Independent payment gateway Shift4 Corp. today announced VT4, which is mobile payment product for enterprises. Accessible through a mobile app or a Web browser, VT4 turns mobile devices into point-of-sale terminals, the company said in an announcement.

"A lot of the mobile technologies on the market today simply don't provide the features that larger businesses require," Shift4 CEO Dave Oder said in a press release. "Many merchants sacrificed security and PCI compliance in the rush to adopt early mobile solutions. VT4 is the answer that businesses have been looking for; it is mobile payments designed with the enterprise in mind."

Shift4 said in a statement VT4 provides online and offline processing capabilities that enable users to complete credit, debit, cash and gift card transactions across all business outlets, including resort properties with onsite retail and restaurants. The company said that VT4 is the first 100-percent bank- and processor-neutral payment app and also allows for an unlimited number of MIDs and users.

Shift4 claimed in statement VT4 fills the security gap left open by current mobile payment apps. Using TrueTokenization and P2PE, VT4 ensures sensitive cardholder data never enters the mobile device. It also offers complete administrator control over the devices  as admins can remotely add or disable a user's access, or modify their permissions in real time.

Transactions processed through VT4 will batch and settle alongside transactions from a merchant's POS systems at the end of each day, Shift4 said in its statement.