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Merchant processor Cayan on Monday unveiled a new point-of-sale system for small and mid-sized businesses that want high-tech capabilities without the costs and hassles of managing integrated POS systems like those used by national retailers. Global POS terminal maker VeriFone Systems Inc., meanwhile, announced the integration of its Verifone Point Classic service with Revel Systems Inc.’s iPad-based POS system.
Boston-based Cayan said its new Genius STX point-of-sale product gives smaller merchants sophisticated technology but is non-integrated, in other words, it doesn’t combine payment management with non-business functions the way POS systems at most large retailers do. Genius STX includes a cashier-facing Verifone VX 520 terminal along with a customer-facing Genius Customer Engagement Device (CED) from Cayan. The system, which will be available to independent sales organizations that provide provide POS services merchants, accepts EMV chip cards, magnetic-stripe cards, mobile-payment systems such as Apple Pay and Android Pay, and gift cards.
“Direct and agent sales representatives often work with small to mid-size merchantsthat are not yet ready to make the leap to an integrated POS system and prefer the simplicity and familiarity of terminal-based payment solutions,” Cayan vice president of product management Marc Castrechini tells Digital Transactions News by email. “The Genius STX offering delivers a terminal-oriented, all-in-one-payment solution while also providing the sophisticated customer experience of big-brand retailers through Cayan’s Genius platform. Through the Genius CED, smaller merchants will also have the ability to promote their brand or offers at the point of purchase with custom welcome-screen advertising.”
Merchants that start with STX can easily upgrade to integrated POS products certified for the Genius platform, Cayan said.
Meanwhile, San Jose, Calif.-based VeriFone said Revel’s integration with the Verifone Point Classic software-based service gives Revel’s merchants the choice of having their payment systems managed by VeriFone. The tasks Point Classic system can manage for Revel merchants include EMV acceptance, compliance with the Payment Card Industry data-security standard (PCI), and other payment-related operations.
The Verifone system de-couples sensitive payment data from the electronic cash register, reducing a Revel merchant’s PCI compliance burden, and uses end-to-end data encryption and tokenization. The system also connects merchants to mobile wallets and loyalty programs.
“Revel is a platform designed to offer clients a seamless customer experience, and having a payment component that will simplify our clients’ lives is important to us,” Lisa Falzone, co-founder and chief executive of San Francisco-based Revel, said in a statement.
VeriFone said it continually updates its software through its host system, so Revel clients won’t need to update or re-certify their POS software with processors themselves.
“Managing payments can easily overwhelm merchants, ISVs [independent software vendors] and resellers,” Shan Ethridge, vice president and general manager of VeriFone’s North America Financial Services Group, said in a statement. “Now, Revel can focus on building additional features for its clients and further enhancing its iPad Point of Sale solution, while VeriFone takes care of the heavy lifting in the payments area.”
About 20,000 merchants had installed Revel iPads as of late last year, and cinnamon-roll retailer Cinnabon said in November it would install EMV and Apple Pay-accepting Revel POS systems in 250 mall locations by year’s end.
