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January 31, 2012
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| 10:48 EDT |  | PAY |
| theflyonthewall.com: | VeriFone climbs after MasterCard introduces new card technology | | VeriFone (PAY), which provides retail electronic payment devices that process credit cards, is advancing after MasterCard (MA) indicated that it would seek to introduce in the U.S. a new credit card standard, known as EMV technology. EMV technology, which would replace magnetic stripes, is currently available on credit cards with chips, the company said. Furthermore, MasterCard said that it would incentivize merchants to implement new EMV-compatible payment terminals. "We're moving toward a world...where consumers will shop and pay in a way that best fits their needs and lifestyles with a simple tap, click or touch in-store, online or on a mobile device," said Chris McWilton, President, U.S. Markets, MasterCard. In a note to investors, JP Morgan said that MasterCard's announcement is positive for VeriFone because MasterCard, unlike Visa (V), is providing incentives for adopting "chip-and-PIN" technology. In mid-morning trading, VeriFone jumped $3.20, or 8.12%, to $42.61. :theflyonthewall.com |
| | 10:00 EDT |  | PAY |
| | 09:37 EDT | | PAY |
| | 08:21 EDT |  | PAY |
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