Verifone cries uncle – fails to impress market with Square-buster

VeriFone is killing Sail, its attempt to knock-off competitor Square. Sail didn’t last long, as it launched less than six months ago in May. VeriFone CEO Doug Bergeron announced the closure of its dongle-based mobile point-of-sale system during its Q4 earnings call earlier this week.

VeriFone will limit participation in the space created by Square by offering third-party partner customer support, swiper hardware, and payment gateway access. It will discontinue all efforts to acquire customers for the service, risk management and customer billing in the U.S. The company said it may explore global markets supporting EMV (chip and pin) cards.