VeriFone, ITS bring payment solutions to Saudi Arabia
Countertop VX 520 and portable VX 675 certified by Saudi Arabian Monetary Agency
VeriFone Systems, Inc announced today the introduction of two EMV-ready (Europay, MasterCard and Visa) payment terminals to the Kingdom of Saudi Arabia market with its partner, International Turnkey Systems Group (ITS), an integrated IT solutions and software services provider.
The terminals are part of Verifone's VX Evolution range, its latest line of portable and countertop terminals.
The Saudi Arabian Monetary Agency (SAMA), the kingdom's central bank, has certified VeriFone's VX 520 countertop payment system and its VX 675 wireless handheld payment device. SAMA oversees the Saudi Payments Network (SPAN), the payment system in the Kingdom of Saudi Arabia that connects all ATM and point of sale (POS) terminals.
"VeriFone is committed to providing leading-edge, certified terminal solutions to meet the needs of our clients in key markets," said Bulent Ozayaz, president of Southern Europe, Russia, Middle East and Africa for VeriFone. "Working in partnership with ITS, we are able to continue to extend our global payments industry leadership into the kingdom and ultimately throughout the region."
ITS assisted in developing SAMA's high-level information security system, the Saudi Arabian Riyal Interbank Express (SARIE), which provides the mechanism for all Saudi commercial banks to make and settle payments in Saudi Riyals (SAR).
"VeriFone's advanced payment terminals provide the latest capabilities and most robust security to meet the needs of banks and merchants throughout the kingdom," said Mohamed Nigm, sector service manager of Saudi Arabia for ITS, which will provide local distribution and support. "VeriFone solutions provide a wide range of communications options that meet the needs of virtually any merchant in the Saudi market."