Thanks to a new iPhone
app from VeriFone,
small businesses will be able to securely process credit card transactions using
the popular smartphone. The new PAYware Mobile solution targets small businesses
that need a mobile way to accept credit cards such as home repair businesses,
small cafes, or door-to-door sales.
PAYware Mobile is a combination hardware and software
solution that includes a PA-DSS approved payment app and a card reader that
slips over the iPhone to accommodate card swipes and help merchants avoid
card-not-present fees. The PAYware Mobile card reader uses a secure magnetic
stripe read-head and firmware certified to the Federal Information Processing
Standard FIPS 140-2.
For security, card details are encrypted during the card
swipe process so that no sensitive data reaches the payment app. This
eliminates the possibility of data being compromised on the iPhone as well as
the potential for compromise during transmission over Wi-Fi or cellular
“Banks and processors are concerned about the security
issues of unapproved merchants using unregulated software and insecure fobs to
accept card payments,” said VeriFone CEO Douglas G. Bergeron. “PAYware Mobile
leverages VeriFone’s proven payment and security expertise to provide the
ultimate in end-to-end protection against payment fraud and misuse on an open
and unregulated platform such as the iPhone.”
Transactions from PAYware Mobile will be managed through
VeriFone’s PAYware Mobile secure gateway and routed to a credit card processor
for authorization and settlement. VeriFone expects to make PAYware Mobile
available to most processors.
PAYware Mobile will begin shipping January 15. It will be
available for free to those who sign up for a PAYware Mobile secure gateway
service agreement. The solution will be available through existing bank
acquirer and ISO channels as well as from VeriFone. Someday, VeriFone hopes to
make PAYware Mobile available wherever mobile phone accessories are sold.
Merchants can view service options and fees at www.paywaremobile.com
. An EMV version
for international payments is expected in the spring.