VeriFone Systems (NYSE: PAY) has introduced SAIL by VeriFone, a payment-as-a-service platform that provides business owners and merchants a new way to accept payments.
According to the company, the open and flexible nature of SAIL makes the solution compatible with mobile devices, such as tablets and smartphones, as well as traditional payment acceptance devices.
Customers using iOS or Android devices with SAIL will receive a free mobile app and card reader that securely encrypts card data with each transaction. For merchants with higher volumes and multiple locations, SAIL offers integration with traditional VeriFone countertop devices that support emerging standards such as EMV smartcard, NFC contactless, mobile wallet, and more.
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“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.
SAIL offers two pricing options to meet the needs of many business types, from the newly emergent mobile merchant to those more established with fixed locations.
Lower 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.
Moreover, SAIL enables banks, technology companies and independent sales organizations to build their own payment or marketing solutions on top of VeriFone’s secure infrastructure.
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The platform includes a mobile SDK and secure gateway with end-to-end encryption, real-time merchant fraud screening and boarding APIs, merchant processing and settlement services, and the ability to connect to third party marketing, loyalty and social media tools.
The SAIL app for mobile devices is immediately available for download from the Apple App Store, and will be available on the Android Market later this month. Merchants can subscribe to the service directly from their mobile device or visit www.sailpay.com. Setup is instant, with merchants able to accept payments immediately upon enrollment.
The company says the SAIL Developer and Channel Partner programs will officially launch in Summer 2012.