A reminder today that big companies often have trouble mirroring the efforts of companies disrupting their spaces: Payment industry giant VeriFone is killing its Square competitor Sail, which just launched in May, thanks to costs that didn’t make the “razor-thin margins” it was seeing from its small merchant customers worthwhile. VeriFone announced the closure of its dongle-based mobile… → Read More
VeriFone is no small player in the payments world—the company, which is worth over $3 billion, is actually the largest provider of in-store credit card processing payments terminals in the U.S. But faced with the competitive strength of fast growing mobile payments company Square, as well as other players like PayPal, VeriFone is currently on an uphill battle to prove that it can be part of the… → Read More
We’ve already written a few times about how Stitch Labs helps small, independent merchants manage their sales operations across a wide range of online marketplaces. Well now it’s making it easier to connect their online and offline sales, through a partnership with Verifone’s Sail payment processing system.
With the Sail integration, Stitch customers will be able to sell their goods, process… → Read More
VeriFone, which offers a Square competitor and mobile payments platform PAYware, is reporting that U.S. transaction volume for its payments gateway has achieved an annual rate exceeding $10 billion.
Keep in mind, this includes both its payments gateway, as well as VeriFone’s PAYware Mobile offering, which allows merchants to accept payments via a software-hardware combo from smartphones. → Read More
Straight on the heels of showing off their new mobile payments system, the carriers leading the Isis joint venture have announced new partnerships with payment solutions providers. At Mobile World Congress Isis revealed partnerships with Chase, Capital One and Barclaycard, and it seems we’ll now be adding Verifone, Ingenico, VivoTech, and Equinox to the list.
This should help spread the mobile… → Read More
VeriFone is on a bit of an acquisition spree. After purchasing payments software developer Global Bay, the payments company is acquiring European e-payments giant Point for $820 million. The acquisition is expected to close at the end of 2011. VeriFone will also assume $230 million worth of debt from Point, making the the total transaction volume over $1 billion.
Point, which was sold by… → Read More
Yesterday was a big day for hot mobile payments startup Square. The company announced that it received a strategic investment from Visa, giving the company a big stamp approval. And it also announced something that got far less attention: Square will be releasing a new card reader (the thing you plug into your phone) this summer, and it will use encryption at the read head. The news was announced… → Read More
Mobile payments are finally taking off right now. But it is not mobile wallets for consumers with NFC-chipped mobile phones leading the way. It is payment apps for small merchants like those made by Square and Intuit’s GoPayment. Tonight at an Intuit showcase in New York City, I got a sneak peak at several new Intuit products still in development, including an upcoming GoPayment tablet app that… → Read More
“First they ignore you, then they laugh at you, then they fight you, then you win.” -Mahatma Gandhi
A couple weeks ago, VeriFone went after a much smaller competitor in a very public way. It accused Square, Jack Dorsey’s mobile payments startup, of a serious security hole which turned out to be not particularly serious at all. VeriFone was trying to spread major FUD (Fear, Uncertainty, and… → Read More
As we heard this morning, VeriFone CEO Doug Bergeron wrote an open letter to consumers and the industry, warning users of a “gaping security hole” in mobile payments startup (and competitor) Square’s hardware. Bergeron actually went so far as to ask Square to recall all of its card readers and even contacted all of the major credit card companies, including Visa, MasterCard, American Express… → Read More
Mobile payments are heating up and companies are taking ruthless steps to knock down competitors. Today, VeriFone is claiming that Square’s mobile payments processor contains a serious security threat to credit cardholders and businesses.
In an “open letter,” VeriFone CEO Doug Bergeron warns consumers and the industry of a serious security threat with Square’s card reader and calls on Square to… → Read More
Electronic payments solutions company VeriFone Systems has just announced the acquisition of Hypercom, a company that sells secure electronic payment and digital transaction technologies. The deal is an all-stock transaction valued at approximately $485 million. The deal is expected to close in the second half of 2011.
Hypercom’s products range from countertop and mobile card payment terminals… → Read More
VeriFone Systems this morning announced a deal with electronic payments giant PayPal that sounds like bad news for Twitter inventor Jack Dorsey‘s latest venture, Square.
VeriFone, which offers solutions that enable electronic payment transactions and related services at points of sale, will extend mobile payments acceptance with PayPal and integrate traditional card payments with its new… → Read More
Electronic payment solutions provider VeriFone Systems this morning announced it has acquired the assets of WAY Systems, a provider of mobile POS solutions and gateway services for mobile merchants.
The purchase price consisted of an upfront payment of $6 million and an earn-out payable in one year of up to an additional $3 million dollars should certain performance targets be met.
VeriFone says… → Read More
Earlier today, testers of the new mobile payment service, Square, got a scare.
Emails were sent out suggesting that users had changed their bank account information, and Square was emailing to let them know that the new account was verified. The only problem? These users didn’t actually change a thing. Obviously, this caused some concern, as did the note at the bottom of the email, “If you have… → Read More
It’s no secret that VeriFone hopes to eliminate mobile startup Square before it even officially launches. Not only did they unveil their PAYware Mobile credit card-reading device just a week after Square made headlines with its unveiling, but they almost immediately started a major advertising push in places such as New York City cabs. And now they have perhaps their strongest weapon yet in the… → Read More
Remember that awesome video that was made for the Twitter iPhone app Birdhouse last year (if not, watch it)? Well, that guy, Adam Lisagor (aka LonelySandwich) is back at it again, this time for the mobile payment startup Square. In the two minute and 18 second video below, Lisagor quickly and easily walks you through what Square is and how to get it up and running.
This video is exactly the type… → Read More
When the mobile payment service Square launched in December, VeriFone rushed to get its own version on the market. A couple weeks ago, they accomplished that with the launch of PayWARE Mobile. Now they’re looking to take out their competitor the good old fashioned way: out-spending them.
VeriFone is already heavily advertising its PayWARE Mobile product with huge ads in New York City taxis. As… → Read More
As we noted back in December, VeriFone wasn’t just going to sit back and let Square, the new startup by Twitter creator Jack Dorsey, dominate the iPhone/iPod touch payment space. Unfortunately, their announcement of PAYware Mobile looked rushed (and Photoshopped), and Dorsey himself didn’t seem too worried. Since then though, VeriFone was nice enough to send us the hardware they are going to use… → Read More
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