VeriFone buys Global Bay Mobile Technologies

retail software, to expand its retail mobility strategy, Banking Business Review reports.

California-based VeriFone Systems said with this purchase, it is looking to bring the power of mobile into the world of retail and payments, extending new smartphone- and tablet-based shopping and payment experiences to retail organisations.

CSNews states that retailers and consumers can continue to look to VeriFone to provide the most sophisticated and secure commerce experiences.

"Global Bay's mobile retail applications complement our vision to deliver rich commerce solutions that open up new opportunities for merchants to engage their customers in deeper, more meaningful ways that will generate increased profitability and shopper loyalty," says Jennifer Miles, VeriFone's executive VP.

Global Bay's technology is expected to be paired with VeriFone's secure mobile payment technology, Biz Journals notes.

Global Bay's CEO, Sandeep Bhanote, joins VeriFone as GM of its mobile retail systems business, and its VP, Nimit Sabharwal, has been named senior director of operations. Its management, technology, sales and support staff are expected to continue in their present roles within the division.