VeriFone Systems and Gemalto today announced further developments in their broad strategic partnership for the development of EMV solutions.
First announced in October 2010, the partnership entails cooperative efforts in EMV chip card solutions, the handover of Gemalto’s point of sale (POS) solutions business to VeriFone, and Gemalto’s appointment as the preferred supplier of Machine-to-Machine (M2M) wireless modules and related solutions for VeriFone payment systems.
According to the Gemalto, the companies today began discussing initial plans for joint introduction of EMV chip and pin solutions for the U.S. market.
Furthermore, the parties have finalized the transfer of the POS solutions business, with closing effective Dec. 31 and VeriFone has assumed the fulfillment of existing customer relationships and product requirements for Gemalto POS customers, who are mainly located in the Middle East, South Africa and India. Concurrently, Gemalto has been designated VeriFone’s preferred supplier of M2M wireless modules and related solutions. No financial terms were disclosed.