cent of the company's revenues (Freedman, 1993, p. 25).
In 12 years, VeriFone, headquartered in Redwood City, California has experienced steady growth and sees more ahead as small and non-traditional retailers, including corner stores, movie theaters, and gas stations, make the changeover to on-line electronic financial transactions. VeriFone manufactures the credit or debit processing box that reads the magnetic strip on a bank card. When the company was founded in 1981, retailers were lucky if they could get a telephone authorization on most transactions, and specialized equipment for immediate processing of transactions was rare. By the end of the 1980s, though, VeriFone had acquired more than half the market for retail transaction processing terminals and become the industry leader in new products for specialized markets. Today, as noted, the company is considered to have about 65 percent of a market that is continuing to expand into new areas, and VeriFone is able to turn over new products to its installed base about every four years. Revenue projects for 1993 are
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