VeriFone (PAY -6.6%) trades lower with reports out tipping off that mobile payments upstart...

|About: VeriFone Systems, Inc. (PAY)|By:, SA News Editor

VeriFone (PAY -6.6%) trades lower with reports out tipping off that mobile payments upstart Square is closing in on finalizing a deal to equip close to a thousand New York City taxis with its devices. The battle for NYC cabs between Verifone and Square heated up over the last few months with Mayor Bloomberg even spotted testing Square's credit card reader for himself recently.