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    Mastercard aims to speed up your chip-and-PIN payments

    Chip cards are ultimately faster than paying with a magnetic stripe and a signature (or worse, a check), but they're sometimes slow -- and it's bad enough that Mastercard wants to do something. The company is partnering with Verifone and Global Payments to build its speedy M/Chip Fast technology into EMV card reading systems destined for the US. The focus is on fast food, grocery stores, mass transit and anywhere else that waiting even a few seconds might cause frustration (especially for the people behind you).

    Jon Fingas
    05.13.2017
  • Samsung team-up aims to improve your mobile payments

    If you've ever tried paying with your phone at a store, you know that the experience is often only as good as the payment reader -- a sketchy terminal could lead to you pulling out a credit card in embarrassment. Samsung thinks the industry can do better, though. It's partnering with some of the larger point-of-sale device makers (such as Verifone and Ingenico) to guarantee "maximum compatibility and universal acceptance" for Samsung Pay. The hope is that this will boost the adoption of mobile payments simply by giving you a better time when you tap-to-pay, with fewer errors that make you rethink the whole concept.

    Jon Fingas
    04.20.2016
  • Restaurants will soon take any mobile payment at the table

    Sure, your local drug store or theme park may let you buy things with your phone at the counter, but what about paying at the table in your favorite restaurant? Never fear, as Verifone will soon have you covered. Its upcoming Payware Mobile e355 wireless terminal lets stores accept any mobile payment you have, wherever you happen to be. It'll take Apple Pay, Google Wallet and other NFC tap-to-pay transactions, and the design is meant to accommodate as many device shapes and operating systems as possible. You may never have to break out your credit card just because the shop can't handle your new phone.

    Jon Fingas
    01.10.2015
  • VeriFone's Way2ride app lets New Yorkers pay for a cab by tapping their phone, sans NFC

    VeriFone this week launched a new service for NYC taxi passengers, letting customers pay for a cab by tapping any compatible smartphone. Way2ride utilizes Zoosh ultrasound technology, enabling secure payments using the speaker and mic in your device and the payment terminal on the other end. The app, available for Android and iOS devices, lets you pre-select payment info and even a tip amount. To initiate a transaction, you'll simply tap your phone anytime during the ride, then hop out right when you reach your destination -- a receipt will appear within the app. You can even use the app to hail a cab, estimate your fare and report a lost item. Download it now at the source links below.

    Zach Honig
    08.15.2013
  • VeriFone retreats from mobile payments, says acquiring users 'fundamentally unprofitable'

    After joining the mobile payment bandwagon last spring with Sail, VeriFone is ready to scale back its efforts in the venture. "Our experience through 2012 with tens of thousands of these micro-merchants tells us that the standalone economics of micro-merchant acquiring are fundamentally unprofitable," the firm's CEO, Doug Bergeron, said in a quarterly conference call. According to the head honcho, the cost of wrangling up new business users through ads and the like "will never justify the razor thin-margins produced by merchants with infrequent volumes and extremely high attrition." As a result of those costs and the risks of fraud associated with payments, the outfit will be handing off the user recruitment side of Sail to banks and "merchant acquirers," and plans to sell some of the platform's related assets. Despite the company's retreat from mobile payments, Bergeron considers the only way others could survive in the space is to provide merchants with auxiliary services, such as digital wallets, which competitors such as Square have begun to dabble in. VeriFone may have soured on mobile payments, but it's highly likely we'll see others give it the old college try as well.

    Alexis Santos
    12.13.2012
  • Uber shuts down New York City taxi beta, may see light at the end of the (Lincoln) tunnel in February (update: TLC responds)

    Uber has been having a tough time getting a foothold in New York City, and it's temporarily withdrawing the UberTaxi service it had in beta. The withdrawal isn't entirely for the reasons you'd expect, however. While Uber claims to have been getting grief from the city's Taxi and Limousine Commission for offering a competing (if technically legal) service through its smartphone apps, the program's end was due to demand rather than any kind of outright ban -- the Commission's pressure reportedly kept Uber from matching interest with enough yellow cabs. Black car service is still on for those who don't mind the classic ride. Should that uncomfortable balance not be quite good enough, Mayor Bloomberg is promising a truce come February, when a shift in contracts will let New York change the rules and hopefully improve the market for taxi alternatives. Update: TLC Commissioner David Yassky has weighed in with both an elaboration and claims that the Commission has been in favor of newer technology for awhile. He notes that the contracts expiring in February relate to exclusive payment arrangements with Creative Mobile Technologies and VeriFone, and that apps of all kinds (Uber's included) can compete for attention at that point. His full statement: "In recent months, as e-hail apps have emerged, TLC has undertaken serious diligence and is moving toward rule changes that will open the market to app developers and other innovators. Those changes cannot legally take place until our existing exclusive contracts expire in February. We are committed to making it as easy as possible to get a safe, legal ride in a New York City taxi, and are excited to see how emerging technology can improve that process. Our taxis have always been on the cutting edge of technological innovation, from GPS systems to credit card readers."

