Verifone CEO: Chip Cards Are a Large Driver of Growth

The video discusses the impact of chip card technology on the payment industry, highlighting its role in enhancing consumer engagement and security. It addresses the fragmented state of US payment systems, the influence of EMV on market dynamics, and Verifone's global presence. The conversation shifts to evolving revenue streams, emphasizing a transition from hardware to integrated solutions and services.

What has chip card technology enabled merchants to do beyond EMV purposes?

• Increase product prices

• Eliminate cash transactions

• Rethink consumer engagement at the point of sale

• Reduce transaction fees

What is a significant characteristic of the US payment system?

• It has no regulatory oversight

• It is the most advanced globally

• It only uses digital payments

• It is highly fragmented

What has driven a major upgrade cycle in the payment industry?

• EMV chip card business

• Government regulations

• Consumer demand for cashless options

• Introduction of mobile payments

How does Verifone view its role in the global market?

• As a manufacturer of cash registers

• As a competitor to online retailers

• As a core infrastructure provider for payments

• As a minor player in payment solutions

What shift has Verifone made in its business model?

• From local to international markets

• From hardware to software development

• From online sales to physical stores

• From selling terminals to offering comprehensive solutions