Payment terminal provider VeriFone Systems is riding out the European debt crisis with positive numbers for the fourth quarter, all while rapidly rolling out payment terminal installations in Latin America, reports American Banker.
Verifone’s $416 million in revenue for the fourth quarter marks a jump of 31.2% over last year’s earnings of $317 million. According to American Banker, a significant chunk of the growth can be attributed to Verifone’s involvement with Google Wallet.
AB also points to VeriFone’s acquisition of global e-payments provider Hypercom as major contributors to the company’s success. The company also recently purchased Point, a Swedish provider of payment and gateway services.
In Latin America, VeriFone delivered record sales of its VX Evolution systems, which support both NFC and EMV transactions, according to Bergeron. The company has also won new clients in Puerto Rico, Mexico and Central America.
More growth is expected in Europe thanks to VeriFone’s deal with Visa to provide 10,000 electronic payment terminals in London during the run up to the 2012 Sumer Olympics.
Verifone’s firm support of chip-and-PIN payments around the globe will also position it to benefit in the U.S. and other markets that are beginning to transition to EMV and NFC-enabled mobile payments.
“I think we are reaching a point where more and more people are saying they don’t know what the future is for sure, but they know Near Field Communication is going to be part of it and they don’t want to be flat-footed when that day arrives,” said Bergeron.
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