Verifone Teams Up With Paysafe on Verifone Connect Mobile Payments Tool
If you’re feeling a bit blindsided by the recent uptick of news out of Paysafe lately, don’t worry, you’re not alone. First we heard about some changes in its management team that will give the company extra leverage in pursuing the United States market, and now, it’s made a new move to bring Verifone Connect with both Engage and Carbon devices to its growing network of independent sales organization (ISO) operations.
The move is set to bring with it access to the range of payment services offered, but also estate management and business solutions for both the back-office and customer-facing sides of a business. With over 5.5 million small businesses in the United States, and over 240,000 quick-service restaurants (QSRs) being targeted by this move, it’s a safe bet that Verifone and Paysafe will find plenty of market to work with.
Recent market reports have suggested that small and medium-sized businesses (SMBs) are increasingly hungry for point-of-sale (POS) systems that work with cloud-based operations, rather than the traditional stand-alone option that will only take payments. This is putting extra onus on companies like Verifone to step up operations in this direction, and Paysafe may well be just the solution these companies need.
Paysafe’s CEO of payment processing for North America Todd Linden noted “The needs of the merchants we serve have become more and more complex as payment and business solution needs sometimes outgrow the capability of a standalone terminal…. Through this partnership, we can leverage powerful, reliable and secure capabilities to provide SMBs, who represent a significant and fast-growing market sector, with the next-generation of payment solutions and services, powered by Paysafe’s market-leading payment network.”
Since Paysafe has been working avidly to step up its position in the North American market—its recent hires were specifically designed to improve its North American position—this move to connect with Verifone is perfectly rational. Verifone needs a better, highly-secure and multifaceted tool to connect with its audience of SMBs looking for a new alternative, and Paysafe wants to crack open the rich nut that is the North American market.
The SMBs involved, meanwhile, shouldn’t be unhappy about this development either, and that’s likely to give everybody involved reason to smile going forward.