VeriFone and MasterCard are targeting small businesses with new mobile payment technologies, but there are plenty of start-ups bringing innovation to these solutions.
Mobile payments darling Square faces increased competition this week from several big-name and emerging players, including giants VeriFone and MasterCard.
VeriFone Systems has unfurled a solution called SAIL by VeriFone, its gambit into the the mobile payments fray. The company is touting the fact that its platform is “open,” that is, compatible with various smartphone and tablet devices as well as traditional payment acceptance technologies. SAIL can be integrated with EMV smartcard, NFC contactless and other mobile payment standards, VeriFone said.
The service works with a credit card reader that attaches to your Apple iPhone or Android smartphone; you download a free mobile app to interact with the service. The iPhone edition is available immediately; the Android version is due in late May 2012.
The application also integrated with social networking channels, including Facebook, Twitter and Yelp, which could help small retailers and merchants with customer relationship management (CRM).