Square, PayPal, and Intuit GoPayment have a new competitor complete with some pretty interesting SDK, deep pockets and strong marketing with VeriFone’s new MPOS mobile payment platform called “Sail” that will launch at CTIA on Tuesday.
I’ve taken a close look at the new Verifone Sail program, and my only complaint so far is that Verifone is trying way too hard to make their website look like Square – right down to the fonts, navigation, and style guide used by Square.
Nevertheless, here’s a link to the new Verifone Sail program: https://www.sailpay.com/
Just like Square and Intuit’s GoPayment, the Verifone app enables users to process Visa, MasterCard, American Express, and Discover Card transactions using smart phones and tablets. Merchant will pay similar fees, a 2.7 percent fee for each swiped transaction. An optional $9.95-per-month subscription fee mimics GoPayment and lowers the discounted transaction fee to 1.95 percent.
A relaxed credit underwriting criteria will send heartburn to legions of ISOs already struggling to compete with Square for start-ups and small business owners. We’ve been told Verifone is running a “soft” credit inquiry that promises not to affect an individual’s credit score.
Verifone is also promising it will be pulling the gloves off with some interesting extras to help small and large merchants deliver more robust loyalty and usage programs. For example, VeriFone clients will be able to integrate SAIL into their current POS systems, enabling acceptance of NFC services such as the emerging Google Wallet scheme. Verifone SAIL is also capable of reading barcodes, redeeming coupons and fulfill custom offers.
A new SDK will link Verifone Sail with third-party consumer opt-in marketing campaigns, CRM tools, customer loyalty programs, and social media platforms (including Facebook, Twitter, and Yelp). For example, merchants will be able to email interactive sales receipt to the customer that enables customer reviews on Yelp, or “likes” to the merchant’s Facebook page.
A built-in CRM enables customers to opt-in their email address to receive the merchant’s special offers, invitations to sales and events, to enroll in loyalty programs, and more.