“Legacy POS hardware players, like VeriFone, have recently struggled with the EMV transition as well as the cloud-based POS evolution (which may have been fueled in part by the EMV transition),” Jared Drieling, senior director of business intelligence at The Strawhecker Group, says in an email message. “The stock price of VeriFone has reflected this over the course of the past two years.”
“Beyond EMV, despite pursuing acquisitions and introducing new services, VeriFone has continued to trail other acquiring-industry firms and POS players that are bringing software-based payment systems to merchants, systems that often use tablets coupled with specialized apps that are cloud-based,” Drieling continues. “These other firms include Square, First Data’s Clover, Harbortouch, and Toast.” Toast focuses on restaurant POS systems.
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