Post a new topic
    19 Replies Latest reply on Oct 30, 2011 6:02 PM by popeye123

    Mobile Payment Wars--Verifone vs Square

    amspcs Ranger

      Mobile payment processing is hot these days.  The stakes are heating up, and  the competitors are playing hardball.


      Verfione and Square represent the 'king of the hlil' and the 'new guy on the  block' among mobile payment players.   And Verifone has called Square out on  alleged security shortcomings, which should be very important to merchants and  consumers alike.


      Here's a link you may find very interesting:

        • Re: Mobile Payment Wars--Verifone vs Square
          JackieGold Scout

          I am rooting for Square!! My customers use it and love it.

            • Re: Mobile Payment Wars--Verifone vs Square
              amspcs Ranger

              Well, Jackie--lots of folks use and love LOTS of things that are dangerous and not good for us.  The fact remains, and has been pretty convincingly documented as I see it, that security deficiencys of Square exposes users to fraudsters.  Here's a very interesting article distributed just this week about how easy it is for even the most non-technically inclined can easily write simple programs to generate cc fraud with Square, which is a must read for anybody remotely considering marketing or using the Square device:

                • Re: Mobile Payment Wars--Verifone vs Square

                  For some reason, your link didn't appear, amspcs. Security issues are obviously of very high importance which is why I make it a point to stay abreast of as much information as I can regarding security on social networking sites, apps and websites. I have already received more of those little "Your personal information might have been disclosed recently" letters from CC companies and vendors I do business with than I would ever liked to have receive and it doesn't give me a warm fuzzy. I'd be interested in seeing the article you had intended to link to amspcs!




                  As for taking mobile phone payments, I'm not sure I quite ready to jump into that for our business just yet though I am sure that it would be a convenient benefit (so long as I wasn't putting our customers at risk in the process). But I do know it is becoming popular on the touring circuit. I recently went to see Crystal Bowersox in concert and afterwards her opening act was selling CDs in the lobby. They used a mobile payment device on an iPad or similar tablet and they gave me the option of having the receipt sent via text to my cell or to my email. I thought it was pretty nifty and because he could take my CC, I bought both of his CD's! Unfortunately, Crystal's dad didn't have a way of taking CC's so they lost out on at least one purchase since I didn't take enough cash with me. I guess everything has its pros and cons.




                    • Re: Mobile Payment Wars--Verifone vs Square
                      amspcs Ranger

                      Moni--I THOUGHT I included the link in the post, but evidentally it didn't take.  I notice there was some sort of fancy-shmancy dialog box that popped up when

                      I tried to enter the link which I tried to navigate,but obviously didn't.  Could  you kindly give me some tips on how to negotiate this.  Meanwhile, I'll try to re-enter

                      the link in another post below, don't know if I'll botch it or not.


                      Re  your mobile processing inhibitiions.  I absolutely hear you, and share your concerns.  It all comes down to encryption--how well the data is secured if at all, which is the gist

                      of the difference between Verifone and Square.  Just one more reason to stick with name brands you know and trust and shy away from brand x wannabees.  Yes, mobile processing

                      is a very enticing target for thieves.  But consider this:  You are taking a far worse chance with  your cc security when you visit your local restaurant, hand the card to the waiter, who disappears

                      with it for several moments before bring back the card and your pre-tip receipt.   You don't wanna know what they're doing with your credit card when it's out of  your sight.   Now THIS is the area, believe it or not,

                      where far far FAR more fraud damage than  s via mobile processing occurs.


                      Moral of story:  Technology is here to stay.   If crooks want to rip you off they're going to find a way, no matter what you do.  The best  you can do is not make it easy for them and take advantage of

                      every security means at your disposal.  That's where utilizing trustworthy equipment and software instead of brand X comes in.   If mobile processing would be of benefit to your business, but fear and intimidation

                      prevents you from taking advantage of  it, then the bad guys have won. 


                      Enough of my soap box.  Appreicate your helpful comments. 

                      • Re: Mobile Payment Wars--Verifone vs Square
                        amspcs Ranger

                        OK, gonna take one more shot at figuring out hot to publish  the link from original post above.  Here goes, wish me luck:


                  • Re: Mobile Payment Wars--Verifone vs Square
                    Moderator Jim Ranger

                    How soon will these payment options be offered outside of major cities?



                    • Re: Mobile Payment Wars--Verifone vs Square
                      CorpCons08 Ranger

                      Interesting article. I have been asked by a number of people whether or not I would try this, and I have always been a bit ify on it.

                      Now that I am reading about the vulnerabilities more, I am even more ify. lol





                      • Re: Mobile Payment Wars--Verifone vs Square
                        Quindar Newbie

                        I also do some merchant service business.  I was really surprised at how many choices there are out there for consumers.  Lots of competition.  I am also pretty impressed with all that is available for mobile businesses or purchases.  I probably wouldn't go with Square either right now.  There are many companies to choose from.....take a look at everything, from swipe rates to security and company service and support.

                        • Re: Mobile Payment Wars--Verifone vs Square
                          popeye123 Wayfarer

                          This is an interesting article because it re-affirms my paranoid suspicions about credit card security.  I have been a victim of credit card fraud once, and after bitten once you get shy.