VeriFone Systems, Inc. (PAY) recently teamed up with China
Mobile and Bank of China whereby both the banks will deploy
VeriFone's managed services solutions for NFC payment and mobile
marketing in Shen Yang, China.
In addition, Shen Yang Badatong E-Commerce Co., Ltd. is in the
process of installing VeriFone NFC acceptance systems at
thousands of merchant location, which will enable payment and
redemption via NFC at the point of sale.
This is the first time that VeriFone's PAYMEDIA Mobile
Marketing Platform (MMP) will be implemented. This end-to-end
solution will allow merchants, brands and third parties to launch
campaigns to mobile wallet subscribers on a wider base.
VeriFone's system solutions consist of point of sale (POS)
electronic payment devices which run proprietary and third-party
operating systems, security and encryption software and certified
payment software as well as other third-party value-added
applications.
The system solutions are able to process a wide range of
payment modes, which include signature and PIN-based debit cards,
credit cards, contactless/radio frequency identification (RFID)
cards and tokens, Near Field Communication (NFC) enabled mobile
phones, Europay, MasterCard and VISA (EMV) smart cards, pre-paid
gift and other stored-value cards, electronic bill payment,
signature capture, and electronic benefits transfer (EBT).
The alliance will enable consumers and merchants to fully
leverage the power and simplicity of NFC technology supported by
Bank of China and China Mobile.
On the other hand, China Mobile and Bank of China expect to
issue 50,000 SIM cards initially, which will be marketed to
subscribers through bank branches and China Mobile customer
support centers.
VeriFone plans to replicate this service in other cities and
provinces across China and the world as well as through
partnerships with wallet providers, MNOs and
integrators.
Meanwhile, the fourth quarter results missed the estimates and
led to a significant decline in share price. Most recently,
VeriFone has also been sued by Creative Mobile Technologies LLC
for approximately $250 million over an agreement to place
advertisements on screens in New York taxis.
As of now, we maintain a Neutral recommendation. However, the
near-term pressure forces us to confer a Zacks #4 Rank on
VeriFone, which translates into a short-term rating of
Sell.
VeriFone Systems, Inc. (PAY) recently teamed up with China
Mobile and Bank of China whereby both the banks will deploy
VeriFone's managed services solutions for NFC payment and
mobile marketing in Shen Yang, China.
In addition, Shen Yang Badatong E-Commerce Co., Ltd. is in
the process of installing VeriFone NFC acceptance systems at
thousands of merchant location, which will enable payment and
redemption via NFC at the point of sale.
This is the first time that VeriFone's PAYMEDIA Mobile
Marketing Platform (MMP) will be implemented. This end-to-end
solution will allow merchants, brands and third parties to
launch campaigns to mobile wallet subscribers on a wider
base.
VeriFone's system solutions consist of point of sale (POS)
electronic payment devices which run proprietary and
third-party operating systems, security and encryption software
and certified payment software as well as other third-party
value-added applications.
The system solutions are able to process a wide range of
payment modes, which include signature and PIN-based debit
cards, credit cards, contactless/radio frequency identification
(RFID) cards and tokens, Near Field Communication (NFC) enabled
mobile phones, Europay, MasterCard and VISA (EMV) smart cards,
pre-paid gift and other stored-value cards, electronic bill
payment, signature capture, and electronic benefits transfer
(EBT).
The alliance will enable consumers and merchants to fully
leverage the power and simplicity of NFC technology supported
by Bank of China and China Mobile.
On the other hand, China Mobile and Bank of China expect to
issue 50,000 SIM cards initially, which will be marketed to
subscribers through bank branches and China Mobile customer
support centers.
VeriFone plans to replicate this service in other cities and
provinces across China and the world as well as through
partnerships with wallet providers, MNOs and
integrators.
Meanwhile, the fourth quarter results missed the estimates
and led to a significant decline in share price. Most recently,
VeriFone has also been sued by Creative Mobile Technologies LLC
for approximately $250 million over an agreement to place
advertisements on screens in New York taxis.
As of now, we maintain a Neutral recommendation. However,
the near-term pressure forces us to confer a Zacks #4 Rank on
VeriFone, which translates into a short-term rating of
Sell.
VeriFone Systems, Inc.
(
PAY
) recently teamed up with China Mobile and Bank of China
whereby both the banks will deploy VeriFone's managed
services solutions for NFC payment and mobile marketing in
Shen Yang, China.
In addition, Shen Yang Badatong E-Commerce Co., Ltd. is in
the process of installing VeriFone NFC acceptance systems at
thousands of merchant location, which will enable payment and
redemption via NFC at the point of sale.
This is the first time that VeriFone's PAYMEDIA Mobile
Marketing Platform (MMP) will be implemented. This end-to-end
solution will allow merchants, brands and third parties to
launch campaigns to mobile wallet subscribers on a wider
base.
VeriFone's system solutions consist of point of sale (POS)
electronic payment devices which run proprietary and
third-party operating systems, security and encryption
software and certified payment software as well as other
third-party value-added applications.
The system solutions are able to process a wide range of
payment modes, which include signature and PIN-based debit
cards, credit cards, contactless/radio frequency
identification (RFID) cards and tokens, Near Field
Communication (NFC) enabled mobile phones, Europay,
MasterCard and VISA (EMV) smart cards, pre-paid gift and
other stored-value cards, electronic bill payment, signature
capture, and electronic benefits transfer (EBT).
The alliance will enable consumers and merchants to fully
leverage the power and simplicity of NFC technology supported
by Bank of China and China Mobile.
On the other hand, China Mobile and Bank of China expect
to issue 50,000 SIM cards initially, which will be marketed
to subscribers through bank branches and China Mobile
customer support centers.
VeriFone plans to replicate this service in other cities
and provinces across China and the world as well as through
partnerships with wallet providers, MNOs and
integrators.
Meanwhile, the fourth quarter results missed the estimates
and led to a significant decline in share price. Competition
continues to be stiff from the likes of
NCR Corp.
(
NCR
), which recently acquired Retalix Ltd. approximately $650
million. Most recently, VeriFone has also been sued by
Creative Mobile Technologies LLC for approximately $250
million over an agreement to place advertisements on screens
in New York taxis.
As of now, we maintain a Neutral recommendation. However,
the near-term pressure forces us to confer a Zacks #4 Rank on
VeriFone, which translates into a short-term rating of
Sell.
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