(UPDATED) As if the mobile POS market isn't crowded enough, VeriFone is getting ready to release its second mobile POS product called Sail. The announcement is set for tomorrow (presumably as a part of this year's CTIA Wireless conference) but has been widely reported already today.

The product comes with a snazzy encrypted credit card reader that lets users -- mainly small businesses -- swipe cards and process transactions while on the go. The site for Sail is already up and ready, advertising rates at 1.95 percent per transaction plus a $9.95 monthly fee, or 2.7 per transaction with no monthly fee.

Sail is vaguely similar to VeriFone's existing mobile POS product PAYware. The big difference seems to be the reader is slimmer and smaller and vaguely reminiscent of other readers from Square and PayPal Here in that it sports a distinctive look. (Sail merchants can also use VeriFone's dedicated mobile terminal which will allow them to accept NFC-enabled mobile wallets too.) The product also comes with a merchant account through VeriFone meaning sign-up is as simple as linking Sail to an existing bank account.

UPDATE: See full story here.

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