and iPhone software.(Credit: VeriFone)
The mobile payments race found an interesting twist today with an announcement from VeriFone and PayPal.
VeriFone, business-oriented electronic payments company, unveiled a partnership, the eBay-owned PayPal's merchant services VeriFone's PayWare Mobile iPhone application brings.
PayWare which is aimed at small business consists of a hardware add-on and additional iPhone application to turn a mobile phone readers into a credit card.With the new PayPal partnership PayWare will accommodate, PayPal payments, as well as traditional credit card transactions and PayPal is PayWare market, your user base of entrepreneurs and eBay sellers. Moreover, PayWare are now able to handle "bump" transactions between two mobile devices processed by tapping on two compatible phones.
The "bump" technology can be familiar already for iPhone and Android users.It is licensed by Bump technologies, a the app makes swaps contact information of "bumping" mobile phones.It is already available on PayPal's iPhone app.
The mobile payments space to an interesting story watching, because startups have won an early advantage, was at least in the eyes of the entrepreneur and venture capital set.Square, a co-founder of Twitter Chairman Jack Dorsey and Venmo more consumer-focused pay-by-text message of start-up, hardware and app combo generate loads of industry buzz.
Have the case of large industry have made players like VeriFone startups to many hidden fees and entry barriers; the counter argument from a company like VeriFone is that it cause existing security infrastructure, a large market and a proven ability to skalieren.Dann is the fact that if it a trusted name in the industry rather than a start-up to something like security-intensive as e-commerce and mobile payments, average small business more likely (even one with the best of Silicon Valley marquee investors) to trust.
VeriFone's decision, a partnership with PayPal is PayWare's technological capabilities expand, probably a strategic move to make the VeriFone that look like a more flexible, technologically forward player in the room.
In the meantime, Square-moves-which is aimed at small businesses and consumers--made recently in the mainstream and management skepticism about scalability and potential for fraud brechen.Die company rented PayPal veteran and angel investor Keith Rabois as general manager in August, in the hope that he start-up expertise brings, to combat such fear.
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