Today, VeriFone Systems announced it has acquired Global Bay Mobile Technologies for an undisclosed sum. VeriFone is a well-known producer of point-of-sale equipment for electronic payments. The acquisition of Global Bay, a provider of mobile payment solutions, is the latest development in VeriFone’s strategy to combine mobile and retail payment. The company plans to extend smartphone – and tablet-based shopping and payment experiences to retail organizations.

VeriFone plans to extend Global Bay’s platform beyond payments and offer a complete set of mobile retail applications, including Mobile POS, Clienteling and Store Inventory Management. Jennifer Miles, VeriFone executive vice president, North America commented: “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.”

Check out the video to see how VeriFone expands its mobile payment service: