VeriFone has acquired Point; one of northern
Europe’s largest providers of point of sale services for
retailers.
VeriFone aims to extend the Point platform
throughout the region and create the world’s largest infrastructure
for rapid deployment of alternative payments.
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The acquisition comes at a cost of around €600
million ($820 million) and is expected to close by the end of
2011.
Point has operations in 11 northern European
countries and serves a captive network encompassing almost 475,000
merchant contracts.
Verifone anticipates the deal to add “about
$260 million in sales”. Douglas H. Bergeron, CEO of VeriFone said:
“Our vision is to offer retailers everywhere a managed service to
easily accept all existing payment types, including the evolving
alternative and mobile payment methods being offered by Google,
PayPal, Groupon, Isis, Visa, MasterCard, and American Express.
“At the same time, we can increasingly offer
the new payment entrants easy and accelerated access to our
worldwide installation of more than 20 million merchant lanes.”
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