VeriFone Holdings, a global provider of electronic payment solutions, has launched PAYware Mobile, a payment solution for the Apple iPhone that provides small businesses with card processing capabilities on smartphone platform.
PAYware Mobile includes a PA-DSS approved payment app and a durable card reader that slips over the iPhone to accommodate card swipes and allow merchants to avoid ‘card-not-present’ fees. The combined hardware and software provides the card payment security that include VeriFone’s VeriShield Protect end-to-end encryption solution as a standard feature.
Transactions initiated by PAYware Mobile will be managed through VeriFone’s PAYware Mobile secure gateway and routed to one of many credit card processors for authorization and settlement. VeriFone expects to make PAYware Mobile fully available to most other processors.
The PAYware Mobile card reader utilizes a secure magnetic stripe read-head and firmware certified to the Federal Information Processing Standard FIPS 140-2. Card details are immediately encrypted during the card swipe process, meaning no sensitive data ever reaches the payment app, eliminating the possibility of compromise either on the iPhone or when information is transmitted over WiFi or cellular wireless.
VeriFone’s payment solution for the iPhone is expected to put mainstream payment processing capabilities in the hands of small business merchants, who need a mobile card acceptance solution for enterprises such as home repair, small cafes, door-to-door sales, or virtually any other type of business.
Douglas Bergeron, CEO of VeriFone, said: “The complete PAYware Mobile solution brings secure payment capabilities to merchants who previously could not justify a dedicated payment acceptance device. We believe this represents a potential market of millions of small businesses worldwide.
“PAYware Mobile leverages VeriFone’s proven payment and security expertise to provide the ultimate in end-to-end protection against payment fraud and misuse on an open and unregulated platform such as the iPhone.”
