The accessory will rival Square’s similar product and could help boost the payment solutions company’s sales volume at large retailers.
Payment solutions company VeriFone is due to unveil an accessory for tablet computers that will enable them to accept payments from credit and debit cards. PayWare Mobile Enterprise will effectively turn any iPad or Galaxy into a mobile checkout. With more than 50% of large retail stores moving away from traditional cash registers and planning to use tablets in the next 12 months, this product could provide a big boost for VeriFone. The market for tablet card readers and software in the U.S. is worth a potential $100 million and VeriFone is hoping to fend off the start-up Square for a big chunk of that market.