VeriFone (PAY +10.5%) tacks on a gain after announcing it landed a two-year contract to provide managed services for as many as 100K POS payment devices operated by ChinaPnR. The deal will see the company handle complex payment devices for ChinaPnR in a market expected to boom. [View news story]
China is a huge market, but will it be profitable for VeriFone is a question.
Susquehanna upgrades VeriFone (PAY +7.5%) to Positive following news long-time CEO Douglas Berenson is out. The firm thinks VeriFone might now be an M&A target, and also foresees an upgrade cycle for EMV payment systems. Wedbush also likes the move, but is more cautious. "We believe the new CEO and new CFO Marc Rothman will need to repair the damage their predecessors have left behind, which could lead to further negative developments ... over the next few months/quarters." [View news story]
People forget that Doug Bergeron took this loss company from HP and the stock reached $50 per share. I remember when the stock reached $2 per share he brought it to the low $40s. As for Bob Dykes, former CFO, he came in after the VeriFone has a restatement, material weakness plus a major morale issue and he corrected this mess. Both individuals were hard to work with, but the task at hand was very difficult. The company is not so bad off and if Verifier beats estimates in the future the new CEO & CFO will get the credit, but we should not forget the contributions of their predessors.
Verifone (PAY), whose payment-processing hardware sales are threatened by Square's emergence, is set to introduce a mobile credit-card reader of its own. Called SAIL, the solution will normally charge a 2.7% fee (slightly below Square's 2.75%), but a 1.95% rate will be offered to high-volume customers. Verifone benefits from having millions of customers to cross-sell to, though Square's rapid growth and seamless end-to-end solutions will make it tough to challenge. (also) [View news story]
After months of down grading Square as not important, etc. it is interesting to see that VeriFone comes out with a competing product. I don't think Square is a big threat to VeriFone's position in the market place, but you never know.
VeriFone (PAY +10.5%) tacks on a gain after announcing it landed a two-year contract to provide managed services for as many as 100K POS payment devices operated by ChinaPnR. The deal will see the company handle complex payment devices for ChinaPnR in a market expected to boom. [View news story]
Susquehanna upgrades VeriFone (PAY +7.5%) to Positive following news long-time CEO Douglas Berenson is out. The firm thinks VeriFone might now be an M&A target, and also foresees an upgrade cycle for EMV payment systems. Wedbush also likes the move, but is more cautious. "We believe the new CEO and new CFO Marc Rothman will need to repair the damage their predecessors have left behind, which could lead to further negative developments ... over the next few months/quarters." [View news story]
The company is not so bad off and if Verifier beats estimates in the future the new CEO & CFO will get the credit, but we should not forget the contributions of their predessors.
Verifone (PAY), whose payment-processing hardware sales are threatened by Square's emergence, is set to introduce a mobile credit-card reader of its own. Called SAIL, the solution will normally charge a 2.7% fee (slightly below Square's 2.75%), but a 1.95% rate will be offered to high-volume customers. Verifone benefits from having millions of customers to cross-sell to, though Square's rapid growth and seamless end-to-end solutions will make it tough to challenge. (also) [View news story]