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Small and Medium-Sized Businesses Set SAIL with VeriFone

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[05/14/12]
VeriFone Systems, Inc. today introduced SAIL by VeriFone, a streamlined, cost effective payment-as-a-service platform that provides business owners and merchants an easy and secure way to accept payments wherever business takes them. With SAIL's simple sign-up process, merchants can begin accepting payments at cost-saving rates within minutes.

The open and flexible nature of SAIL makes the solution uniquely compatible with mobile devices, such as tablets and smartphones, as well as traditional payment acceptance devices.

Other micro-merchant systems are closed to the US bank and processing community. VeriFone's unique open platform allows for rapid expansion and adoption through VeriFone's extensive network of processors, ISOs, and channel partners.

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.

"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."

SAIL offers two simple 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 that could save up to thousands of dollars in fees annually over competing services.

SAIL enables banks, technology companies and independent sales organizations to build their own payment or marketing solutions on top of VeriFone's secure infrastructure. 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.

Vantiv, Inc., the third largest merchant acquirer and the largest PIN debit acquirer based on number of transactions in the U.S., will begin to market SAIL technology to select 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."

SAIL is designed to help businesses retain and attract customers through integration with social media channels such as Facebook, Twitter and Yelp. In addition, SAIL eliminates complicated processing statements and simplifies the retail checkout process, giving merchants more time to focus on managing and growing their business. Key features that enhance the ability of businesses to increase sales and better manage payments include:

  • Dynamic dashboards to access detailed reporting of each transaction and bank deposit, while a streamlined item and inventory management tool provides deeper visibility into sales and business activity.

  • Innovative bar code scanning technology in the SAIL mobile app for quicker retail check out, offer redemption, and item level data integration opportunities for third-party partner services such as loyalty and CRM.

  • The secure PAYware Connect gateway, which provides end-to-end encryption and real-time merchant fraud screening in an easy to use framework that brings 30 years of VeriFone security experience to merchants of all sizes for the first time.

    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 SAIL Developer and Channel Partner programs will officially launch in Summer 2012. Interested parties can visit www.sailpay.com/developers to express interest in participating.

    About VeriFone Systems, Inc.

    VeriFone Systems, Inc. ("VeriFone") is the global leader in secure electronic payment solutions. VeriFone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. VeriFone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide. www.verifone.com


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