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VeriFone Selects Chase Paymentech as Provider for PAYware Mobile

SAN JOSE, Calif. -- VeriFone Holdings Inc. selected Chase Paymentech as the preferred provider of new merchant accounts for buyers of VeriFone's PAYware Mobile iPhone card payment solution sold through Apple Retail Stores and the Apple Store online beginning April 6, the company reported.

Chase Paymentech, a subsidiary of JPMorgan Chase, is a global leader in payment processing and merchant acquiring and an ideal partner in providing merchant processing services to small businesses who purchase the PAYware Mobile card encryption sleeve for iPhones.

"Chase Paymentech will be instrumental in achieving our goal of making it as easy as possible for merchants to acquire PAYware Mobile for iPhone so they can meet their customers' demands for a card payment option," said VeriFone CEO Douglas G. Bergeron in a released statement "No longer will these small businesses lose sales because of an inability to accept payment by credit card or 'check' card."

VeriFone's durable card reader slips over iPhone to accommodate card swipes and allow merchants to avoid high-cost "card-not-present" fees, the company stated. It also incorporates a stylus for signature capture and a mini-USB port for charging iPhone while the ergonomic reader is attached.

The PAYware Mobile card encryption sleeve incorporates VeriFone's end-to-end encryption technology and ensures secure payment processing. Users also gain access to the PAYware Connect gateway, a fully customizable gateway service.

Details of all iPhone payment transactions are available in real-time within the Merchant Portal on the payment gateway, which also enables businesses to consolidate payment reporting from multiple PAYware Mobile-equipped iPhones, the company reported.

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