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VeriFone officially announces new SAIL mPOS solution

Point of sale giant VeriFone Systems Inc. officially unveiled its new SAIL mobile POS system today at the CTIA Wireless 2012 conference. The payment-as-a-service platform is aimed at small and medium-sized businesses giving them the ability to accept payments using Android or iOS smartphones and tablets.

The SAIL solution has a distinctive new credit card reader that attaches to a device's audio jack. The app and card reader are free and securely encrypt card data from end-to-end. Larger merchants with higher volumes or multiple locations can opt for traditional VeriFone countertop devices instead of a smartphone or tablet. That gives them the ability to support emerging standards such as EMV smartcard, NFC contactless and mobile wallet as they evolve.

Additionally, unlike other mobile POS solutions in the space, VeriFone's SAIL product is designed to be open and flexible. That means partners and processors can integrate it into their own payment or marketing solutions using VeriFone's secure infrastructure. VeriFone has released a mobile SDK and secure gateway that includes end-to-end encryption, real-time merchant fraud screening and boarding APIs, and the ability to connect to third party marketing, loyalty and social media tools, the company said.

"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 in the announcement. "We are delivering a flexible experience with the level of security and reliability that businesses and consumers have come to expect from VeriFone.

SAIL's pricing is competitive with other mobile POS solutions on the market. A monthly service plan for larger merchants with higher volumes costs $9.95 per month and 1.95 percent of each transaction. Smaller merchants can avoid the monthly fee an pay 2.7 percent of each transactions.

Merchant acquirer Vantiv Inc. is partnering with VeriFone to handle the processing for SAIL transactions. The company will also serve as a channel partner marketing SAIL to merchants.

"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."

As for the VeriFone's existing mobile POS product PAYware, a source at VeriFone said the company will continue to offer the product through channel partners and independent sales organizations as an option for larger merchants processing higher volumes. That solution is more appropriate for companies looking to add a mobile payment option to an existing payment infrastructure whereas SAIL is for companies who will rely on a mobile device as their only choice for processing credit and debit card transactions, the source said.

For more stories on this topic, visit the POS research center.

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