VeriFone Buys Global Bay to Enhance Its Mobile-Payment Capabilities

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 Tuesday.

VeriFone, which did not disclose the financial terms of the acquisition, views the acquisition as part of a strategy to extend smartphone and tablet-based shopping to its current and future retail clients, the San Jose, Calif., company said.

Global Bay's retail software will enable merchants to interact with customers through mobile channels to increase profits and shopper loyalty, Jennifer Miles, VeriFone's executive vice president for North America, said in a press release.

VeriFone appointed Global Bay's chief executive and co-founder, Sandeep Bhanote, as general manager of mobile retail systems business. Global Bay is based in South Plainfield, N.J.

"VeriFone understands the profound and transformative impact that mobile technology will have on the future of retail," Bhanote said in the release.

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