Gilbarco Veeder-Root, a retail petroleum technology company, and VeriFone Systems, which provides electronic payment products, today announced that they are partnering to offer next generation forecourt payment products and to create the largest at-pump interactive digital media network worldwide, according to a press release.

The two companies will collaborate on future fuel dispenser payment platforms to be developed and supplied by VeriFone, according to the announcement. The products are intended to meet convenience and fuel retailers' functionality and regulatory needs in an increasingly complex payment ecosystem, as well as offer at-pump media advertising and entertainment.

Gilbarco will become the software and solutions integration lead and sales and service provider for forecourt payment systems developed under the partnership, according to the announcement. The companies said they will work together to transition the payment electronics in Gilbarco's global dispenser product lines to VeriFone technology. However, both companies will continue to develop and market their point of sale systems for the petroleum and convenience market independently.

In addition, Outcast Media, Gilbarco's forecourt media business, and Applause TV, Gilbarco's gas station TV network, will be merged with VeriFone's digital media and VeriFone Digital Network (VNET) businesses.

"VeriFone's partnership with Gilbarco, the world's leading dispenser technology provider, is perfectly aligned with our terminal solutions and commerce enablement strategies and will allow us to offer the best payment and forecourt media solutions on the market to our clients around the globe," said Paul Galant, CEO of VeriFone. "Our collective expertise and access to consumer insights provide significant business value to our clients, helping them increase sales at the pump and in-store."

"Gilbarco's leadership in the convenience and petroleum vertical and VeriFone's expertise in secure payments and media engagement make this an ideal relationship," said Martin Gafinowitz, President of Gilbarco Veeder-Root. "Gilbarco has the largest installed base of outdoor payment systems in our industry, and combining our deep knowledge of systems and software integration with VeriFone's broad payment expertise will greatly benefit our customers."