Last $35.67 USD
Change Today -0.67 / -1.84%
Volume 1.0M
As of 4:15 PM 07/23/14 All times are local (Market data is delayed by at least 15 minutes).

verifone systems inc (PAY) Snapshot

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06/17/14 - $38.26
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verifone systems inc (PAY) Details

VeriFone Systems, Inc. designs, markets, and services electronic payment solutions at the point of sale (POS) worldwide. It provides countertop electronic payment systems that accept card payment options, such as NFC, mobile wallets, chip and PIN, and contactless payments, as well as support credit and debit card, EBT, EMV, and other PIN-based transactions; an array of software applications and application libraries; and portable solutions that support 3G, GPRS, Bluetooth, and WiFi technologies. The company also offers multimedia consumer facing POS devices; unattended and self-service payment solutions designed to enable payment transactions in self-service environments; and integrated electronic payment systems that combine electronic payment processing, fuel dispensing, and ECR functions, as well as payment systems for integration. In addition, it provides mobile payment solutions for various segments of the mobile point of sale environment; contactless peripherals; network access solutions; security solutions; payment-as-a-service and other managed services, terminal management, payment-enabled media, and payment system security solutions; and server-based payment processing software and middleware. Further, the company offers equipment repair or maintenance, gateway processing, remote terminal management, software post-contract support, customized application development, helpdesk, customer service, warehousing, and encryption or tokenization services. It serves financial institutions, payment processors, petroleum companies, transportation companies, government organizations, healthcare companies, quick service restaurants, taxi fleets, advertisers and media companies, merchants and retailers; and distributors, resellers, system integrators, and independent sales organizations. The company was formerly known as VeriFone Holdings, Inc. and changed its name to VeriFone Systems, Inc. in May 2010. VeriFone Systems, Inc. is headquartered in San Jose, California.

5,699 Employees
Last Reported Date: 12/19/13

verifone systems inc (PAY) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $2.3M
Chief Financial Officer, Principal Financial ...
Total Annual Compensation: $336.1K
President of VeriFone Americas
Total Annual Compensation: $393.1K
Chief Compliance Officer, Executive Vice Pres...
Total Annual Compensation: $386.9K
Compensation as of Fiscal Year 2013.

verifone systems inc (PAY) Key Developments

Verifone Systems, Inc. Enters into an Amended and Restated Credit Agreement

On July 8, 2014, VeriFone, Inc., an indirect wholly-owned subsidiary of VeriFone Systems, Inc., VeriFone Intermediate Holdings, Inc., a direct wholly-owned subsidiary of the company, and certain other indirect wholly-owned subsidiaries of the company entered into an Amendment and Restatement Agreement, dated as of July 8, 2014, with the lenders party thereto and JPMorgan Chase Bank, N.A. (“JPM”) as Administrative Agent and Collateral Agent, which amended (i) the existing Credit Agreement, dated as of December 28, 2011, as amended by the Additional Credit Extension Amendment, dated as of October 15, 2012 and further amended by the Credit Agreement Amendment, dated as of July 19, 2013, among VeriFone, Holdings, the lenders party thereto, JPM, as Administrative Agent, an L/C Issuer and Swing Line Lender, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Bank, National Association as Co-Syndication Agents and Barclays Bank PLC and RBC Capital Markets, as Co-Documentation Agents and (ii) certain related Loan Documents. The Existing Credit Agreement, as amended by the Amendment and Restatement Agreement, is referred to as the “Amended and Restated Credit Agreement”. VeriFone entered into the Amendment and Restatement Agreement in order to extend the maturity dates of its facilities under the Existing Credit Agreement, to obtain more favorable pricing, and to make certain improvements to the covenants and other terms of the Existing Credit Agreement. The Amendment and Restatement Agreement provides for senior secured credit facilities in an aggregate amount of up to $1,300,000,000 consisting of a term A loan facility in the amount of $600,000,000, a term B loan facility in the amount of $200,000,000 and a revolving credit facility with a committed amount of $500,000,000. The New Facilities were made available to repay the outstanding balances due under the Existing Credit Agreement and to pay related fees and expenses as well as, in the case of the Revolving Facility, for working capital requirements and for other general corporate purposes. VeriFone previously repaid the term B loan facility under the Existing Credit Agreement in full.

SAP AG, Toyota Infotechnology Center USA and VeriFone Connect Cars and Provide Drivers with Simplified Fueling

SAP AG announced a co-innovation project with Toyota InfoTechnology Center USA and VeriFone that will help dramatically simplify drivers' fueling experience. Currently, drivers need to deal with multiple systems to find the right gas stations. When they arrive, drivers must authorize payment by swiping a card and punching in various identification codes, or paying the gas station attendant with cash. With the prototype, consumers can use a one-touch, one-screen solution to navigate to the closest gas station, authorize automatic payment electronically and receive personalized coupons. The announcement was made at the 14th SAP Automotive Forum, being held July 1-2 in Leipzig, Germany. Built on SAP HANA Cloud Platform, the solution aggregates information on a vehicle's location, route and fuel level as well as points of interest. VeriFone provides point-of-sale solutions and Toyota ITC provides telematics data. These processes and information are integrated via the SAP Cloud portfolio and presented in a screen on the Toyota ITC dashboard, allowing drivers to manage the entire transaction in one click. The use case works as follows: The driver is notified when the vehicle is low in fuel. Then, leveraging the Toyota ITC telematics system, the vehicle recommends a gas station location based on real-time context such as location and the vehicle's fuel level. It also takes into account a driver's pre-entered personal preferences such as preferred gas stations and which stations have opted in to the program. When the car arrives at the gas station and stops at the pump, the driver can authorize the transaction with a single click from their car or app on a mobile device. Gas stations may also provide discounts, loyalty points and other coupons based on the driver's profile. Once fueling is completed, the driver receives an electronic receipt. Drivers can view all previous fueling transactions and easily export them to other systems, such as an expense report. The system uses Bluetooth Low Energy, an emerging wireless standard that enables micro-location services. By combining BLE, SAP HANA Cloud Platform, Toyota ITC telematics system and VeriFone POS systems, the three companies have developed a consumer-centered connected car service.

Verifone Systems, Inc. and International Turnkey Systems Group Introduce Two EMV Payment Terminals in Saudi Arabia

VeriFone Systems, Inc. announced that the company along with its partner, International Turnkey Systems Group has introduced two EMV payment terminals from VX Evolution, VeriFone's new line of payment solutions, to the Kingdom of Saudi Arabia market.


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