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January 18, 2016updated 04 Apr 2017 3:59pm

Verifone to acquire AJB Software Design

Payment technology firm Verifone has agreed to buy AJB Software Design, a Toronto-based provider of payment gateway and switching solutions, to expand services offering for large retailers in the US and Canada.

By Verdict Staff

Payment technology firm Verifone has agreed to buy AJB Software Design, a Toronto-based provider of payment gateway and switching solutions, to expand services offering for large retailers in the US and Canada.

Currently, nearly 150 large retailers in the US and Canada rely on AJB’s on-premise gateway and other solutions to connect nearly a half million payment devices.

AJB connects devices from Verifone and other providers to more than 100 processors and applications – such as government benefits, stored value cards, and fleet cards.

Financial terms of the deal, which is scheduled to complete during the second quarter of 2016, have not been disclosed.

Verifone president of North America Jennifer Miles said: "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. And, our partners will be able to provide this remarkable level of flexibility and functionality to their clients as well."

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