    Jon Fingas
    10.16.2012
  • Google, PayPal, VeriFone and US carriers band together to form Mobile Payments Committee

    There's little doubt that mobile payments hold a ton of potential for the future of commerce, but without proper direction (and willingness for adoption), the technology remains little more than an impractical curiosity for the majority of consumers. In an effort to define a way forward for the mobile payment industry, a large number of heavy hitters have banded together under the umbrella of the Electronic Transactions Association to form the Mobile Payments Committee. Not only does the group include all four of the top US carriers, but also Google, Isis, VeriFone and PayPal. Add to that financial institutions such as Wells Fargo and Capital One, along with American Express, Discover, MasterCard and Visa, and you'll quickly realize that this group is playing to win. Primary goals of the Mobile Payments Committee include fostering relationships with merchants, ensuring consumer access to modern payment methods, exploring best practices and ensuring interoperability of networks, equipment and financial institutions. The group will also engage in lobbying activities with legislators and regulators, and will additionally work to educate both merchants and consumers about the potential of mobile payments. With so many key players (and competitors) sitting around one big table, what wouldn't you give to be a fly on the wall during those meetings? For a little extra insight, just hop the break for the full PR.

    Zachary Lutz
    08.09.2012
  • VeriFone outs Sail mobile payment system, gives Square the evil eye

    VeriFone has decided that calling out claimed security holes and focusing on enterprise-level payment options aren't enough to take on Square. Sail goes more directly for Square's jugular, using its own plug-in dongle to handle major credit card payments in your local coffee shop or a mid-sized outlet. The VeriFone party trick comes through having multiple payment options, where shopkeeps can either choose to pay a flat 2.7 percent cut of every sale, or shell out a $10 monthly fee to lower the transactional take to 1.95 percent. Programming interfaces will let you hook in deals from social networks, too. And as you might expect, the company is still keen to tie Sail to its traditional payment systems, opening the door to NFC readers as well as other payment hardware that isn't quite as mobile. Stores with iPhones will be the only ones using the free Sail mobile apps and readers at first, but Android- and iPad-toting entrepreneurs will have their alternative to Square or PayPal Here as soon as the end of May.

    Jon Fingas
    05.08.2012
  • Isis partners with VeriFone, Ingenico, ViVOtech and Equinox, prepares to take over the world

    So, you've got the carriers on board, and the banks and even the handset makers. Problem is, without compatible registers and point of sale terminals, your mobile payment tech is worthless. Thankfully Isis, the NFC wallet system that aims to crush Google's buzzed-about platform, just scored a host of partners including VeriFone and Equinox that make a pretty large chunk of world's payment terminals. Those companies, along with Ingenico and ViVOtech have agreed to support Isis on future hardware and, in some cases, update the software on machines in the field to communicate with the app. For a few more details hit up the PR after the break and prepare for the Isis invasion to kick off sometime towards the middle of the year.

  • VeriFone's new Payware Mobile Enterprise for Tablets looks a little Square

    VeriFone added a new wrinkle to its ongoing battle for mobile payment supremacy yesterday, with the announcement of Payware Mobile Enterprise for Tablets -- a peripheral that will allow retailers to process transactions directly from any slate. Much like the company's Payware Mobile system, VeriFone's latest product involves a magnetic card reader and accompanying app that can turn any iPad or Android tablet into a handheld checkout unit. Geared toward larger enterprises, the new device also supports PIN verification for debit cards and NFC payments, rendering it compatible with Google Wallet, though it likely won't see a widespread release until 2012. Perhaps more intriguing is what this move could mean for the company's notoriously heated rivalry with Square. By explicitly targeting bigger retailers, VeriFone seems to be distinguishing itself from the small business-focused Square, despite the fact that its new product looks a lot like one of Jack Dorsey's creations -- or, as some CEOs would call them, "skimming devices."

