The enhanced service is expected to feature NFC capabilities and EMV smart cards. Thus, the global PAYware Mobile offering is set to include a keypad for chip and PIN transactions, which is Payment Card Industry (PCI)-compliant. The VeriFone PAYware Mobile service is expected to enable small businesses worldwide to accept smart card, mag-stripe card and contactless-based payments.
The new version of the service is expected to be available in the UK and Canadian markets during Q1 201, with further releases across Europe, Latin America and Asia by the end of 2011.
In addition, VeriFone has entered an agreement with Turkish financial services provider Garanti Bank, in a bid to provide its contactless payment acceptance system in a nationwide integrated NFC-based SIM mobile payment program. Thus, VeriFone has supplied 10,000 NFC-enabled devices to Garanti for merchant use.
In recent news, VeriFone has entered an agreement with US payment management software and services for merchants ISD, under the terms of which ISD is expected to support the VeriShield Total Protect offering in its existing card data security suite.
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