VeriFone Holdings (NYSE: PAY) today announced it is shipping its PAYware Mobile secure credit card encryption sleeve for iPhone and that the complementary PAYware Mobile app is now available on the App Store.
PAYware Mobile provides small businesses with simple and secure card processing capabilities using the revolutionary iPhone. The app and patent-pending card encryption technology are provided free in conjunction with a low cost PAYware gateway services agreement.
VeriFone also announced it is initiating a major online advertising campaign to introduce small businesses to the benefits of offering secure card acceptance using iPhone.
"Pre-order response to PAYware Mobile for iPhone has been phenomenal," said VeriFone CEO Douglas G. Bergeron. "Clearly, we have tapped into the vast wellspring of small business owners who want the benefits of secure card acceptance but have been deterred by the cost of entry in the past."
VeriFone's sleek and durable card encryption sleeve slips over iPhone to accommodate card swipes and allow merchants to avoid high-cost "card-not-present" fees. It incorporates a stylus for signature capture and a mini-USB port for charging iPhone while the ergonomic encryption sleeve is attached.
VeriFone's card acceptance solution for iPhone is based on years of expertise in payment security and provides patent-pending end-to-end card data encryption from the moment the card is swiped, so unprotected data never transits or is stored on iPhone itself. Using the card encryption sleeve with VeriFone's app qualifies merchants for lower-cost "card present" interchange fees, which typically results in a 30 percent savings over manually entering card numbers.
The PAYware Mobile App is available free for iPhone on the App Store or at itunes.com/appstore/. The card encryption sleeve peripheral for the iPhone 3G and 3GS is available through authorized VeriFone distributors.
VeriFone's gateway processing solution, PAYware Connect, is widely certified by U.S. card processors. Users with existing merchant accounts will be able to set up PAYware Mobile with their current processor; those without existing processing relationships will be able to select from a variety of options.