Verifone Products

VeriFone 'Year Of The Product' Driving The Top Line February 13, 2017 – 20:11

Share during the company’s first-quarter earnings call Tuesday (March 10) demonstrated its commitment to adapting with mobile and digital technologies as the company hopes its investments in EMV merchant certifications will continue to pay off.Calling 2015, the “year of product” for VeriFone, Galant focused his comments in a call with analysts about how it plans to work with its customers to help garner widespread EMV adoption. Highlighting its momentum in EMV for its client base, he spoke of the most recent product rollout, which includes the consumer-facing payment terminals that recently launched in the U.S.“Our incremental investments in EMV certifications have really paid dividends in our traditional North American SMB business, by helping us to get more EMV capable product and pay-at-the-table solutions into the market in order to meet growing demand, ” said Galant, adding, “We continue to earn commitments in Q1 from U.S. merchants and acquirers for our next-generation Secure Commerce Architecture solution, which improves payment data security, while also accelerating EMV certifications and implementation. In Q1 alone, we signed or announced new agreements with Vantiv and TransFirst. And now, have merchant commitments to connect more than 150, 000 new devices through SCA.”Galant’s comments indicated that EMV upgrades, particularly for large retailers, continue to be a success for the company. The company saw 18 percent growth sequentially and 44 percent from the year prior from that sector. VeriFone is also seeing growth in its smaller business side — seeing 15 percent sequential growth and 49 percent increase from the year prior from that side of its business.“Significant momentum continues in our U.S. multi-lane retail business. …Large retailers continue to upgrade to EMV in the U.S. with our MX 900 Series terminals, and new merchants are buying consumer-facing terminals for the first time to prepare for EMV card acceptance, ” Galant said. “We are growing our SMB business by delivering a broader base of certified products across U.S. acquirers and benefiting from market tailwinds in security and EMV-related upgrades.”