Following the announcement of Starbucks' $25 million deal with Square, much attention has been focused on rival point-of-sale device manufacturer VeriFone.

Since the Starbucks/Square deal was announced on Wednesday, VeriFone shares have tumbled more than 10 percent and it has become a handy antagonist for news outlets pushing a David vs. Goliath narrative with Square as the plucky hero. (It doesn't hurt the storyline that VeriFone CEO Doug Bergeron has had a rather public feud with Square since last year, and as recently as last week compared Square to dot com-era bust Pets.com.)

But Bergeron isn't worried. In an interview with CNBC, he said his company is making the changes necessary to take advantage of the new world of mobile payments.

Bergeron also told CNBC that the Starbucks/Square deal, which has focused attention on mobile payments, will actually be good for VeriFone.

"It’s probably going to stimulate a number of our existing customers to work with us to do even more innovative things, including with their existing infrastructure and offering mobility in other ways to speed up checkout times," Bergeron told CNBC.

From a market standpoint, the 7,000 Starbucks locations that will accept Square make a tiny footprint compared to VeriFone's giant one. The POS-maker owns 70 percent of the retail market. It has been busy adapting to the burgeoning mobile payment market as well, recently releasing its own Square-like mobile POS service called Sail. 

"Companies like VeriFone that have incumbency and are willing to change will do very well," Bergeron told CNBC.

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