Verifone: Check and Credit Approval System Essay by The Research Group

Verifone: Check and Credit Approval System
A 1993 examination of VeriFone's origins and current market standing, providing a brief company history, describing financial standing and potential new markets and strategies.
# 19845 | 1,350 words | 6 sources | 1993 | US
Published on Feb 26, 2003 in Business (Companies) , Business (Industries) , Business (Marketing)

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From the Paper:

"The market for the VeriFone products is large and growing larger. The company was founded by William Melton in 1981. Melton started an earlier company in Hawaii to write software for real estate agencies, and this was an early entrant into the computer business before the PC revolution which started in the 1970s and changed the nature of the business. Melton sold his original company in 1980 for $3 million, and he used this money as a stake to found VeriFone to provide local retailers with access to the names of writers of bad checks over the phone. In a short time, Melton had spread his sales and technical staff all over Hawaii so that they would be able to get to know customers personally and to serve their needs better. Within a few years, the company had expanded so it could deal with credit cards as ..."

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