uploads/2015/09/gks42-pay.jpg

Verifone Systems Expands in 3Q15

By

Updated

About Verifone

Verifone Systems (PAY) is a leader in providing innovative payment terminals, global payment as a service, and commerce enablement solutions that allow for rich interactions between consumers and merchants. The company provides self-service payment devices, software, and web-based gateways.

The price movement of Verifone Systems on a weekly, monthly, and year-to-date basis is -6.86%, -8.98%, and -20.48%, respectively. The year-to-date price movements of the VanEck Vectors Israel ETF (ISRA) and the Guggenheim Insider Sentiment ETF (NFO) are 3.72% and -5.18%, respectively. NCR (NCR), Diebold (DBD), PayPal (PYPL), and Danaher (DHR) are Verifone Systems’ competitors (PAY).

Article continues below advertisement

Verifone’s 2Q15 performance 

Verifone Systems (PAY) has performed well in 2Q15 with revenues of $490 million. The company has given revenue projections of $495 million to $500 million. In 3Q15, the company expanded its market in Europe and its footprint of connected devices to build an integrated network for delivering payment services and digital commerce applications, including targeted media, loyalty, and offers. It has signed a contract with 25 US merchants for Secure Commerce Architecture, which aims to expand EMV compliance and device connectivity.

Performance of Verifone Systems in 3Q15

Expansion plans have helped Verifone Systems post better 3Q15 results than expected, including net revenue of $510 million. With the increase in revenue, cash and cash equivalents have increased by 3.3% to $242.1 million, and the company has reduced its debt by 2.4%.

Advertisement

More From Market Realist