Sure PayPal launched its own mobile point-of-sale system. And Square has been grabbing headlines for over a year. And other mobile POS vendors are dropping prices or enhancing their services to appeal to political campaigns. Mobile POS is a crowded and busy space.

So what does VeriFone do? Beat them all where it counts: processing payments.

VeriFone announced that U.S. transaction volume through its PAYware Connect gateway is now processing more than $10 billion a year, an industry milestone.

"The $10 billion milestone is an industry first, and clearly sets VeriFone well ahead of the competition," said VeriFone CEO Douglas Bergeron in the announcement. "We expect continued great momentum in this exciting range of payment service offerings."

VeriFone said the rapid U.S. growth of PAYware Connect reflects VeriFone's wide range of offerings to merchants of all sizes. The company said small merchants select PAYware Mobile solutions for use with smartphones and tablets while large merchants use PAYware for in-the-aisle checkout and for solutions that are integrated with other retail systems.

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