VeriFone Extends Mobile Payment Acceptance with PayPal
SAN FRANCISCO -- VeriFone Systems Inc. will expand PayPal payment acceptance in the mobile environment and further integrate the worlds of online and traditional card-based payments -- integrating PayPal payment with VeriFone's PAYware Mobile card encryption sleeve for iPhone, the company reported.
"Rapid adoption of mobile payments makes it possible to further align PayPal payments with traditional card-based transactions at the physical point of sale," Jeff Dumbrell, VeriFone executive vice president said in a released statement.
Additionally, PayPal's merchant acceptance application will be enhanced to support traditional card-based payments using VeriFone's PAYware Mobile card encryption, and the PAYware Mobile App will be enhanced to support PayPal Bump technology that enables iPhone users to bump their phones together to transfer money between them.
VeriFone will promote PayPal and Bump acceptance to its vast reseller channel and PayPal will market VeriFone's PAYware Mobile to its user base, the companies reported.
The integrated capabilities are expected to be available next year.