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Radiant Systems and Gilbarco Veeder-Root Announce Integration of Radiant POS with Gilbarco FlexPay™ Outdoor Payment Terminal
EMV-certified solution to be marketed to retailers in Europe, Asia, and Australia
ATLANTA (October 2, 2008) - Radiant Systems, Inc. (Nasdaq: RADS) announced today that the company has signed an agreement with Gilbarco Veeder-Root., a leading global supplier of fuel-dispensing systems, to integrate Radiant Point of Sale with the Gilbarco FlexPay outdoor payment terminal, a move that makes a secure, cost-effective pay-at-pump solution available for innovative retailers worldwide.
"In a growing number of markets around the world, consumers are now expecting the speed and convenience of paying at the pump," said Douglas Henderson, director of global product marketing for the global petroleum and convenience retail division at Radiant Systems. "This integration brings together two world-class products in one solution that is secure, fast, reliable, and easy to use."
To provide maximum safety for credit card data and transactions, Gilbarco Veeder-Root’s FlexPay outdoor payment terminal has level 1 and level 2 certifications through the consortium of Europay, Mastercard and Visa (EMV) and uses PIN pads that are approved by the Payment Card Industry council. The companies accomplished the integration between Radiant POS and Gilbarco FlexPay through Radiant’s fourth-generation Tiger forecourt controller and Gilbarco’s FlexPay software development kit, requiring no third-party devices and ensuring industry-leading transaction speeds at the dispenser.
Gilbarco Veeder-Root’s innovative “Over Legacy Cable” technology enables the FlexPay terminal and Tiger forecourt controller to communicate over older forecourt wiring, which distinguishes the FlexPay terminal from many other outdoor payment terminals that require rewiring of the forecourt. The Radiant POS and FlexPay terminal work together, allowing retailers the flexibility to introduce interactive marketing campaigns at the forecourt through a bright, color display on the FlexPay terminal.
“Gilbarco Veeder-Root is proud of our leading technology and open interfaces that allow our customers to build the solutions that are right for their businesses,” said Andrew Robinson, director, global payment business unit, at Gilbarco Veeder-Root. “Retailers will benefit from choosing the powerful combination of Radiant POS and Gilbarco Veeder-Root’s FlexPay.”
“It was a strategic decision for both companies to make this investment and jointly support technology innovation,” added Robinson.
About Radiant Systems, Inc.
Headquartered in Atlanta, Radiant Systems, Inc. (Nasdaq: RADS) is a global provider of innovative technology to the hospitality, retail, and entertainment industries. For more than two decades, Radiant's point of sale hardware and software solutions have helped to redefine the consumer experience in more than 100,000 restaurants, retail stores, stadiums, parks, arenas, cinemas, convenience stores, fuel centers and other customer-service venues. Radiant has offices in North America, Europe, Asia and Australia. For more information, visit www.radiantsystems.com.
About Gilbarco Veeder-Root
Gilbarco Veeder-Root is the leading suppliers of integrated fuel control, site management, and support services for petroleum marketers and commercial fueling enterprises worldwide. (www.gilbarco.com, www.veeder.com, www.gasboy.com). For more information visit www.gilbarco.com.
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future business development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the key risks, assumptions and factors that may affect operating results, performance and financial condition are the Company’s reliance on a small number of clients for a large portion of its revenues, fluctuations in its quarterly results, its ability to continue and manage its growth, liquidity and other capital resources issues, competition and the other factors discussed in detail in the Company’s periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.
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