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VeriFone picks Chase Paymentech to distribute PAYware

Tuesday, April 6, 2010

VeriFone has selected Chase Paymentech as the preferred provider of new merchant accounts for buyers of VeriFone’s PAYware Mobile iPhone card payment solution.

The solution, which attaches to an iPhone to accept payment via credit card, will be sold through Apple Retail Stores and the Apple Store online beginning April 6.

VeriFone CEO Douglas G. Bergeron said that Chase Paymentech, a subsidiary of JPMorgan Chase, will be instrumental in making it as easy as possible for merchants to get their hands on the PAYware solution.

Douglas also explained that solution is designed to make accepting payment via credit card or check affordable for small businesses.

VeriFone’s encrypted card reader slips over an iPhone to accommodate card swipes and allow merchants to avoid high-cost card-not-present fees. It also features a stylus for signature capture and a mini-USB port for charging the iPhone. [end] 

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