On April 14, 1981, in Honolulu, Hawaii, William “Bill” Melton incorporated his new tech company. His original intention was to provide a recourse for retailers who’d been swindled by people handing out bad checks. His product was a kind of verification device using phone lines—a verification phone.
But he soon pivoted. The credit card industry was relatively new at the time and processing was still being done with carbon paper. Bill saw a way to reduce costs for companies like Visa and MasterCard, while capitalizing on his new technology. Instead of verifying checks, he would provide local businesses a means to electronically process credit card payments. And thus, the Verifone payment device was born.
Now, Verifone is one of the world’s largest POS terminal vendors and a leading provider of payment and commerce solutions. We operate in more than 150 countries and employ nearly 6,000 people globally. Our steady growth has come organically, through a dedication to innovation and strategic partnerships, as well as from savvy acquisitions.