35 Facts About Verifone

Verifone is an American multinational corporation headquartered in Coral Springs, Florida.

Verifone provides technology for electronic payment transactions and value-added services at the point-of-sale.

Verifone sells merchant-operated, consumer-facing and self-service payment systems to the financial, retail, hospitality, petroleum, government and healthcare industries.

On November 3,2014, The company unveiled a new corporate logo, and brand identity that represents a new Verifone that is driving the future of commerce in a rapidly evolving digital world where electronic payments, commerce and mobility are converging.

Verifone offer payment technology expertise, and services that add value to the point of sale with merchant-operated, consumer-facing and self-service POS payment systems.

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Verifone has headquarters in Coral Springs, Florida; London, UK ; and Singapore and a presence in more than 45 countries.

Verifone was founded by William "Bill" Melton and incorporated in Hawaii in 1981, and named itself after its first product, the name standing for Verification telephone.

Since the late 1980s, Verifone has held more than 60 percent of the US market, and during the 1990s the company captured more than half of the international market for such systems.

Verifone has designed applications conforming to the Secure Electronic Transaction standards developed by Visa Inc and MasterCard.

Verifone has been working to marry the smart card to the Internet; in 1996, the company introduced the Personal ATM, a small smart card reader designed to be attached to the consumer's home computer, which will enable the consumer not only to make purchases over the Internet, but to "recharge" the value on the card.

Verifone has partnered with Key Tronic to incorporate a P-ATM interface directly into that company's computer keyboards.

The following year, Verifone moved its headquarters to Redwood City, outside of San Francisco.

Verifone went public in March 1990, raising more than $54 million.

Verifone had just placed its two millionth system a year ago.

Verifone moved to take the lead in the coming smart card revolution, teaming up with Gemplus International, a France-based maker of the cards, and MasterCard International to form the joint venture SmartCash.

Verifone introduced its Personal ATM, a palm-sized smart card reader capable of reading a variety of smart card formats, in September 1996, with the product expected to ship in 1997.

In 1995, Verifone began the first of its aggressive steps to enter an entirely new area, that of Internet-based transactions.

Verifone followed that acquisition with a $4 million investment in William Melton's latest venture, CyberCash Inc, working to develop Internet transaction systems.

In 2002 Verifone was recapitalized by GTCR Golder Rauner, LLC In 2005, Verifone was listed as a public company on New York Stock Exchange.

On November 1,2006 Verifone completed its acquisition of Lipman, and added both Dione and NURIT products to its portfolio for an undisclosed sum.

In September 2006 Verifone acquired some divisions of Irish terminal and payment services company Trintech Group plc – headquartered in Dublin with offices in Montevideo, Neu-Isenburg and London amongst other locations – in a 12.

Verifone, Inc is an international producer and designer of electronic payment methods and devices.

Verifone has sold numerous point-of-sale credit card reading products, including the ZON Jr, Tranz 330 and ZON Jr XL, Omni 460 and Omni 3200 which were the most successful transaction terminals of their times.

In 2004, Verifone introduced its newest line of products, Vx Solutions.

In 2005 Verifone released its first full color EFT-POS terminal, the MX 870.

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Verifone provides options designed to enrich the overall consumer experience, including an integrated PIN pad for faster transaction processing, integrated laser barcode imager, and functionality that facilitates sales services, such as 'on the spot' verification of merchandise availability or pricing.

Verifone has expanded this suite of products with its Secure PumpPAY range of payment devices and related software that integrate into petroleum dispensers and deliver secure payment capabilities.

In 2009, Verifone partnered with Hypercom and Ingenico to found the Secure POS Vendor Alliance, a non-profit organization whose goal is to increase awareness of and improve payment industry security.

In 2010 Verifone announced the VX Evolution product line, designed to PCI PED 2.

Verifone has strategically gained exposure to these growing markets and its 2008 revenue breakdown is a good indication of this.

Verifone expects the percentage of net revenues generated outside of the United States to continue to increase in the coming years.

Verifone's increased revenue from abroad has not increased its profit margins.

Verifone is one of the top three providers of electronic payment systems and services in the world.

Finally, Verifone competes with smaller companies that have been able to develop strong local or regional customer bases.

Verifone acquired a smaller competitor Hypercom in an all-stock transaction deal in 2011.