VeriFone Holdings, Inc. has announced that it is co-lead investor in a reverse merger financing for Trunkbow International Holdings Ltd., a Jinan, People’s Republic of China-based mobile payments and value-added service applications company.

VeriFone invested $5.0 million of the approximately $22.5 million raised, giving VeriFone a pro-forma fully diluted ownership stake of 8.6%. The transaction values the company at a post-money valuation of $65.0 million. Albert Liu, VeriFone senior vice president and general counsel, will join Trunkbow’s board of directors effective today.

Additionally, Trunkbow has announced that VeriFone has been named the preferred supplier of payment systems technology to Trunkbow and has awarded VeriFone with an initial order to supply wireless payment solutions, including the CDMA-based Nurit 8000.

Trunkbow was founded in 2001 and is a leading provider of technology platform solutions in China that enable telecom service providers to deploy mobile value-added service applications for their subscribers. In 2009, Trunkbow began rolling out its mobile payments platform initially throughout the province of Shandong with one of the large China telecom carriers and plans similar deployments throughout multiple provinces with multiple telecom carriers. Together, Trunkbow and its telecom partners expect to deploy approximately 125,000 mobile payment terminals integrated with Trunkbow’s 2.4 GHz Near-Field Communications (NFC) technology over the next 3 years.

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