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VeriFone Buys Aussie EFTPOS Services Firm
VeriFone has acquired the EFTPOS services business of Australia's Peripheral Computer Industries (PCI). No financial details were disclosed.
VeriFone says it bought the EFTPOS services unit in order to enhance its ability to provide acquirer banks and other organizations with one-stop electronic payments products and services.
Like their counterparts around the world, Australian acquirers are facing mandates to comply with global security standards such as PCI DSS (Payments Cards Industry Data Security Standard) and EMV. They are also required to comply with local standards from APCA (Australian Payments Clearing Association). VeriFone says its portfolio of systems and peripherals has received APCA certification.
“With this acquisition VeriFone will provide a variety of value-added services to our customers not only in Australia and New Zealand but also across the South East Asian market,” says William C. Nichols, senior vice president, VeriFone Asia Pacific.
Australia is one of the largest EFTPOS markets in Asia, with a total installed base of over 500,000 payment systems, VeriFone says.