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About Verifone Systems, Inc.

Verifone Systems started as a pioneer in cashless payment, securing checks and credit cards through digitization. The company makes it simple for brands to create their customer journeys through software applications it engineers with business needs and consumer lifestyles in mind. Verifone Systems makes Consumers want personalized experiences that let them shop where they want, how they want, when they want – on a digital device or in a store. We make it simple for brands to create their customer journeys through software applications we engineer with business needs and consumer lifestyles in mind. It also provides installation, training, and upgrades. Verifone's devices process around 10.3 billion transactions a year.

Operations

Verifone offers point of sale Device Services, Software Services, and Managed Services.

The Device Services is a single source provider that understands the needs of tits customer before, during and after the sale. It is also an established supply chain that is constantly on the move, providing fast and efficient service. The Software Services provides configuration management where all software configurations is in a single secure library available for updates and downloads at the click of a mouse, and online tools which manage certificates and keys, to make it easy to shift as business needs change. The Verifone's managed services is flexible and sustainable simplifying operations for merchants while providing flexibility with long-term sustainability. It offers Quality services through innovative technology provides merchants - and their customers - a smooth journey, and realize savings in time and dollars through managed services that are easily implemented locally or globally. Other offerings include installation and deployment, on-site support support, repairs, and training.

Geographic Reach

Verifone is headquartered in San Jose, California and has several offices and research facilities in the US. Internationally, the company has facilities in Africa, Europe, Asia, and Australia. Its products are used in more than 150 countries.

Strategy

Verifone had benefited from a general trend away from cash and check transactions toward electronic credit and debit payments. As the retail experience is transforming and customers are now in control of the relationship, Verifone acknowledges that the customer journey is omnichannel and complex and is ensuring of ways to stay one step ahead of the competition.

Verifone aims to simplify managing payments, going beyond the checkout counter, and transforming the retail experience with its various services such as Verifone Cloud, Point Classic, Point Enterprise, Verifone RTS, and FIPay Enterprise. These services are accompanied by various devices such as Verifone's Multilane, countertops and PIN pads, kiosks, Carbon, mPOS, and portables and transportables.

Company Background

Scholar William Melton founded VeriFone in Hawaii in 1981 to develop electronic mail systems that would keep traveling employees in touch with their offices. By 1984 the company had diversified into transaction automation systems, introducing the first low-cost electronic credit card and check verification terminal. Former Sperry (now Unisys) executive Hatim Tyabji joined as president in 1986 and moved the company to California. He guided VeriFone away from hardware and toward software-driven systems to connect computers, printers, operating systems, and terminals.

VeriFone went public in 1990. The next year it released transaction systems that incorporated point-of-service tasks with inventory control and other functions. In 1992 VeriFone introduced an electronic cash register that verified checks and accepted credit and debit card payments. Melton devoted his energies in 1994 to founding (now defunct) Internet payment services company CyberCash.

In 2018, Verifone was bought by Francisco Partners, a private equity firm, for $3.4 billion and became a private company.

Verifone Systems, Inc.

2560 N 1st St Ste 220
San Jose, CA 95131-1041
Phone: 1 (408) 232-7800

Firm Stats

Employer Type: Publicly Owned
Chairman: Alex W. Hart
EVP and CFO: Marc E. Rothman
COO: Sheetal Shah
Employees (This Location): 61
Employees (All Locations): 5,600

Major Office Locations

San Jose, CA

Other Locations

Lincoln, CA
San Diego, CA
Santa Clara, CA
Clearwater, FL
Miami, FL
Alpharetta, GA
Chicago, IL
Las Vegas, NV
Humble, TX
Barueri, Brazil
Pasig, Philippines