Bank technology

VeriFone Sends Sail Overseas

By Sean Sposito

Published October 15, 2012, 11:35 a.m. EDT

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Updated October 15, 2012, 10:35 a.m. EDT

1 Min Read

VeriFone (PAY) announced Monday that it's sending its Square-competing mobile payment platform, Sail, overseas as a part of a pact with Israeli card issuer and acquirer Isracard. The Israeli company will distribute Sail encrypted card readers for iOS and Android devices to merchants in Israel.

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VeriFone said Isracard will market the reader to "tens of thousands of small businesses that currently do not accept credit cards, including its own credit card holders."

"VeriFone has developed a complete open platform with Sail that provides us with easy enrollment and processing tools to deliver secure, comprehensive and easy to use mobile payments to individuals and merchants," said Ron Weksler, Isracard's vice president of commerce development & sales, in a press release.

VeriFone released Sail this spring in order to better compete with Silicon Valley start-up Square. The Sail reader comes with software that developers can tweak to adapt it to work with merchants' inventory software.

Sean Sposito is a freelance writer.

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