VeriFone Quietly Sells Sail

by Mercator Advisory Group 0

An article from Mobile Payments Today breaks the news that point-of-sale solution company VeriFone has apparently sold it SAIL mobile POS business to an undisclosed buyer.

VeriFone indicated in December that it would exit the business in the United States while still offering mobile POS through white-label partners. The firm still planned to begin offering SAIL in international markets this year, and announced planned support for EMV card acceptance on mobile devices. The relative quiet surrounding the transaction is leaving the mobile payments space wondering about SAIL’s ultimate fate.

From Mobile Payments Today:

Lost in the recent flurry of VeriFone news, including its partnership with MasterCard and low earnings, VeriFone apparently has sold its SAIL Pay mobile point-of-sale business. A notice quietly appeared on the SAIL website saying VeriFone “will soon begin the process of transferring our direct sales business to new ownership.” No information on who the buyer is or the terms of the sale are available at this time.

SAIL merchants also received an email from VeriFone Vice President David Talach last week informing them of the sale. The email said the sale was completed on Jan. 31. Merchants were notified that, due to the transaction, VeriFone will cease offering the SAIL service as of March 1.

Click here to read more from Mobile Payments Today.