VeriFone Introduces EMV, NFC Capable mPOS Solution

by Mercator Advisory Group 0

VeriFone has introduced a Sail mPOS product capable of accepting EMV and NFC transactions. The solution is based around a dongle that plugs directly into the headphone jack of an iPhone or Android device.

The platform also includes a software development kit (SDK), a secure gateway, and the ability to connect to third-party marketing and loyalty tools. Vantiv, the third largest merchant acquirer in the U.S., will soon market the Sail solution to select merchants.

From NFC News:

“As a simple and cost effective solution, Sail complements our existing merchant service offerings to small businesses,” said Bill Weingart, Chief Product Officer at Vantiv. “Leveraging the VeriFone platform opens up new opportunities for our clients to transact card payments and provides a foundation that allows us to continually innovate.”

Although a number of companies are offering similar solutions, few of those companies have VeriFone’s experience in the POS terminal market. This experience will enable VeriFone to better tailor its solution to the needs of the market and anticipate what future needs will have to be met.

VeriFone provides two pricing options for merchants using their solution: a flat 2.7 percent fee, or a 1.95 percent rate with a monthly fee of $9.95. This second option offers a preferable rate for merchants with higher transaction volume, while still maintaining the simple rate structure that attracts merchants to mPOS solutions.

The Sail mobile app is currently available in the Apple App Store, and will be available on the Android Market later this month.

Click here to read more from NFC News.

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