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PayPal, VeriFone let iPhone users bump phones to transfer money

In addition, PayPay’s merchant acceptance application will be enhanced to support payments using VeriFone’s mobile card encryption. In addition, VeriFone plans to roll out an application to support Bump acceptance.

“To expand the world of electronic payments by bridging the virtual and physical points of sale, VeriFone developed Payware Mobile for the iPhone to expand card acceptance to potentially millions of micro-merchants for whom a dedicated payment device is not an option,” said Pete Bartolik, spokesman for VeriFone, San Jose, CA.

“By providing an option for merchants to accept PayPal payments, it gives merchants and consumers one more payment option,” he said.

VeriFone is a worldwide provider of electronic payment services.

PayPal will market VeriFone’s Payware Mobile to its user base.

Money transfer
VeriFone plans to enhance its Payware Connect payment gateway service to provide merchants with integrated transaction reports for PayPal and traditional card payments.

“We extended the partnership because PayPal is the leader in alternative online payments on a global basis and we havs established channels with traditional merchants – so there’s natural synergy in the two working together,” Mr. Bartolik said.

“One example would be eBay sellers who not only do business online, but bring their wares to trade shows, flea marts, and other venues where some potential customers want to be able to pay with traditional credit cards,” he said. “If they get the Payware Mobile card encryption sleeve for iPhone, the eBay sellers can accept both card payments and PayPal payments.

“On the opposite side, a merchant who is using Payware Mobile for traditional card payment, will now be able to accept PayPal.”

Mobile capabilities
The integrated capabilities are expected to be available next year.

“VeriFone is licensing software from Bump Technologies to provide the same bump payment features in its Payware Mobile app that PayPal earlier integrated in its own iPhone app,” Mr. Bartolik said. “PayPal will be enhancing its iPhone app to work with VeriFone’s Payware Mobile card encryption sleeve.

“We’ve previously indicated that international and non-iPhone versions of Payware Mobile are on our roadmap, so that gives an idea of what’s coming down the pike,” he said. “We’re also continuing to explore other options to enhance mobile payments, such as the recent announcement with Bling Nation.”