VeriFone shifts on payments technology


VeriFone ranks as a top competitor to Square, which has made huge splash with its dongle and digital wallet application, prompting a raft of competitors to jump into the market. VeriFone intended to compete directly with its Sail technology, but it has apparently given up. It says the economics of acquiring merchants just was too punishing. It now says it wants to sell the service not to merchants but to banks, so they can offer the technology to their customers. Article