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Verifone designs and manufactures electronic payment devices and solutions. Its core offerings include point-of-sale (POS) terminals, mobile payment devices, and secure processing software. Its integrated technology enables businesses to efficiently accept diverse electronic payments, creating robust ecosystems for transactions across retail, hospitality, and unattended settings.
Verifone was founded in 1981 by William "Bill" Melton, leveraging his significant prior experience in payment processing. Melton's key insight identified the market need for dedicated electronic devices to securely streamline financial transactions, thereby accelerating the adoption of credit and debit cards over traditional methods.
A broad spectrum of global businesses, from small merchants to large enterprises, utilize Verifone’s solutions for their payment infrastructures. The company’s vision centers on delivering seamless and secure commerce experiences for both merchants and consumers, continually innovating to anticipate future payment trends and advance the digital transaction landscape.
Verifone has raised $60.0M across 1 funding round.
Key people at Verifone.
Verifone has raised $60.0M in total across 1 funding round.
Verifone has raised $60.0M across 1 funding round. Most recently, it raised $60.0M Series A in July 2014.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jul 1, 2014 | $60M Series A | — | ForgePoint Capital | Announced |
Verifone has raised $60.0M in total across 1 funding round.
Verifone's investors include Forgepoint Capital.
Verifone is a technology company specializing in secure payment solutions, including point-of-sale (POS) terminals, mobile payment systems, online payment gateways, and value-added services for merchants, banks, and consumers.[2][4][5] It serves retailers, financial institutions, and businesses worldwide, solving the problem of automating and securing electronic transactions—from check verification to credit card authorizations and emerging digital payments—across more than 150 countries with over 20 million devices installed.[2][5] Founded in 1981 and headquartered in San Jose, California, Verifone has grown into a public company with a history of rapid expansion, achieving over 25% annual growth in the early-to-mid 1990s and consistent R&D investment exceeding 10% of sales.[3][4]
Verifone was founded in 1981 in Honolulu, Hawaii, by William Melton, an entrepreneur with over a decade of experience in payment processing.[2][3][4] Melton had previously started Real-Share, Inc., in 1971, pioneering computer-based check authorization systems, which he sold in 1980 for about $3 million to fund Verifone.[2][3] Initially, the company offered retailers access to databases on bad checks, expanding quickly to low-cost POS terminals for credit card and check authorizations by 1982.[2][3][4] Key early milestones included the 1984 launch of the ZON credit card system and going public in 1990; it later recapitalized in 2002 under leadership that refocused on POS profitability, evolving into VeriFone Holdings, Inc.[2] Melton's philosophy emphasized customer proximity, early adoption of email and networking for dispersed teams, and outsourcing to cut costs, driving local traction in Hawaii before global scaling.[2][3]
Verifone rides the wave of electronic payment digitization, starting when such tech was nascent in the 1980s and positioning itself as a leader in transaction automation amid rising credit card adoption and retail computing.[2][3][4] Timing was critical: launching amid early database and telecom advances allowed it to automate manual processes like check guarantees, fueling global commerce growth.[2][3] Market forces like outsourcing efficiencies, networking tech, and demand for secure, low-cost systems favored its model, influencing the ecosystem by standardizing POS hardware and paving the way for smart cards, online payments, and mobile solutions that billions now rely on.[4][5]
Verifone's legacy in secure payments positions it to capitalize on accelerating trends like contactless, mobile wallets, and AI-driven fraud prevention in a cashless world. Next steps likely involve deeper integration of cloud-based, omnichannel solutions to counter fintech disruptors. As digital commerce expands, Verifone's global footprint and innovation heritage could amplify its influence, evolving from POS pioneer to indispensable backbone of inclusive, secure transactions—echoing Melton's original vision of leading transaction automation worldwide.[2][4][5]
Key people at Verifone.
