Verifone Holdings (NYSE:PAY) is an international producer and designer of electronic payment products. The firm's products allow merchants to integrate payment functionality into their systems such as with electronic payment products that connect directly to the internet through IP-based (internet protocol) and Wi-Fi technology.Customers of Verifone's products include global financial institutions, payment processors, petroleum companies, large retailers, government organizations and healthcare companies, as well as independent sales organizations (ISOs).  Verifone's Total Revenue increased to $922 million for Fiscal Year 2008 as compared to $902.8 million for Fiscal Year 2007 due to an increase in the sale of electronic payment system products internationally.
Verifone is expanding its international market and already has a presence in East Asia, the Middle East, Latin America, Europe, and North America. Until 2008 the firm earned the majority of its revenue from the North America market, which is comprised of Mexico, Canada, and the United States. However, economic growth abroad, coupled with infrastructure development, support from governments seeking to increase value-added tax (“VAT”) and Sales Tax collections, and the expanding presence of IP and Wireless communication networks has resulted in revenue from abroad exceeding revenue generated from domestic sales. Specifically, its' North America market share has fallen from 57.4% of total revenues in 2006, to only 39% or $359.14 million in total revenues for fiscal 2008. On the other hand, International operations went from comprising only 42.5% of total revenues in 2006 to 61% or $564.46 million of total revenues in 2008.(Read more at Wikinvest )