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First Data Corporation has selected US electronic payments company VeriFone (NYSE: PAY) as the exclusive provider of point-of-sale (POS) payment acceptance systems in the Caribbean, the former said in a statement.
First Data is partnering with VeriFone to develop applications for VeriFone's Vx Solutions and VX Evolution countertop, wireless and PIN entry systems.
"We selected VeriFone as our exclusive POS product offering in this region as their devices go beyond traditional magnetic stripe transactions by providing advanced EMV card processing, which increases a merchant's security and authentication measures to help reduce fraud," said First Data's senior VP for Central America and the Caribbean, Phil Steurer.
VeriFone provides solutions and services that add value to the POS, with payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets.