“The acquisition of InterCard will provide retailers with access to a fuller suite of payment acceptance services across the continent,” said June Felix, President Verifone Europe. InterCard is a family-owned business that was founded in 1992. For more than 20 years, the company has provided a full suite of payment services including terminal sales and leasing, field support services such as helpdesk, installation and maintenance as well as gateway services, such as transaction routing.
The combination of Verifone and InterCard in Germany creates a point of sale terminal and multichannel Payment as a Service provider capable of offering merchants end-to-end payment and commerce solutions. “As the German market continues to evolve toward accepting more forms of cashless payment, Verifone anticipates growing demand from its customers for a partner capable of helping merchants and financial institutions quickly adapt, reducing the complexity of managing their payment environments, and better leveraging their point of sale investments to engage consumers and grow sales,” said Markus Hoevekamp, General Manager, Verifone Germany.
Terms of the deal are not disclosed. Closure is dependent on the approval of the German Federal Financial Supervisory Authority, BaFin, and the German Federal Cartel Office, Bundeskartellamt. Verifone will provide additional information regarding the pending acquisition on the company’s upcoming Q4 FY15 Earnings call on Dec. 14, 2015.
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