VeriFone Systems Inc. has completed its buyout of Point International. The deal, first announced in mid-November 2011, positions VeriFone to offer retailers a range of managed services while also pushing deeper into Europe.
According to ZDNet:
"Essentially, VeriFone’s plan with this purchase is to offer retailers a managed service that will accept all existing payment types — including alternative and mobile payment methods being offered by Google, PayPal, Isis, Visa, MasterCard, and American Express."VeriFone CEO Douglas Bergeron specifically singled out Google, PayPal, Groupon and Isis as "new entrants" in online and mobile retail. "The new entrants can take advantage of easy and accelerated access to VeriFone's worldwide installation of more than 20 million merchant lanes," Bergeron said.
Meanwhile, Point International claims to be the largest payment solutions provider in Northern Europe. Today, the Point service network includes nearly 475,000 merchant contacts across 11 Northern Europe countries.