The Company designs, markets and services transaction automation systems that enable secure electronic payments among consumers, merchants and financial institutions.
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Everywhere you take out your credit card and swipe it (almost) you'll see Verifone's name. It's gonna be a big time stock at some point.
It has been a big time stock but now it is on the wane. VeriFone cannot compete with the new low cost entrants using iPhone and iPad (e.g. Square) because it has tied itself to hardware provision and bespoke software. That is not the way the world is heading and small, smarter, cheaper. Once Google wallet and the like are rolled out it will be increasingly easy to bypass the traditional payment hardware like that sold by VeriFone. The HYC acquisiton has made things worse - there is too much hardware in the VeriFone stable with multiple operating systems to support and confusing choices for retailers