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Verifone – Paywaremobile

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Verifone – Paywaremobile

December 10, 2009-12-10

 Super move by Verifone, a “serious” device for merchants. As an investor, be glad you skipped on the SquareUp opportunity. Advantages of the Verifone’s device:

Down side

  • Merchants must sign a merchant agreement with an acquirer
  • Costs associated with merchant agreement (below)
  • Paywaremobile could add chip and pin functionality… There is life outside of the US

Summary, for small merchants that don’t want to sign a merchant agreement there are payment solutions out there today (paypal). If you want to accept a card directly, you’d be best served by going through an acquirer and using a certified device like paywaremobile… as your risks are not inconsequential in accepting cards through without a merchant agreement in an uncertified device.

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Written by tomnoyes

December 10, 2009 at 3:08 pm

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