VeriFone entered the “mobile wallet” with a huge splash, as is handed over 600m euros in acquiring Point International, the retailer who PayPal had been using in there latest NFC trial in Stockholm.
This now gives VeriFone, point of sale technology, support, gateway services, card encryption and e-commerce processing in eleven European countries and access to over 475,000 merchants.
In a statement, VeriFine said it “intends to extend the Point platform throughout the region and beyond, with the aim of creating the worlds largest infrastructure for rapid deployment of alternative payments and NFC mobile commerce.”
“This acquisition supports our vision of offering retailers everywhere a managed service to easily accept all existing payment types, including the evolving alternative and mobile payment methods being offered by traditional card brands and new entrants such as Google, PayPal, Groupon and Isis,”
Following on the sucess that VeriFone has alrady had in the UK with the mobile payment solution they installed and run in taxi firms, you can clearly see how the competition also in the race to provide the “mobile wallet” will be concerned.
This article is copyright © 2013 Mike Bowers.