It looks like Square has yet another competitor in the mobile payments arena. Global payment leader VeriFone has announced SAIL, a credit card reader much like Square’s, that will attach to a number of mobile devices. While VeriFone may have a little catching up to do, they have the advantage of an extensive network with a commanding percentage of retail transactions passing through their service.

Anyone with an Android or iOS device who wishes to use SAIL, will receive a free mobile app and card reader that securely encrypts card data with each transaction. SAIL offers simple pricing options for both low and high volume businesses: lower volume businesses can opt for a flat 2.7% fee for swiped transactions, while higher volume businesses can pay a monthly $9.95 subscription with a discounted 1.95% transaction rate.

Some of SAIL’s key features 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.

VeriFone is also opening up the SAIL platform to third-party developers to incorporate into their own apps. SAIL is currently available for iOS and will be coming to Android later this month. To download the app or find more information about the SAIL system, follow the source links below.

App Store Link | SAIL Payments

• SourceSAIL
• ViaVeriFone