Verifone Calls Quits on SAIL
Big-time card processing hardware manufacturer Verifone is calling quits on its mobile payment processing service, SAIL after just over 6-months of service. I guess they just didn't have it in them to compete with Square. But why did they go up against Square? Given their existing business model, they should have did what they do best, B2B. They should have sold SAIL as a alternative to the traditional credit card terminal machines and counted on the thousands of merchant account providers to do their selling for them. Sure, the revenue may not have been as attractive but at least the profits would be better and the customer acquisition costs would be much lower. Instead, the products now defunct. I had high hopes for SAIL, the reader looked cool and the UI looked better than most of the competitors out there, it's a shame.










