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VeriFone Systems, Inc. Message Board

  • scubareport scubareport Feb 24, 2013 1:03 PM Flag

    Why would Google buy a Hardware company like PAY? They don;t need hardware, they use software.

     

    Pay is an over priced hardware company. Anybody like square can write a processing app. All credit card machines to is read the credit card's track 2 data, and transmits it to a processor who verifies the card. The terminal does not do this. Why would any body buy a $500 credit card terminal when they can use their cell phone and a $50 card reader attached to process credit cards. The retail sector is plummeting and PAY is a victim of old technology just like Kodak and Polaroid was to digital photography. It may take a few years but Pay will file for bankruptcy sooner or later.

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35.23-0.41(-1.15%)Apr 27 4:06 PMEDT