7 Tips on How to Choose a POS System

Gina Obert | March 22, 2022 | 54 views

POS System
For any type or size of merchant, the point of sale (POS) is by definition a mission-critical system. In addition to being a basic tool for retail and companies to conduct business, today’s point of sale systems can also be profitably tied in with key operational solutions, such as inventory management, labor scheduling, and customer marketing.

Here’s How to Choose a POS System for Your Unique Business

Before we dive into how to choose a POS system, let’s look at why you need one in the first place.

A POS system does more than transactions. It's the beating heart of your store's operations, from inventory management and loss prevention to employee management, AR/AP tracking and more.

Small businesses of all types and across industries use POS systems:
  • Retail and consumer good stores
  • Liquor stores (within grocery stores and standalone wine & spirits stores
  • Tobacco stores and smoke shops
  • Grocery stores and markets
  • Convenience stores
  • Lawn & garden centers
  • Hardware stores

But different types of businesses have different POS system needs. POS systems’ importance makes selecting the one that’s right for your business a challenge.

Here are seven tips to help formulate the right questions to ask POS vendors as you narrow down your options.

Answer these 5 questions before you research POS systems


What features does your current POS system lack or do poorly?


This will help you prioritize your POS needs and ensure current pain points are addressed with your new POS system.

What type of POS hardware will you need?


From touchscreen monitors and cash drawers to receipt printers and pinpads, determining your POS hardware needs helps you know what to look for and get cost estimates from POS vendors.

What POS software, apps, and integrations will you need?


Your POS software is the brains of the operation. Be sure to identify specific functionality and app integrations needed.

What does your business growth plan look like?


This is an important one. You want a POS system that can scale with you as you grow. The last thing you need is to replace your POS system again because you've outgrown it.

What is your budget?


Every POS vendor you talk to will ask this question, so it's best to prepare for it. If you don't have a number in mind, you can use our Build & Price Tool to create your ideal POS system and see what it would cost.

Choose a POS system that makes checkout a breeze

Is your checkout process simple and easy for customers, or do you find that long lines and slow checkout speeds are holding you back?

You need to maximize the checkout space for an optimal customer experience. POS systems with a minimal footprint keep things simple for your employees, and can even allow you to have multiple registers to service customers.

The pace of transactions is a key factor as well. Employees must be able to quickly scan products or use smart, intuitive product lookup or keyed entries to minimize wait time. You can even use mobile devices connected to your POS system to augment your checkout capabilities.

Consider your inventory management needs

One of the biggest benefits of POS systems is their ability to automatically deduct sold items from inventory, making key measurements such as inventory on hand and item-by-item sales data far more accurate. However, if your business operates with a limited, relatively uncomplicated inventory – e.g. just a few hundred SKUs with little variation in size, style, or color – choosing a POS system with advanced inventory management capabilities will be a wasted investment.

Key questions to ask include:
  • How many items do you carry in each store?
  • Do you look at each item as a unique item or as a style?
  • How do you order inventory from suppliers if the item has varying colors/sizes? Do you need to see item attributes as a matrix?
  • Do other buyers/store personnel need to be able to fill in or look up on-hand information without visiting the store floor or calling other stores?
  • What merchandise information do you want to be able to view at your desktop?

Decide what additional functions you want your POS to provide

Even if your needs are currently fairly basic, that doesn’t mean they won’t expand as you grow. Consider additional capabilities you may want your system to provide in the future, such as:
  • Time and attendance/time clock
  • Sales reporting, broken down by associate, store, department, time of day, etc.
  • Customer marketing, allowing you to capture the customer’s purchase history and other data for future marketing, and customer loyalty programs.
  • Transfer systems, allowing associates to transfer merchandise between stores, and on-hand lookup, allowing each store to see at a glance what inventory other stores have on hand.
  • Gift cards, tracking gift cards sold and their redemption.

