December 10, 2009, 12:00 AM

Small retailers can use VeriFone system to accept payments on iPhones

VeriFone has introduced a payment solution for the Apple iPhone that provides small merchants with secure card processing capabilities. The hardware/software solution is available free to those who sign up for a secure gateway service agreement.

VeriFone Holdings Inc. has introduced PAYware Mobile, a payment solution for the Apple iPhone that provides small merchants and other businesses with simple and secure card processing capabilities.

VeriFone’s payment solution for the iPhone puts mainstream payment processing capabilities in the hands of small businesses that need a mobile card acceptance solution for operations such as small cafes, home repair and door-to-door sales. The hardware and software solution will begin shipping January 15 and is available free to those who sign up for a PAYware Mobile secure gateway service agreement.

PAYware Mobile includes a payment application data security standard-approved payment app and a durable card reader that slips over the iPhone to accommodate card swipes and allow merchants to avoid higher cost card-not-present fees. The combined hardware and software includes VeriFone’s VeriShield Protect end-to-end encryption solution as a standard feature.

“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,” says CEO Douglas G. Bergeron. “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.”

VeriFone’s iPhone payment solution will be available through existing bank acquirer and other channels, as well as direct from VeriFone. VeriFone expects to eventually make PAYware Mobile available wherever mobile phone accessories are sold. Customers who sign up directly with VeriFone without existing merchant accounts will be directed to a variety of payment processor options.

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