News

VeriFone, Xpient partner on PaaS tool

BY Dan Berthiaume

San Jose, Calif. — VeriFone Systems, Inc. is partnering with Xpient Solutions to provide payment-as-a-service (PaaS) solution for quick service restaurant (QSR) and fast-casual dining markets. The solution enhances security through payment system isolation and end-to-end encryption while providing a pathway to EMV and NFC payment acceptance at the point-of-sale (POS).

IRIS is a flexible POS application from Xpient Solutions. Integration of Xpient’s platform with the VeriFone Point PaaS solution enables restaurant operators to future-proof payment infrastructure for EMV and NFC payment acceptance while enhancing data security with a SRED and PCI PA DSS certified end-to-end encryption solution.

The Xpient system is complemented by the customizable VeriFone Point platform, which includes the following features:

VeriShield Total Protect: An end-to-end encryption and tokenization solution that protects retailers’ brands and reduces PCI complexity by eliminating usable cardholder data at the point of swipe.

VeriFone HQ: A solution that reduces estate management complexity, protects POS investments, and reduces total cost of ownership by keeping systems consumer-ready through remote diagnostics, device management and content management.

“We understand the challenges facing restaurants and their service providers when it comes to protecting customer data and having the technology in place to accept future payment types,” said Jennifer Miles, president, VeriFone Americas. “Through our partnership with Xpient, restaurants now have the flexible and reliable bundle of best-in-class hardware, software and services they need to quickly and easily adapt to changing security mandates and bolster their point of sale to accept EMV credit cards, mobile and other types of alternative payments.”

The platform is available on all VeriFone terminals, including mobile devices, and offers restaurants the flexibility to select any processor they choose.

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FINANCE

Tiffany names healthcare exec new CFO; Fernandez to retire

BY Dan Berthiaume

New York — Ralph Nicoletti, executive VP and CFO of healthcare services and insurance provider Cigna, will become the next executive VP and CFO of Tiffany & Co. His appointment to those offices will become effective on April 2, 2014.

James N. Fernandez, current COO and CFO of Tiffany, will retire in July 2014. Fernandez, a 30-year veteran of Tiffany, has been COO since 2011 and has been CFO since November 2013 and also served as CFO from 1989 to 2011. Upon his retirement, the title of COO will be eliminated and, instead, Tiffany’s senior VP of global operations and customer service and the senior VP of manufacturing, diamonds and gemstones will report directly to Michael J. Kowalski, chairman and CEO.

Nicoletti, 56, will be based in New York and responsible for the company’s worldwide financial functions and information technology. He will report to Michael J. Kowalski, chairman and CEO. Prior to his role with Cigna, he was executive VP and CFO at Alberto Culver and held various financial management positions at Kraft Foods.

“We have made key management additions to our organization in recent years,” said Kowalski. “Our first-class finance and IT functions and Ralph’s leadership experience and global perspective will be valuable to Tiffany’s continued worldwide expansion.”

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News

Tiffany taps healthcare exec as new CFO

BY CSA STAFF

Tiffany & Co. has appointed Ralph Nicoletti as its next EVP and CFO, effective April 2. He steps into the CFO role following current chief operating officer and CFO James N. Fernandez’s plans to retire in July.

Nicoletti will be based in New York and responsible for the company’s worldwide financial functions and information technology. He will report to chairman and CEO Michael J. Kowalski

Nicoletti joins Tiffany from global health services and insurance company CIGNA, where he served as EVP and CFO since June 2011. Prior to that, he served as EVP and CFO of Alberto-Culver in Chicago, a major manufacturer and marketer of personal care and household brands acquired by Unilever Group.

Nicoletti’s career began in 1979 with General Foods, which was acquired by Altria Corp. and later combined with Kraft Foods, where he held a number of accounting, finance and auditing roles of increasing responsibility. He has a bachelor’s degree and MBA from Pace University.

“We have made key management additions to our organization in recent years,” said Kowalski. “Our first-class finance and IT functions and Ralph’s leadership experience and global perspective will be valuable to Tiffany’s continued worldwide expansion.”

Fernandez has been CFO since the resignation of the previous CFO last November and had also served as CFO from 1989 to 2011. A 30-year veteran of Tiffany, Fernandez has been Tiffany’s chief operating officer since 2011. Upon his retirement, the title of chief operating officer will be eliminated and, instead, Tiffany’s SVP of global operations and customer service and the SVP of manufacturing, diamonds and gemstones will report directly to Kowalski.

“Jim Fernandez has made enormous contributions to Tiffany’s financial success and global expansion over the past three decades,” added Kowalski. “In addition to his extraordinary leadership of the financial and information technology organizations at Tiffany, Jim also played a critical role in building a world-class distribution, manufacturing, and diamond-sourcing infrastructure. I, along with all my Tiffany colleagues, will be forever grateful for Jim’s immense contributions to the company’s success, his always wise counsel and his enduring friendship.”

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