VeriFone Enters Agreement to Acquire InterCard AG

November 11, 2015     By : Priti

VeriFone, the world’s leader in payment and commerce solutions, announced that it has signed an agreement to buy payment-as-a-service provider InterCard AG.

“This announcement reaffirms our commitment to meeting the needs of our retail clients who are increasingly seeking new services and assistance as they grow across Europe. The acquisition of InterCard will provide retailers with access to a fuller suite of payment acceptance services across the continent,” said June Felix, President of VeriFone Europe, in the press release.

Founded in 1992, InterCard is a family-owned business based in Munich. For more than 20 years, the company has provided a full suite of payment services including terminal sales and leasing, field support services such as helpdesk, installation and maintenance as well as gateway services, such as transaction routing.

The acquisition of InterCard by VeriFone creates a point-of-sale terminal and multichannel payment-as-a-service provider capable of offering merchants secure, simple and innovative end-to-end payment and commerce solutions in Germany.

“As the German market continues to evolve toward accepting more forms of cashless payment, VeriFone anticipates growing demand from its customers for a partner capable of helping merchants and financial institutions quickly adapt, reducing the complexity of managing their payment environments, and better leveraging their point of sale investments to engage consumers and grow sales,” said Markus Hoevekamp, General Manager of VeriFone Germany. “InterCard is a long-time VeriFone partner and an outstanding organization, with a strong management team that is known for delivering exceptional client service.”

“Together with VeriFone, InterCard’s customers will now benefit from further improvements to our service offering and by future innovation,” said Kai Adolph, CEO of InterCard AG. “Furthermore, as the market continues to grow and expand across geographical boundaries, our clients are looking for a partner who can support them seamlessly across countries and across continents. VeriFone has been a trusted partner of InterCard for years and has broad global distribution, an international client base, and a brand that is known for security and reliability. We’re excited about the benefits of joining the VeriFone team and the value this will bring to our clients’ ambitions.”

With the new acquisition, VeriFone plans to expand its services in Europe. Terms of the deal are still not disclosed.

The company recently announced the launch of VeriFone Engage, the next generation family of payment devices that globally redefines what’s expected of point-of-sale (POS) hardware and software. VeriFone Engage will have features like storing and displaying rich media for advertising opportunities, push coupons and push offers on-the-spot, reward programs for frequent shoppers, loyalty programs and more. VeriFone Engage is the company’s first-ever, fully-integrated, Linux-based product family, encompassing a complete range of payment solutions for merchants, acquirers and service providers.

VeriFone has been providing POS terminals for the last 30 years and has established a presence in 150 countries. The latest acquisition and services from VeriFone make it clear that the company is planning something big. We will have to wait and see what the next new move of the company will be.

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Priti

Priti has keen interest in digital money and fintech startups . She completed her B-School education this year and likes to write about innovation with respect to digital payments.