News

Finland retail co-op using VeriFone's PaaS solution

August 15, 2012

VeriFone Systems Inc. announced it has won its largest to date payments-as-a-service contract with an agreement to supply a complete range of payments services to Finland's S Group's 1,600 locations.

S Group, a cooperative retail company group comprised of the SOK Corporation and its subsidiaries and 21 regional and eight local cooperatives, has more than 2 million members and 40,000 employees. S Group spans market segments for grocery and consumer goods, petro service station and fuel, travel industry and hospitality business, automotive and accessories trade and the agricultural trade, Mika Arponen, senior manager and head of Payment Services with S Group, said in a company press release.

"VeriFone presented us with a superior payments solution that meets the diverse needs of our business units," he said. "The payment process is very critical to support our business process and continuity. Cooperation with VeriFone provides us the opportunity to offer our customers the future of new payment methods such as contactless and mobile payments."

VeriFone will provide a comprehensive PaaS offering including software, estate management, maintenance, integration, security and gateway services. The agreement also includes new payment systems that account for about 15 percent of the total contract value.

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