VeriFone Systems Inc. is continuing its push into the retail mobile-payment market by acquiring Global Bay Mobile Technologies, a private mobile retail software provider, the payment-terminal maker announced Nov. 1.
VeriFone, which did not disclose the financial terms of the acquisition, views the acquisition as part of a strategy to extend smart-phone and tablet-based shopping to its current and future retail clients, the San Jose, Calif.-based company stated.
South Plainfield, N.J.-based Global Bay’s retail software will enable merchants to interact with customers through mobile channels to increase profits and shopper loyalty, Jennifer Miles, VeriFone executive vice president for North America, said in a press release.
VeriFone appointed Global Bay CEO and co-founder Sandeep Bhanote as general manager of mobile retail systems business.
“VeriFone understands the profound and transformative impact that mobile technology will have on the future of retail,” Bhanote said in the release.