Identify the types of POS peripherals you will need

POS system hardware isn’t limited to the cashier’s touchscreen. Think about whether dual display screens, showing customers what they ordered to improve accuracy, or displaying ads to promote key items, are worth the investment. Compare thermal printers to ribbon printers: thermal printers use heat to print receipts so even though they cost more initially, retailers can save long-term on the ink cartridges required by ribbon printers.

Determine which POS security features your store needs

Security must be a key element of any POS system, from the basics (lockable cash drawers, cash drops, and password-protected access) to erecting firewalls around the POS system’s network to guard against malware attacks.

Retailers accepting payment cards must ensure their POS systems comply with the latest Payment Card Industry Data Security Standards (PCI DSS). Retailers doing a high volume of payment card business may want to consider using encryption, which protects customer data during transactions by creating a cryptographic key that denies access to anyone without the appropriate decrypting key.

Don't forget about POS reporting to help guide your business

We get it: reporting is not a "sexy" feature. But it is critically important. Sales reports, inventory and catalog reports, and customer history tracking are just a few of the key data points available in most POS systems to help you make smart business decisions.

When it comes to choosing a POS system, reporting cannot be overlooked.

Ready to Choose a POS System for Your Business?

Finding a POS system that meets your business’ current needs while also providing the tools for future growth can be challenging. Keep both short-term and long-term requirements in mind when evaluating different solutions.

You can find more must-ask questions and considerations to choose the right POS system in our Retail POS System Buyers' Guide. For example:
  • Local database vs. cloud: what type of software is right for your business?
  • What information do you need to choose a credit card processor?
  • The questions you need to ask to get past a POS system sales pitch


Spotlight

Tilled

Tilled empowers ISVs to monetize the payments flowing through their platforms. Through Modern APIs and SDKs, Tilled's turnkey system allows software companies to be set up and running in a matter of weeks, with no upfront costs or additional headcount required. Without any of the headaches, regulatory compliance, or liabilities of becoming a fully registered facilitator, Tilled makes it easy for any software company to take full advantage of the benefits of payment facilitation. Tilled was founded in 2019 by Caleb Avery and is currently based in Boulder, Colorado.

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POS System Essential for Omnichannel Retail

Article | October 13, 2021

“Software-led payments is more than just ecommerce or online invoicing, as many software platforms are starting to offer solutions for card present transactions.” - Caleb Avery, CEO of Tilled The omnichannel retail marketplace has been witnessing a surge in recent years. A buyer has a natural tendency to check the details of the products or services on the internet. But a single purchase may involve different channels like apps, websites, store walk-ins, etc. For example, a customer may conduct online research and purchase an item before picking it up from a retail store; or, conversely, he may go to a nearby mall and inspect the product first before purchasing it online. Therefore, retailing has become increasingly about providing multi-channel or cross-channel experiences to customers. If the merchant misses out on his goods being offered on any channel, it will harm the customer experience (CX). In such a circumstance, deploying a POS system built for multi-site store networks that takes care of the maintenance of the website and all the locations in the chain simultaneously is a blessing for the retail sector. The point of sale is now an important part of an eCommerce plan for a business and a key part of its ongoing marketing strategy. Drive Loyalty and Sales Using Your Omnichannel POS A retailer's point of sale is the hub of every business action, wherein sales, marketing, inventory, customer management and customer service merge. But what many still don't realize is its powerful role in unlocking customer loyalty and higher revenue. With a modern and adaptable point-of-sale system, lengthy transaction times are minimized and may be boosted while simultaneously processing more consumers, enhancing the customer experience. Your omnichannel POS should permit the configuration of several payment methods. Customers can choose various payment methods, such as credit cards, digital wallets, PayPal, and cash. POS data should be utilized in all company decisions in today's society. Additionally, POS data is essential for merchandise planning. For example, if a product is not selling quickly enough, sell-through and sales-by-margin analytics can influence your pricing decisions and allow you to adjust accordingly. A common misconception about POS is that it is only a point of contact between your clients and your business. However, when its tremendous capabilities are utilized, it becomes a tool that helps you understand your clients, enhance their experience, and guarantee you are prepared to meet their demands. Importance of Using POS and Ecommerce Integration Combining CRM and POS software enables staff members to review and update client information instantly. You can develop new sales methods based on customers' interests and previous purchases. The omnichannel point of sale integrates with Tally, Quickbooks, etc. You may export order receipts from all channels directly. With omnichannel POS, your firm is accessible to customers 24 hours a day. Customers can purchase at one store and receive delivery from another, as well as other choices designed to improve the shopping experience. A retail eCommerce platform with seamless integration benefits both businesses and customers. Bottom Line Innovation in omnichannel retailing and investment in the POS system's digitization helps track and fulfill online, and offline customer needs. It goes without saying that the future of POS and retail are closely intertwined. In the coming years, POS will see a radical shift. Now is the optimal time for laggards to catch up or risk falling behind.

