless payments.”

Verifone’s local representatives and team of technical experts, based at its regional headquarters in Istanbul, Turkey, will support this deployment which is expected to begin in the second part of 2016.