Verifone Launches a Big Salvo in Point of Sale Technology – Digital Transactions

January 10, 2025 Acquiring, Competitive Strategies, Mobile Commerce, Near-Field Communication (NFC), Point-of-sale, Transaction Processing
Verione on Thursday unveiled a new line of payments devices that observers say represent a a sweeping effort by the 44-year-old company to establish a leading position in fast-moving markets like point of sale, mobile POS, and biometric authentication.
The product launch includes a new set of point-of-sale devices available under a new brand, Victa, and aimed at mobile and multilane use. The devices feature large screens and a Qualcomm processor. Also included in the new product array is Verifone Tap SoftPOS, the company’s entry in the rapidly unfolding market for technology that enables ordinary smart phones to accept card transactions.

The third leg of the company’s announcement involves a move to incorporate biometric authentication technology to verify that cardholders are who they say they are, using features such as fingerprint readers. This effort includes modules that can be incorporated into “existing devices,” the company says.

Victa, in particular, could be a powerful entry for Verifone, observers say, particularly the new line’s mobile capability. “Verifone has not been sitting on their laurels. They’ve been carefully plotting out a product like Victa,” notes Cliff Gray, principal at Gray Consulting Ventures.
But he cautions that competition in this market remains fierce, with a wide range of competitive hardware and software. Verifone “has been hunkering down building this stuff,” Gray says, “but it’s a tough market.” Getting devices sold and deployed could be a slow process in any case, he adds, as merchants eye device investments warily and rival device makers step up competition. “It’s not an easy adoption,” says Gray.
Mobility will be key for these new devices, he adds. “It’s more than the point of sale. The point of interaction has been moving very fast.” Sales of POS devices in the U.S. market totaled $21.1 billion in 2022, according to Grand View Research, which projects a 6.1% average annual growth rate through 2030.
At the same time, the new softPOS move could be a powerful entry for Verifone. The technology has been winning adoption among businesses that need to accept cards at various points in stores and in outdoor venues where conventional terminals may not be practical. “There are software options to handle all point-of-sale issues,” says Gray.
Together with the product announcement, Verifone noted it has been working on expanding its network of resellers, citing a recent signing of the processor FreedomPay as an example of its efforts.
The company expects to showcase its new technology at the National Retail Federation convention starting this Sunday in New York City.
January 9, 2025
January 9, 2025
January 9, 2025
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