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A pivot to customer and supporting the shopping journeys

Article | March 24, 2022

ABC Fine Wine & SpiritsOracle Retail Cross Talk is our favorite event of the year. Across the 2.5 days, we create authentic connections across our retail community so you can learn from each other. We recruit 25-30 global retailers to share their experiences in case studies, panel discussions, or fireside chats. We are thrilled to host a panel discussion with ABC Fine Wine & Spirits and Estee Lauder. Delivering a great omnichannel retail experience takes the right people, process, and technology to earn shopper loyalty by offering engaging and seamless experiences across more than 70 unique customer journeys. Widespread curbside pick-up, flexible store environments, buy online, pick-up in-store (BOPIS) protocols–these new norms have dramatically accelerated in-store adaptation and innovation. As brands dive deeper for new ways to maximize the customer experience—and adapt to the rapidly changing world—they must lean into agile technology. Join this discussion to hear how ABC Fine Wine & Spirits and Estee Lauder are tackling today’s challenges and planning for the future. Estee Lauder Platform Discussion: Stores and Omnichannel As customers continue to evolve the omnichannel retail journey, you can provide them with engaging, seamless experiences while refining operations across point-of-service, ecommerce, and order management systems. Join us at Cross Talk to learn how Oracle Retail’s omnichannel modern retail solutions bridge the productivity gaps between the online and traditional point-of-sale functionality, improve store associate effectiveness, increase sales, and ultimately personalize the customer experience.

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Digital Payments – Preferred Way To Exchange Money

