Deal for apps maker expected to strengthen VeriFone's position in the mobile payments market.
The mobile-payment joint venture, backed by big U.S. wireless carriers, aims to expand its reach via makers of e-commerce payment systems and terminals.
That's according to the CEO of Verifone, who makes payment systems for merchants and is bullish about its prospects.
This story incorrectly referred to Payfone as a manufacturer of point-of-sale terminals. The actual payment terminal company is Verifone.
The eBay-owned payments processor may launch a device that would put it in competition with the likes of Square, Verifone, and Intuit, GigaOm reports.
Partnership brings more tech cred to VeriFone in its battle in the mobile payments arena, where it's squared off against well-funded start-ups.
A new NFC system being ramped up by Verifone and Micros for the restaurant industry would allow diners to pay their checks through their NFC-equipped mobile phones.
NFC readers from VeriFone to be installed at stores in New York and San Francisco, Bloomberg reports.
Gores' adoption of the Hewlett-Packard division provides an opportunity for VeriFone to fare better than its cousin CyberCash, which recently filed for bankruptcy.
Gores Technology Group plans to acquire the e-payment company from Hewlett-Packard, which said last year it was looking to sell the business.