VeriFone Unfurls the SAIL

by Mercator Advisory Group 0

Point-of-sale device maker and payments technology vendor VeriFone today announced the availability of its latest iteration in mobile payment acceptance solutions, SAIL. The company’s press release indicates that Vantiv will be the first SAIL reseller:

“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.”

With the mobile payment product comes the opportunity for merchants to take advantage of volume pricing, with SAIL offering two options for rates:

[L]ower volume businesses can opt for a flat 2.7% fee for swiped transactions, while those with higher volumes may select a monthly $9.95 subscription with a discounted 1.95% transaction rate…

The announcement also states that the service includes a free app and data-encrypting card reader, as well as a software development kit (SDK). For merchants with fixed-location points of sale, VeriFone says, SAIL is easily integrated with the company’s other devices, and that the platform is magstripe, contactless, barcode, and EMV-capable, using VeriFone’s PAYware Connect gateway. The company seems to be positioning SAIL as a more robust mobile option for its channel partners who already have white-labeled or in-house mobile acceptance solutions.

“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,” said VeriFone CEO Douglas G. Bergeron. “We are delivering a flexible experience with the level of security and reliability that businesses and consumers have come to expect from VeriFone.”

Click here to read more from VeriFone’s press release.