VeriFone Systems (NYSE: PAY), today announced a next-generation version of PAYware Mobile Service for global markets.
This latest innovation features VeriFone's sleek mobile payment solution and gateway service and brings international payment standards including NFC and EMV smart card, with PCI-compliant PIN keypad for Chip & PIN transactions, to popular smart phones.
With this solution, small businesses around the world will be able to accept smart card, mag-stripe card and contactless-based payments anywhere at any time. The second generation of PAYware Mobile will be available in the UK and Canadian markets during the first quarter of 2011. In addition, PAYware Mobile will be introduced into additional countries across Europe, Latin America and Asia throughout 2011.
"PAYware Mobile struck a chord with micro merchants in North America who wanted to be able to quickly and securely accept credit card payments anywhere by leveraging a cost-effective, mobile smart phone" said Paul Rasori, VeriFone senior vice president of marketing. "VeriFone is now leveraging our global partnerships and distribution capabilities to provide a mobile payment platform that supports regional demands for EMV, NFC-based applications, and secure, PCI-compliant PIN entry."
Each generation of PAYware Mobile provides smaller merchants with a cost-effective alternative to dedicated payment devices by providing an entire smart phone-based solution that includes VeriFone's VeriShield Protect end-to-end encryption of card data. Users also gain access to sophisticated reporting tools via VeriFone gateway services, as well as the ability to email customized receipts to customers.
The global version of PAYware Mobile incorporates a battery that provides 10 hours of PIN pad operation so users can accept payment without impacting on the smart phone's battery. It also incorporates a mini-USB port for convenient charging capability.