NEW YORK (TheStreet) -- VeriFone Systems (PAY) is "one of my favorite companies," TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on Tuesday's CNBC "Mad Dash" segment. 

The company beat on earnings per share and revenue estimates for its fiscal fourth quarter, growing sales by 13.6% year-over-year. Shares are higher by 4.5% in response. 

PAY Chart
VeriFone Systems PAY data by YCharts

VeriFone Systems stands to benefit from the shift to EMV chip credit cards, which will require a pin number. Therefore, VeriFone's new payment terminals will be in demand, Cramer said. 

Cramer also pointed out that on the company's conference call, management said Apple's (AAPL) Apple Pay is doing quite well and continues to see increasing demand. This also bodes well for VeriFone and its new payment terminals, Cramer reasoned. 

If the stock is still in the $30s one year from now, it will be acquired by another company. "PAY should be bought right here, right now," Cramer stressed.

-- Written by Bret Kenwell

Follow @BretKenwell

At the time of publication, Cramer's Action Alerts PLUS held AAPL.

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