VeriFone has sold its MPOS business SAIL according to a notice that quietly appeared on the SAIL website saying VeriFone “will soon begin the process of transferring our direct sales business to new ownership,” Mobile Payments Today reported. No information on who the buyer is or the terms of the sale are available at this time.
SAIL merchants also received an email from VeriFone Vice President David Talach last week informing them of the sale and that it would be completed on Jan. 31, Mobile Payments Today added. Merchants were notified that, due to the transaction, VeriFone will cease offering the SAIL service as of March 1. <BR><BR>
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In mid-December, VeriFone CEO Doug Bergeron said in the company’s Q4 earnings call yesterday that VeriFone will be jumping off the mobile payments bandwagon. VeriFone launched SAIL in May, taking Square head on in the mobile payment space. VeriFone does roughly double the annual payment processing of Square, with about $10 billion in annualized transaction volume each year. SAIL was designed to target the slightly larger entities among small and medium businesses.
SAIL merchants also received an email from VeriFone Vice President David Talach last week informing them of the sale and that it would be completed on Jan. 31, Mobile Payments Today added. Merchants were notified that, due to the transaction, VeriFone will cease offering the SAIL service as of March 1.
In mid-December, VeriFone CEO Doug Bergeron said in the company’s Q4 earnings call yesterday that VeriFone will be jumping off the mobile payments bandwagon. VeriFone launched SAIL in May, taking Square head on in the mobile payment space. VeriFone does roughly double the annual payment processing of Square, with about $10 billion in annualized transaction volume each year. SAIL was designed to target the slightly larger entities among small and medium businesses.
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