Verifone (PAY), whose payment-processing hardware sales are threatened by Square's emergence, is...

|By:, SA News Editor

Verifone (PAY), whose payment-processing hardware sales are threatened by Square's emergence, is set to introduce a mobile credit-card reader of its own. Called SAIL, the solution will normally charge a 2.7% fee (slightly below Square's 2.75%), but a 1.95% rate will be offered to high-volume customers. Verifone benefits from having millions of customers to cross-sell to, though Square's rapid growth and seamless end-to-end solutions will make it tough to challenge. (also)