Payments And eCommerce Platform Verifone Acquires 2Checkout

Verifone, which provides payment and eCommerce products, has acquired 2Checkout.

“Both 2Checkout and Verifone share a vision to simplify modern commerce and enable frictionless experiences,” 2Checkout President and Chief Operating Officer Erich Litch said in a blog post. “More than 14 years ago, 2Checkout embarked on a journey to transform the digital buying and subscribing experience across the globe for companies of all sizes,” he wrote, adding that the company had “helped thousands of clients grow their businesses globally.”

“As we continue our journey as Verifone, we now have even greater financial strength, scalability, resources, relationships and market potential,” said Litch. Addressing employees, Litch said, “In the short term, we are going to continue with the current 2Checkout vision and roadmap.”

As for 2Checkout clients, he said, “Our service offerings are not impacted, and customers do not have to take any action. No service disruptions or billing changes to deal with.” In addition, he said that in the long term, “2Checkout clients will not only benefit from enhanced solutions with stronger capabilities, but also from increased innovation and operational efficiency from leveraging Verifone’s significant presence, market share and experience in global commerce.”

Verifone’s website slogan is “Redefining the Customer Journey.” The company has “a single global unified platform to provide your customers a seamless payment experience with any payment method.”

Mike Pulli became CEO of Verifone in 2018. He had previously joined Francisco Partners Consulting.

His rise to CEO became official at the closing of Francisco Partners’ $3.4 billion deal to buy Verifone and take the company private. Other investors included Canadian firm British Columbia Investment Management Corporation (BCI).

At the time the deal closed, Francisco Partners said it had raised more the $14 billion and invested in more than 200 technology companies all told.

“Verifone’s payments technology is critical to the operation of merchants around the world. We are excited to build upon Verifone’s strong platform to continue to drive growth and bring additional capabilities to Verifone’s customers,” said Peter Christodoulo, partner at Francisco Partners, at the time.