    Amar Toor
    06.30.2011
  • Square to add encryption to mobile card reader, skimmers put on notice

    It's only been a couple days since we first heard about Visa's involvement with Square, but the credit card giant is already making its mark on the mobile payment startup. At the Visa Global Security Summit on Wednesday, Square Security Lead Sam Quigley revealed that the company will distribute an encrypted card reader this summer, which will work exclusively with its mobile payment app. The current reader theoretically scans credit card data to any app, but the encrypted version will only work with Square, which should alleviate VeriFone's concern that the company was essentially distributing "card skimmers" to anyone with a social security number. Luckily, the new encrypted reader will remain free, giving Square a colossal advantage over VeriFone's Payware Mobile product, which carries a $49 activation fee, in addition to standard merchant fees. Not to mention, it isn't available in white.

    Zach Honig
    04.29.2011
  • Square gets financial backing from Visa, asks to see some ID

    Everything's coming up Jack Dorsey these days. Last week Apple started stocking Square's iPhone credit card readers in its 235 US retail locations, and now, according to Reuters, Visa has put its plastic where its mouth is. The credit card giant has invested in the personal payments startup, scoring itself a spot on Square's advisory board in the process. No word on how much Visa is actually dropping on the company, but one thing stands to reason: it probably didn't make the deposit via Verifone. If you would like to invest in a Square reader, it'll cost you a lot less -- the company is still offering smartphone plug-ins for free on its site.

    Brian Heater
    04.27.2011
  • WSJ: Google teams with MasterCard and Citigroup for NFC payments, also files patent app

    Ever since the Nexus S and its nifty little NFC chip hit the market, there's been speculation that El Goog was planning a foray into the mobile payment arena currently occupied by the likes of Charge Anywhere. Now, it looks like that plan may be in high gear, as the Wall Street Journal reports that Google's secretly partnered with MasterCard and Citigroup to test out just such a system. According to the publication, the early demo pairs "one current model and many coming models of Android phones" with existing Citigroup-sponsored credit and debit cards, and is using the phones' NFC chips with those VeriFone readers we recently heard about. What's more, a newly-published patent application from the crew in Mountain View may hint at the software behind such things. The application describes a service that sets up Google as a third-party broker who receives the shopping cart info of customers placing orders via a device (including those of the mobile variety), allows them to select shipping and other options, and provides the total order cost. It then collects payment, coordinates shipment, and forwards order information to the seller to complete the transaction. So companies can have Google handle all their payment-taking needs in return for getting a sneak peek at what folks are buying -- something that the WSJ's sources say might be a component of the setup Google's testing right now -- as opposed to other third-party services, like Paypal, that only obtain and exchange payment info with merchants. Looks like Alma Whitten (Google's Director of Privacy) has her work cut out assuaging the concerns such a system will inevitably create in an increasingly privacy-minded populace. Sean Hollister contributed to this report.

    Michael Gorman
    03.27.2011
  • Google said to be preparing NFC checkout trials for San Francisco and New York City

    Google does not sell hardware, Eric Schmidt told us as much, but the company has few qualms about buying the stuff up. Bloomberg is reporting, on the authority of a pair of well informed sources, that the Mountain View team is about to buy up "thousands" of VeriFone's NFC payment terminals, with a view to installing them in stores across San Francisco and New York City. Those two technophile cities represent the most receptive audience NFC is likely to get in the US, and Google will be hoping that users there will be able to appreciate the convenience of being able to swipe their Nexus S (or other similarly equipped handset) to complete payments. We already know that Schmidt and co. consider the concept of "mobile money" a priority and there have been rumblings of Google setting up its own payment system, which together make this hookup with VeriFone appear highly credible. Bloomberg expects the trials to commence within the next four months, just in time to make iPhone 5 users green with envy.

    Vlad Savov
    03.15.2011
  • VeriFone's FUD meets Square's QED

    Yesterday, VeriFone (a $4.2b company) launched a harsh public attack on upstart rival Square (a less-than-fifty-people, $37.5m in funding startup). You may remember Square from previous coverage on TUAW or its impressive advertising last year. So what's going on, exactly? The basic gist of the Square service is simple. It sends you a free little reader doohicky that you plug into your iPhone or iPod touch's headphone/mic port, and you get an accompanying app for free from the App Store. When you want to charge money from someone's card, you swipe it, enter the amount, and they sign for the payment on your screen. Square takes a transaction fee of a flat 2.75 percent for a swiped transaction (a little more if you manually key the card details in), but there are no other fees of any kind -- not on the hardware, nor is there a monthly service fee. There are also no credit checks or complicated paperwork to sign up for Square in the first place.

