Verifone Extends POS Reach — Acquires Payments Gateway

Verifone announced a new agreement to acquire AJB Software Design, a Toronto-based provider of payment gateway and switching solutions for large merchants, in order to offer an end-to-end payments solution.

By doing so, Verifone has expanded its service offerings for retailers in the U.S. and Canada. The solution that Verifone will acquire from AJB is one that roughly 150 large retailers in the U.S. and Canada rely on as a gateway to connect nearly half a million payment devices.

AJB connects devices from Verifone and other providers to more than 100 processors and applications — including government benefits, stored-value cards and fleet cards — that are required by supermarkets, c-stores and other merchants. By acquiring AJB, Verifone can enable its partners (such as ISVs and acquirers) to deliver payment and commerce services to keep up with merchants’ demands for more simplicity, security, flexibility and functionality.

“Merging AJB’s solutions and expertise with Verifone’s breadth of services and systems expertise will provide retailers multiple options to better manage and secure their payment infrastructure and provide more value to customers,” said Jennifer Miles, president of North America for Verifone. “And our partners will be able to provide this remarkable level of flexibility and functionality to their clients as well.”

AJB will also extend Verifone’s services with:

A solution certified by major Canadian banks and processors for EMV acceptance.

Support for Verifone and non-Verifone devices — increasing merchants’ ability to manage and seamlessly expand their payments systems.

The ability to offer merchants a number of subscription-based hosting options.

“Combining AJB’s offerings with Verifone’s services creates an unmatched set of hardware-neutral solutions — giving merchants the ability to select from a wider range of products that best meet their business requirements,” said AJB Founder and President Naresh Bangia. “Ultimately, this enables AJB and Verifone clients to receive stronger value and support — all from a single vendor.”