October 9th, 2012
VeriFone Systems, Inc. (PAY) recently announced that Indiana-based retailer The Finish Line (FINL) has deployed its mobile checkout and multimedia-driven countertop payment solutions to improve the shopping experience of its consumers, following a successful trial.
Headquartered in Indianapolis, Indiana, The Finish Line retails performance and athletic casual shoes, as well as apparel and accessories for men, women, and kids in the United States.
The Finish Line is deploying VeriFone systems across 638 locations by mid-November, prior to the holiday buying season. The Finish Line will deploy 1,600 countertop multimedia MX 915 systems and 3,200 PAYware Mobile Enterprise secure mobile card acceptance devices for the iPod touch.
The VeriFone MX 915 is an effective solution from the MX 900 line that safely delivers powerful multimedia, content and payments to transform the traditional point-of-sale into an active point of engagement between retailers and consumers.
Meanwhile, Finish Line is in the process of completing a system-wide upgrade to the MICROS Systems (MCRS) xStore POS and MICROS miStore mobile Point of Sale. These are designed to drive sales associate productivity and build strong customer loyalty. The company expects PAYware Mobile Enterprise will integrate seamlessly with xStore.
California-based VeriFone provides solutions for electronic payment systems for the financial, retail, hospitality, petroleum, transportation, government and health care markets.
Boasting a wide array of solutions in its portfolio, VeriFone provides retailers from key mobile payment systems to complete suites of next-generation mobile retail software.
In the last two years, VeriFone has been focusing on transforming its business in response to the rapidly evolving needs of customers, retailers and payment innovators across the world. The company aims to offer its retailers a managed service that can easily accept all existing payment types, including the evolving alternative and mobile payment methods being offered by Google and PayPal, Groupon, Isis, Visa, MasterCard and American Express.
We continue to maintain our Neutral recommendation on VeriFone in the long run. Our recommendation is supported by a Zacks #3 Rank, which translates into a short-term rating of Hold.
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