Article | January 28, 2022

In the past several years, the evolution of the payments industry has been remarkable. The digital payment business is expanding fast and is an open area for competitors. Globally, the emergence and implementation of digital payment solutions results from diverse requirements. The digital payments ecosystem is being propelled by three significant factors: technology, customer demand, and regulations. Insights Into Digital Payments Evolution The Internet of Things, APIs, point of sale (POS), mobile wallets, and tokenization create a seamless payments ecosystem by digitally connecting every industry with the payments environment. Consumer demand drivers can be broken down into subcategories, such as real-time payments, a better user experience, and personalization. In 2021, the market for digital payments was estimated at USD 7.36 trillion. It is expected to reach USD 15.27 trillion by 2027, with a CAGR of 12.38% between 2022 and 2027. The technical improvements of smartphones, digital payment cards, and point-of-sale terminals in retail stores are driving the expansion of the industry. According to American Express, the COVID-19 pandemic significantly impacted cardholder spending. Companies are offering contactless payment options to attract customers. This has made the contactless function a global competitive advantage for companies. In light of the preceding progress and development, let's explore what 2022 has in store for you. Look closely at any changes to digital payment methods that could be important in 2022. The Most Prevalent Digital Payment Trends – 2022 Biometric Authentication In 2022, biometric authentication will increase as a trend in the digital payment industry. Biometric authentication utilizes a person's biological and anatomical traits. In addition to fingerprint scanners, face recognition, iris recognition, heartbeat analysis, and vein mapping, the verification process also incorporates fingerprint scanners. It is a very secure payment system based on the unique qualities of each individual. Additionally, it helps establish consumer loyalty and trust. Contactless Payments Customers may make contactless payments by just waving their smartphone in front of the reader. Thus, the payment method becomes faster and more convenient than card insertion. Contactless payments are more secure due to the rapid transfer of encrypted data to the point-of-sale gadget. Mobile Point of Sale Mobile-point-of-sale (mPOS) is a breakthrough technology since it liberates retailers from storefronts and in-store payments. Instead, it is a portable register that operates on a tablet, smartphone, or mobile device. Mobile POS has significantly altered a store's payment procedure by making it more efficient and adaptable. According to Global Market Insights, mPOS will grow at a 19% CAGR between 2020 and 2026. Mobile Wallet Transaction According to Juniper Research, digital and mobile wallet usage will surpass 4.4 billion by 2025. Mobile wallets do not require a real bank account and keep all payment information securely and compactly. This is enabled through Near Field Communication (NFC) technology, which allows devices in close proximity to communicate and share data quickly. With the rise in demand for contactless payments, NFC has become a prominent term in digital payments. Final Word There are many proven ways to send money around the world. It is essential to consider how money moves across borders. The answer depends on the payment's context. Today's businesses want diverse and straightforward methods for international money transfers. The choices available to enterprises range from SWIFT and ACH transfers to digital wallets and cheques to credit cards and even crypto money. Digital payments enable organizations to conduct money transfers efficiently, transparently, and cost-effectively. This will encourage the global economy to continue expanding and strengthening further.

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Top Reasons Businesses Choose Cloud-based POS Systems

Article | May 20, 2022

Digital innovations make a significant impact on the payment business. Point-of-sale is one such innovation that eases the payment mode. Traditional POS systems face several obstacles, such as data storage on local servers, higher upfront payments, limited access to the data, and higher costs. On the contrary, a cloud-based POS system is easier and offers more agility and access, making the payment process seamless and less time taking. Customer expectations are constantly changing regarding seamless online and offline payment processes. Cloud-based POS systems ensure the best possible customer experience while staying relevant to the rapidly evolving technology. Making the lives of the customers easier is the primary goal of the payment service provider. Deciding Between Getting a Traditional or A Cloud-Based POS System? POS software has improved over the past decade, and many firms have hopped on the POS system bandwagon. There are different types of POS systems available, and you may get confused, especially if you are new to POS. Purchasing a POS system is a long-term investment and should not be made without extensive research and knowledge. It would be best to compare the pros and cons of traditional and cloud-based POS options. Identify your business's needs and select the right POS system. On-site or existing POS is an old method. The data is stored on local servers and in closed networks. It is commonly known that standard POS systems can be complex and time-consuming. Also, installing large hardware adds to the cost of getting started. If you use older methods, you might be able to access data on-site, but you could lose it. A cloud-based POS is easy to use and easy to get to. The cloud-based POS system is adaptable and can easily add new modules or apps from other corporates. The software is rented by the month or year. Methods that use the cloud allow mobile access which means you can leverage the functionality of mobile POS without fully implementing a mobile POS system. POS software that runs in the cloud is also automatically backed up. Cloud-based POS software offers incredible benefits for your business. Reasons for Opting for a Cloud-based POS System Cloud POS Systems Are More Secure A cloud-based POS system lowers all types of risks due to stringent security standards. Cloud technology allows the POS software to automatically backup the data and sync via remote servers. The regular updating of the system increases the security level of the software. Remote System Access Switching to a cloud-based POS system allows you to access your back-office functionality from anywhere. This capability gives you the ability to receive important updates regarding inventory or vendor issues on your mobile or home computer. You will also benefit from the security of cloud backup for your data. Cost-effective Cloud-based POS may appear to be more expensive than conventional POS systems. Nevertheless, cloud-based technologies are preferable for SMBs. In contrast to traditional POS systems, cloud-based SaaS has no upfront costs and has low monthly rates. Automatic software updates are delivered, and the system can update itself. Better Customer Service Cloud POS is compatible with various payment options and can send invoices through email or SMS. This enhances the purchase experience for your brand's customers. Customers interested in simple technology like simple processes are thus satisfied with the commercial services a POS system delivers. By choosing a cloud-based POS system, you'll always be able to meet customer needs quickly. Also, remember that you can get updates, which are meant to change some features to fit how people use them. Conclusion We’ve seen a few reasons that why you should consider transitioning to a cloud-based point-of-sale system, but the list is unlimited. If you have not considered implementing a point-of-sale system, now is the time to do so. The most prominent upside is that a sound POS system facilitates sales and increases the capacity to attract more clients.

