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TheStreet Open House

VeriFone Announces Expansion Of SAIL Platform To International Markets

Stock quotes in this article: PAY

VeriFone Systems, Inc. (NYSE: PAY), today announced an international expansion of the SAIL mobile payments platform with an agreement with Israel’s largest card issuer and acquirer, Isracard Ltd., to distribute SAIL encrypted card readers for iOS and Android devices and to bring smartphone based mobile payments to merchants in Israel.

Isracard will market a customized SAIL solution to a market targeting tens of thousands of small businesses that currently do not accept credit cards, including its own credit card holders. With over 45% market share, Isracard will offer the solution to its own credit cards holders, SOHO merchants and individual professionals in Israel.

“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, VP Commerce Development & Sales, Isracard.

VeriFone's unique mobile payments solution allows for rapid expansion and adoption through international partners. The open and flexible nature of SAIL makes the solution uniquely compatible with mobile devices, such as tablets and smartphones.

“This is a step in the international deployment of the SAIL Platform,” said Bulent Ozayaz, VeriFone senior vice president, Southeast Europe & Russia. “As the leading issuer and acquirer in Israel, Isracard is the natural partner to deliver the benefits of SAIL mobile payments to business owners and merchants who can now take advantage of an easy and secure way to accept payments wherever business takes them.”

Isracard customers using iOS or Android devices will receive a free mobile app and card reader that securely encrypts card data with each transaction. Unlike other mobile payments offerings, SAIL is an open platform that enables VeriFone partners to build their own payment or marketing solutions on top of VeriFone’s secure infrastructure.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for VeriFone Systems, Inc.

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