VeriFone is a company that manufactures and distributes electronic payment equipment. Some of their better-known products include the Tranz and Omni terminal model lines, as well as the P series of printers and their proprietary PinPads. Simply put, it is a company that makes point-of-sale equipment. They were founded in 1981 and incorporated in Hawaii in that year, as well, and named the company after their first product. The name “Verifone” came from “verification telephone,” as a matter of fact.
VeriFone, Inc. is now a well-known brand in electronic payment solutions. Their principal product lines cover point of sale, merchant-operated, consumer-facing and self-service payment systems for multiple industries, notably financial, retail, hospitality, petroleum, government and healthcare markets. The fact is, there is not a commercial activity on the planet that has not been conducted over one VeriFone product or another, so great has been the firm’s market penetration over the last quarter-century-plus.
All Kinds of Quality
VeriFone has sold numerous point-of-sale credit card reading products, including the Tranz 330 that was introduced in 1985. The company’s most popular current products include the Omni 3700 family, featuring the Omni 3730LE, Omni 3730, Omni 3740 and Omni 3750. These models are famed for their ever-increasing compactness, technological wizardry, sleek industrial designs and durability. VeriFone’s products get consistently high ratings in business and consumer tests, and are well regarded in the credit card processing industry.
In 2005, VeriFone introduced its newest line of products, Verix Solutions. This product line includes the Vx510 and Vx570, which are countertop solutions offering dial-up or Ethernet access, and the Vx610 and Vx670 that are portable, battery-powered units with an integrated WiFi module. The Vx610 is offered in GPRS, CDMA and WiFi wireless configurations, and is considered a “countertop mobile” product. The Vx670 is a true portable or “handheld” version available with GPRS, WiFi and Bluetooth communications modules.
The Future is Here
VeriFone released the Mx870, a full-color EFTPOS terminal, in 2005 and has refined it ever since. The unit displays full-screen video and can be used to build various applications by VeriFone users. The Mx870 was the first product in the Mx800 series of Visual Payment Terminals, all of which run an embedded version of Linux and have FST FancyPants as a graphical user interface (GUI) for simple, straightforward use.
VeriFone completed the acquisition of the Israeli manufacturer of terminals and processing equipment, Lipman, in late 2006. With this purchase VeriFone was able to add Lipman’s powerful NURIT terminals to its burgeoning inventory of credit card processing solutions. The new additions to the VeriFone line helped solidify the company’s position at the “top of the heap” in the credit card terminal industry, and showed the firm’s commitment to developing future technologies and helping companies transact their sales faster, more securely and at lower overall cost. VeriFone is, truth be told, one of the giants of the industry, and has worked hard to get, and stay, on top.