Apple Pay to help drive multiyear expansion at VeriFone

“You eventually will ditch your wallet and start using Apple Pay or an equivalent digital wallet, according to VeriFone Systems Inc., the company whose technology powers mobile payment technologies,” Jennifer Booton reports for MarketWatch.

MacDailyNews Take: Apple Pay has no equivalent.

“In December, point-of-sale device manufacturer VeriFone said Apple Pay would usher in a new era of mobile payments that would make cash and plastic as annoying to carry as coins are today,” Booton reports. “Proponents of the technology say digital wallets will one day become so ubiquitous that cash and plastic will be pushed into virtual irrelevancy.”

“In a note to clients on Wednesday, Susquehanna Financial Group analyst Meghna Ladha said this provides a ‘multiyear opportunity’ for VeriFone,” Booton reports. “The stock is Susquehanna’s ‘top pick for the year’ in 2015. Ladha reiterated a positive rating on VeriFone and a 12-month price target of $38 on the stock, which implies a 14% improvement over today’s price. The average rating among more than 17 analysts polled by FactSet is overweight. Shares of VeriFone traded up 1.3% at around $33.33 in recent trade. They are up about 17% over the last 12 months but have fallen 10% since November.”

Read more in the full article here.

Related articles:
Tim Cook on why Apple Pay doesn’t collect your data: ‘You are not our product’ – February 11, 2015
JetBlue becomes first airline to accept Apple Pay at 35,000 feet – February 10, 2015
American Express ad promotes Apple Pay as ‘next evolution of membership’ – February 9, 2015
Apple Pay rolls out support for 15 more banks and credit unions – February 3, 2015
Visa, MasterCard full of praise for Apple Pay; international rollout said to start soon – February 3, 2015
Apple Pay breathes life into the mobile wallet, triggers deals – January 29, 2015
Apple Pay takes off, leaving moribund competitors in the dust – January 27, 2015
Apple Pay arrives on 200,000 vending machines, kiosks, parking stations, and more – January 27, 2015
Western Union now supports Apple Pay – January 27, 2015
Forget Stores: Apple Pay is already taking over mobile shopping – January 22, 2015
Sprouts Farmers Market now accepting Apple Pay – January 21, 2015
Apple Pay adds 15 more banks and credit unions – January 20, 2015
Apple Pay expands to Save Mart Supermarkets – January 15, 2015
Apple Pay adds support for 8 new card issuers, banks – January 6, 2015
Chevron to support Apple Pay at gasoline pumps in early 2015 – December 29, 2014
Self-interested retailers continue to fight against Apple Pay and, ultimately, their own customers – December 24, 2014
Apple Pay has strong momentum; took 1% of digital payments in November – December 20, 2014
What Apple Pay means to Bank of America: Security – November 6, 2014
Apple Pay is nirvana for (smart) retailers – November 6, 2014
Entrepreneur warns retailers, restaurants, bars: Do not wait, jump on the Apple Pay bandwagon ASAP – November 5, 2014


  1. Well let us just hope it is not Google Wallet. Just tried to renew with, and the ONLY way to pay them is through Google Wallet. Sent them a terse email saying they could forget my business.

  2. The only payment services, where “You are not the product” is Apple Pay; you are effectively anonymous to the merchant, helped enormously with Touch ID to ensure that you and only you confirm the payment.

    No other payment wallet or service comes remotely close!

    1. I agree with your statements about Apple Pay. By far the most important thing to me is that Apple Pay will keep my credit card information secure from retail theft (hackers into Target or other retail POS systems, waiters running your credit card at the restaurant, etc.

      But I don’t think that Apple Pay will necessarily end up materially reducing the amount of data collected on consumer retail activities. Retailers will use affinity cards and other “incentives” to tie your name to your purchases, even if the actual transaction is processed anonymously through Apple Pay.

      Retailers have already been pretty heavy-handed with their affinity card approaches. In many stores, it costs a lot more if you do not have a card. That is why I am “Fred Flintstone” at Safeway.

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