What is VeriFone? VeriFone Review, Features

VeriFone is a global provider of secure electronic payment solutions, providing hardware, software and services for debit cards, credit cards, smart cards and Internet transactions to financial institutions, merchants and consumers.

About VeriFone

Founded in Hawaii, USA in 1981, it was reorganized in Delaware, USA in 1986. In June 1997, it was acquired by Hewlett-Packard for $1.18 billion. In July 2001, Gores Technology Group (GTG) signed an agreement to acquire VeriFone, a subsidiary of Hewlett-Packard, making VeriFone an independent company again. This change has brought unlimited opportunities to VeriFone again, allowing it to innovate more freely and focus more on providing highly secure, reliable and technologically advanced payment solutions. VeriFone is the world's leading provider of secure electronic payment solutions, providing hardware, software and services for debit cards, credit cards, smart cards and Internet transactions to financial institutions, merchants and consumers.

VeriFone's Services

Verifone's core business and main development areas are to provide consumers with secure electronic payment systems, including professional technology, solutions and value-added services, for industries such as finance, retail, hotels, petroleum, government and medical that have payment needs. The company's stable growth is mainly due to its focus on technological innovation and strategic cooperation. Whether in mature or emerging markets around the world, Verifone can win the favor of merchants, partners and acquiring institutions with its unique solutions. In most markets around the world, Verifone has a leading market share.

FAQ

Q: If I choose to work with Verifone e-Commerce (PAYBOX), what should I ask my bank?
A: Only the VAD contract number (Electronic Payment Distance Sales Contract via Internet) is required. This number has 7 digits. Verifone is compatible with all banks.

Q: My company is located outside of France, what do I need to activate the Verifone solution?
A: Outside of France, banks do not issue VAD contracts. It is therefore necessary to go through a third-party acquirer who will issue you a merchant account with a merchant ID (equivalent to the VAD contract number).

Q: Is the Verifone solution a “complement” to the bank’s solution, and does it cost twice as much?
A: Verifone solutions are supported by VAD or VADS contracts issued by banks or acquirers and replace payment solutions provided by banks.

VAD contract = bank or acquirer = % commission

Payment Solution = In-house solution or independent PSP (like Verifone) = Fixed cost per transaction

When issuing a VAD contract, the commission percentage is defined in agreement with the bank. The average rate is less than 1%.
Therefore, there is no additional cost to choose Paybox. 1 transaction = % bank + fixed cost verification

Q: Can I test Verifone eCommerce before joining?
A: Verifone provides a test environment free of charge, called the Pre-Production Environment. You will find all the elements you need for testing in the "Test Play " section.

Q: My solution is already in place and I need to test new features, is that possible?
A: Even though your account is active in production, you retain access to the pre-production environment to allow you to perform additional testing without impacting your existing solutions (on the production platform).