POS terminal

A civil antitrust lawsuit was filed by the Justice Department against the acquisition by VeriFone Systems Inc. of Hypercom Corp. In the official statement the DOJ said that the deal would substantially trim the competition in the market of point-of-sale terminals in America which in turn would result in higher prices and lame innovation.

While Hypercom and VeriFone proposed their plan to fix the antitrust concerns it failed to adequately resolve those concerns, says the Department.

Chase Paymentech has launched a new suite of solutions to protect online merchtans against fraud and POS merchants against data breaches. The new services are dubbed as Safetech™ Fraud and Security Solutions.

First Data Corporation acquired 81% stake in the POS terminal business of Indian largest private sector lender ICICI Bank for $80 million.

The two companies have established a joint venture called ICICI Merchant Services Pvt Ltd where FDC would hold 81% and ICICI Bank 19%.

This is the first time that an Indian bank has sold its POS terminal business