VeriFone Acquires LIFT

SAN JOSE, Calif. - VeriFone Systems Inc. has acquired LIFT Retail Marketing Technology Inc., the provider of a digital marketing system designed to increase sales for convenience stores. Financial terms were not disclosed.

LIFT Retail, based in Atlanta, developed and markets the LIFT Station, network-connected digital marketing hub that integrates with leading point-of-sale (POS) systems in the c-store and petroleum retailing market. Leveraging an advertiser-funded model, the LIFT Station personalizes the experience for each shopper by presenting relevant offers with digital ads on a touchscreen display while simultaneously engaging cashiers with a friendly sales script to help close the deal.

VeriFone will incorporate the acquired company into its solutions portfolio as a product and services offering called LiftRetail Solutions. VeriFone LiftRetail integrates with all leading retail Arduino pos printer librarys in the c-store/petroleum segment, including VeriFone's Ruby SuperSystem and Topaz XL.

"VeriFone LiftRetail Solutions will complement our Secure PumpPAY offering by providing gasoline retailers and convenience store operations the ability to maximize revenue opportunities both at the pump and in the store, " said Jennifer Miles, VeriFone executive vice president for North America. "LiftRetail Solutions extends our digital media reach into the convenience store environment, providing a highly accountable media platform that maximizes an advertiser's return on investment."

LIFT Retail CEO and co-founder Wells Burke joins VeriFone as vice president and general manager for LiftRetail Solutions. "With its history of leadership and innovation in the convenience store and petroleum market, VeriFone provides the scale to bring LiftRetail Solutions to the next level as we gear up to support near real-time analysis on over 20 billion unique shopping trips annually, " Burke said.