NEW YORK (TheStreet) -- Shares of VeriFone Systems Inc (PAY) were down 0.98% to $38.55 in mid-morning trading Thursday, ahead of the company's second-quarter earnings release after the market closes later today.
Wall Street is expecting the maker of P.O.S. cash-register systems to earn 42 cents per share on revenue of $489 million for the period.
Yesterday, VeriFone announced that the company teamed up with Visa (V) to speed up omni-channel commerce globally.
The two companies are partnering to create a more streamlined omni-channel commerce experience for its customers.
As part of the partnership, Verifone will connect its point of sale gateway to Visa's CyberSource global merchant payment management platform.
San Jose, Calif.-based VeriFone is engaged in the secure electronic payment solutions.
Its system solutions consist of point of sale electronic payment devices that run its and third-party operating systems, security and encryption software, and certified payment software, as well as other third-party value-added applications.
Insight from TheStreet's Research Team:
Christopher Laudani commented on VeriFone in a recent post on RealMoney.com. Here is a snippet of what Laudani had to say about the stock:
To me, VeriFone is stuck in the past. The company dominates the credit-card terminal sector, but that's a slow-growth business. Mobile electronic-payment volumes are expected to exceed $37 billion this year, but that benefits Apple (APPL) and the Android operating environments.