    Richard Gaywood
    03.10.2011
  • Square's Jack Dorsey calls VeriFone's vulnerability claims 'not fair or accurate'

    We had a feeling that Square wouldn't let VeriFone call it out without issuing some sort of statement, and CEO Jack Dorsey has responded to the claims of a gaping security hole in the form of an open letter on the company's website. Dorsey calls its competitor's accusations "not fair or accurate" and says that many of the necessary security measures are already built-in to your credit card itself. He also points out that this sort of credit card number thievery is possible every time you hand your plastic over to a waiter or salesperson, and that its partner bank, JPMorgan Chase, stands behinds all aspects of the service. To us, it seems like Verifone is more than a little scared at the prospect of Square undercutting its fees and potentially upending the POS business -- but we're just theorizing. One thing is for sure though, we'll be hearing a lot more about this as the mobile payment war heats up in the future.

    Jacob Schulman
    03.10.2011
  • VeriFone calls out Square for 'gaping security hole,' publishes sample app to demonstrate

    VeriFone, a huge provider of credit card processing systems that's been around since time immemorial, has taken a huge swipe at upstart Square today, branding its free, headphone jack-based credit card readers "skimming devices" and demanding their immediate removal from the market. Crazy, right? VeriFone's CEO has thrown up a YouTube video talking about the exploit its thrown together, and it's more of a social engineering hack than a technical one: a bad guy makes a fake Square app for his phone, plugs in the reader, and steals your unencrypted credit card details without running a "real" payment through Square's system. They're really going big with this, too -- not only is VeriFone's sample app available for download, but they've sent notices to Visa, MasterCard, American Express, and JP Morgan Chase, which handles Square's processing. Sounds like a possible problem, sure -- but when the "exploit" is being announced in such grand fashion by a company that's most threatened by Square's business model, you can't help but feel a little icky about it. Follow the break for video.

    Chris Ziegler
    03.09.2011
  • VeriFone puts money near mouth, says it'll include NFC in all new POS terminals

    Well, here's a bold step forward for NFC -- payment solution provider Verifone says its new batch of point-of-sale terminals will come standard with the touch-to-pay wireless technology. That's the word from Near Field Communications World, who quizzed the company just a few days after CEO Douglas Bergeron called on the payments industry to foot the NFC bill, saying "The retail point of sale represents a point of convergence for smartphone-initiated payments, social networking and electronic couponing, but it won't happen if retailers are expected, on faith, to absorb the costs of making it work." Sounds like a company that's very keen on letting us pay by swiping our phone. Unfortunately, he didn't say when such technology might roll out.

    Sean Hollister
    03.07.2011
  • VeriFone Payware Mobile iPhone now available in Apple retail outlets, your CC weeps

    It's a little past January, but it's not like you've had too much trouble burning through your credit limit these past few months anyway, right? VeriFone -- that company responsible for the other iPhone credit card accessory -- has just announced that its slip-up case is now available in Apple retail stores. For those unaware, this card reader works on all iPhone 3G and 3GS handsets, and there's a built-in stylus for capturing signatures from those arguably shady street-corner transactions that you'll be engaging in. Best of all, the device and app are totally free assuming you agree to a 2-year service contract and a $49 "activation fee," but we'd caution you to read through the fine print under "merchant fees" before tossing away too much of that profit margin.

    Darren Murph
    04.21.2010
  • VeriFone credit card reader gets deal to be in Apple Stores

    The Square credit card reader for the iPhone has gotten most of the buzz around here, especially after we saw that impressive demo at Macworld a few weeks ago. But VeriFone's competing reader has been given the green light by Apple itself: the unit has been granted a deal for shelf space. VeriFone will be selling its PAYware Mobile units inside Apple's retail stores coming up as soon as the end of March. I'm not quite sure what the reasoning is behind this one on Apple's side, as the PAYware service seems to be a little more clunky than the Square solution: you have to pay both an activation fee and a monthly fee on top of the per-payment charge that Square asks for, and the reader itself is much bigger, taking up the iPhone's dock rather than just using the headphone port like Square's. Whatever Apple saw in them, you'll be able to get VeriFone's system right along with an iPhone or iPod touch all at the same time.. No matter which system eventually prevails (if indeed anyone needs to prevail at all -- there's certainly more than one credit card company, so there's no reason why there couldn't be more than one payment system on the iPhone), this does seems like a model that will change a lot of business transactions in all sorts of industries. It'll be interesting to see how the curve takes off once these things are up and running.

    Mike Schramm
    03.05.2010