Apple Pay

Apple Pay Drives Verifone Sales

The announcement by Apple that they are going into the payments business as been good news point of sale tech maker Verifone.

Currently less that 20 percent of U.S. payment terminals are NFC-ready, reports Bloomberg, a fact that may now change now that Apple is official NFC’s banner carrier.

“The fact that Apple is promoting NFC as the technology for mobile payments is a big positive for Verifone, not to mention Apple will be putting Verifone terminals in their own stores,” Gil Luria, an analyst at Wedbush Securities Inc, told Bloomberg in an email.

Verifone shares gained as much as 6.3 percent to $37.23, its highest intraday price since June 23.

Verifone sells terminals that contain NFC as well as  EMV.  The one-two NFC-EMV punch could boost VeriFone’s revenue by as much as $50 million to $100 million in the next two to three years, according to Luria.

 

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