21 February 2017
visit nextgenbanking.co.uk

VeriFone revamps card reader to take on Square

08 May 2012  |  6423 views  |  0 Verifone Sail

VeriFone has unveiled a revamped and rebranded version of its dongle and app-based system that turns mobile phones into payment card readers as it bids to stand out in an increasingly crowded market currently dominated by Square.

Terminal giant VeriFone's Payware Mobile has spent the last two years competing with Square, Intuit's GoPayment and, most recently, PayPal Here. Now the firm has unveiled Sail, which also consists of a free Android or iOS app and card reader that securely encrypts transaction data, enabling merchants to accept payments through their handsets.

However, the new platform is also open to banks, technology companies and sales organisations, meaning that they can build their own payment or marketing tools on top of VeriFone's infrastructure. The platform includes a mobile SDK and secure gateway with end-to-end encryption, real-time merchant fraud screening and boarding APIs, merchant processing and settlement services, and the ability to connect to third party marketing, loyalty and social media tools.

Meanwhile, bar code scanning technology in the app lets retailers offer quicker retail check out and item level data integration opportunities for third-party partner services such as loyalty.

Douglas Bergeron, CEO, VeriFone, says: "VeriFone has created a unique open ecosystem that builds on our payment-as-a-service vision to foster innovation in the developer and payments communities and maximize choice for small to medium-sized businesses. We are delivering a flexible experience with the level of security and reliability that businesses and consumers have come to expect from VeriFone."

Verifone will charge the same 2.7% transaction fee as Square with an option of a lower 1.95% fee for those willing to pay $9.95 a month.

The US dongle and app market has developed into a lucrative and competitive area over the last two years. With a million customers, Square has so far dominated, surviving an aggressive attack on its security credentials last year by VeriFone.

However, PayPal has emerged as a dangerous rival, signing up 200,000 merchants within weeks of launching 'Here' and VeriFone hopes that its new, open, system and established network of merchants will prove a winning combination.

Yet another player, PayAnywhere, says its version, which works with iOS, Android and BlackBerry devices will begin shipping to US retailers this month and Heartland Payment Systems today unveiled an Android-specific system, called Mobuyle, for its restaurant customers.
KeywordsEFTPOS

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

PayPal Here signs up 200k merchants in weeks

PayPal Here signs up 200k merchants in weeks

04 May 2012  |  11476 views  |  0 comments
PayPal launches Square rival

PayPal launches Square rival

16 March 2012  |  11640 views  |  4 comments
Square bids to take over the point-of-sale

Square bids to take over the point-of-sale

05 March 2012  |  10456 views  |  2 comments
MPowa launches UK's Square

MPowa launches UK's Square

23 January 2012  |  21204 views  |  11 comments
Intuit takes GoPayment to Canada

Intuit takes GoPayment to Canada

10 January 2012  |  7182 views  |  0 comments
Virgin mogul Branson makes 'multimillion dollar' investment in Square

Virgin mogul Branson makes 'multimillion dollar' investment in Square

08 November 2011  |  9158 views  |  0 comments
Intuit turns up the heat on Square with AT&T partnership

Intuit turns up the heat on Square with AT&T partnership

07 November 2011  |  11530 views  |  0 comments
Sweden's Square hits App store

Sweden's Square hits App store

19 August 2011  |  14060 views  |  4 comments
Square bids to kill off the cash register

Square bids to kill off the cash register

24 May 2011  |  11627 views  |  0 comments
Following VeriFone spat and Visa investment, Square adds encryption

Following VeriFone spat and Visa investment, Square adds encryption

03 May 2011  |  9226 views  |  0 comments
VeriFone taps Facebook to bash Square

VeriFone taps Facebook to bash Square

22 March 2011  |  8990 views  |  0 comments
Square accused by rival of massive security failing

Square accused by rival of massive security failing

10 March 2011  |  12775 views  |  5 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit dh.com Visit contisgroup.com

Top topics

Most viewed Most shared
IBM and Visa join forces to turn billions of connected devices into points of saleIBM and Visa join forces to turn billions...
16514 views 11 comments | 52 tweets | 85 linkedin
Nesta launches £5 million Open API challengeNesta launches £5 million Open API ch...
10234 views comments | 21 tweets | 19 linkedin
Jaguar embeds payments into digital dashboardJaguar embeds payments into digital dashbo...
9948 views comments | 49 tweets | 57 linkedin
The fintech effect: Banks buy in to benefits of boosting financial well-beingThe fintech effect: Banks buy in to benefi...
9184 views comments | 17 tweets | 12 linkedin
hands typing furiouslyBlockchain - The Next Banking Blockbuster?
8103 views 0 | 12 tweets | 7 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job