SAIL, much like Square, uses a card reader and has an app for Apple and Android phones and tablets. SAIL charges a 2.7% per transaction fee for Visa, MasterCard and Discover cards, and a 3.7% fee for American Express. But you can knock that transaction fee to 1.95% by signing up for a $10 monthly subscription plan.
Fear of Commitment With Innovation: The subscription option could be off-putting to some, and if you do the math, you'd have to spend more than $1,333 a month through the service to break even with the 0.75% discount. But the open platform, which allows app-creating gurus to build iterations tailored to their needs, may be silver bullet VeriFone (PAY) needs to survive amidst stiff competition.