VeriFone Pays $800 Million-Plus for Europe’s Big Payment Provider

VeriFone Systems has acquired Point, which is a major retail payment and gateway provider in Europe, for €600 million ($817 million). It also agreed to pay down Point’s debt totaling €170 million ($230 million). VeriFone, which has been on an acquisition spree lately, says it will use the technology to quickly deploy alternative payment platforms worldwide.


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work