News

VeriFone sets sights on big systems upgrades in U.S., Canada

September 4, 2006

Digital Transactions: Payment-terminal marketer VeriFone Holdings Inc. says it still sees plenty of opportunity for growth at home. In spite of the San Jose, Calif.-based company's pending acquisition of Lipman Electronic Engineering Ltd., a payments company with a strong market share in Europe and Asia, Verifone sees big opportunities for North America. Verifone chairman and chief executive Douglas G. Bergeron says North America is fertile ground for upgrades from dial-up to IP. "We're told by the people who are paid to count this stuff that the vast majority of the U.S. payment marketplace outside of big-box retail and grocery is still predominantly dial-up." Because of Canada's planned shift toward chip-based payment cards next year, Bergeron said opportunities exist to upgrade 570,000 systems.