About Verifone Systems, Inc.

"Don't trust, but Verifone" would be the twist Verifone might put on the "Trust but Verify" proverb used in arms negotiations. The company is a leading supplier of electronic payment hardware and software for merchant-operated, consumer-facing, and self-service payment systems. Its products include point-of-sale (POS) software and terminals, smart card and check readers, receipt printers, and Internet commerce software. It also provides installation, training, and other services. Customers include companies in the hospitality, retail, and healthcare markets, as well as government agencies. VeriFone generates more than 70% of sales outside the US.

Geographic Reach

The US is VeriFone's largest single market, accounting for more than a quarter of sales. Brazil, where the electronic payment card industry is quickly growing, contributes about 11% of sales.

Outside the US it has offices in France, India, Brazil, Israel, Sweden, Philippines, New Zealand, Taiwan, China, Germany, Denmark, Norway, Singapore, Australia, Mexico, Finland, South Africa, the UK, and Latvia.

Sales and Marketing

With clients ranging from small merchants to government-sponsored payment processors, VeriFone augments its direct sales force with a network of distributors, resellers, and systems integrators.

Financial Performance

VeriFone's revenue increased 10% in 2014, recharging sales growth that stalled in 2013. Revenue reached $1.87 billion in 2014 from $1.7 billion in 2013. Its systems solutions segment benefited from customers refreshing their technology and governments expanding cashless payments. Also, the timing of purchases by customers that worked against VeriFone in 2013 worked for the company in 2014 as deals were consummated. While VeriFone lost money in 2014, $37 million below break even, the loss was not as bad as the $296 million loss posted for 2013.


VeriFone has benefited from a general trend away from cash and check transactions toward electronic credit and debit payments. In addition to credit and debit card readers, the company has developed systems that handle radio-frequency identification (RFID) cards, mobile phone transactions, gift cards, electronic bill payments, signature capture, and benefits transfers.

The trend toward cashless payments has drawn competition to the market, much of it aimed at the small and medium business (SMB) market. In 2015 VeriFone offered its Payment-as-a-Service (PaaS) products to the SMB market in North America, where it had been available onto the big businesses. PaaS moves the payment management functions to cloud-based computers.

VeriFone began working with First Data to help merchants move quickly to accept credit and debit cards enabled by computer chips, which are more secure than previous cards. Merchants are interested in the chip-enabled cards to due to consumer concern about fraud and the shift of responsibility to merchants for fraud from banks.

Mergers and Acquisitions

The company uses acquisitions to build out its product and technology portfolio while pushing into new geographies. In 2013 VeriFone bought two New Zealand businesses -- EFTPOS New Zealand and Sektor Payments, both of which provide payment solutions and managed services.

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Verifone Systems, Inc.

88 W Plumeria Dr
San Jose, CA 95134-2134
Phone: 1 (408) 232-7800
Fax: 1 (408) 232-7811


  • Employer Type: Public
  • Stock Symbol: PAY
  • Stock Exchange: NYSE
  • CEO and Director: Paul Galant
  • Chairman: Alex W. Hart
  • EVP and CFO: Marc E. Rothman

Major Office Locations

  • San Jose, CA

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