Hi guys, as many of you already know, VeriFone Systems, Inc. is a company that designs and sells electronic payment devices worldwide. Just last night I received a stockspotter.com SELL signal. Considering that the three major electronic payment companies (VeriFone Systems Inc., Hypercom Corp. and Ingenico SA) have just recently abandoned plans for Hypercom to sell its U.S. payment systems business to Ingenico SA in order to alleviate antitrust concerns about VeriFone’s proposed purchase of the rest of Hypercom I think the signal should not be disregarded. The antitrust concerns came about when just last week the Justice Department sued to block VeriFone’s purchase of Hypercom.
Additional Company Info: VeriFone Systems, Inc. designs, markets, and services electronic payment solutions that enable secure electronic payments among consumers, merchants, and financial institutions worldwide. The company provides countertop electronic payment systems that accept magnetic, smart card, and contactless/radio frequency identification cards; and support credit, debit, check, electronic benefits transfer, and various pre-paid products, as well as offers wireless system solutions. The company also provides products for the point of sale applications, which include displays, user-friendly interfaces, electronic cash registers (ECR) interfaces, durable key pads, and signature capture functionality; and contactless/near field communication (NFC) payment solutions for consumer-activated transactions using contactless cards, tokens, or NFC enabled mobile phones.