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Spotlight

Tilled

Tilled empowers ISVs to monetize the payments flowing through their platforms. Through Modern APIs and SDKs, Tilled's turnkey system allows software companies to be set up and running in a matter of weeks, with no upfront costs or additional headcount required. Without any of the headaches, regulatory compliance, or liabilities of becoming a fully registered facilitator, Tilled makes it easy for any software company to take full advantage of the benefits of payment facilitation. Tilled was founded in 2019 by Caleb Avery and is currently based in Boulder, Colorado.

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Finastra launches embedded consumer lending solution

Finastra | July 01, 2022

Finastra today unveiled its embedded consumer lending solution, enabling access to traditional regulated lending options for consumers at point-of-sale (POS). Financial institutions, distributors and merchants will benefit from a platform that makes it easy for their customers to access lending options. For end consumers, Finastra Embedded Consumer Lending aims to make the buying process as frictionless as possible, providing more options to consumers and an alternative to the Buy Now Pay Later approach, which is often not applicable to high value purchases. For merchants, the BaaS platform provides access to numerous lenders and their specific products. And for financial institutions, Finastra Embedded Consumer Lending provides access to a marketplace of distributors and merchants to distribute their banking products. Jeannette Kescenovitz, Senior Director, Solution Management, Banking as a Service and Orchestration at Finastra said, "Finastra's Embedded Consumer Lending solution offers financial institutions a direct route to growth by offering loans via a merchant's digital point-of-sale. The solution builds connectivity and relationships between financial institutions and the distributor organizations that embed lending solutions at merchants' point-of-sale." "Banking as a Service (BaaS) is a vital component of our growth strategy and embedding loans at the consumer point-of-sale opens a new channel to provide financing to customers we couldn't have reached before. This cost-effective solution delivers consumers a safer, regulated alternative when it comes to POS financing. As our trusted partner of many years, Finastra is the ideal orchestrator as we connect and scale on our embedded finance offering." -Josh Williams, EVP, Chief Banking Officer at Seattle Ban. Finastra's Embedded Consumer Lending exposes APIs on Finastra's FusionFabric.cloud open platform with which third-party distributors, like Loanstar Technologies, may integrate. Loanstar Technologies offers state of the art technology to connect lenders to borrowers, creating POS consumer loans through their merchant network in numerous verticals. Andrew Turner, CEO at Loanstar Technologies said, Working with Finastra will enable us to scale up significantly, providing access to hundreds of financial institutions, like Seattle Bank, across the US. As a trusted provider of mission-critical financial services software, Finastra will help us connect with the right bank providers to bring billions of dollars of new liquidity to fund POS loans with our merchant customers. Integrated with Finastra's lending and origination core systems and hosted on Microsoft Azure, the solution enables financial institutions to process POS loan applications, including performing identity verification, decisioning, facilitating e-sign, as well as account creation and funding (through the bank's core banking system). Using APIs and event notification systems, third-party distributors can provide real-time feedback to merchants and consumers on loan status. About Finastra- Finastra is a global provider of financial software applications and marketplaces, and launched the leading open platform for innovation, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing award-winning solutions and services across Lending, Payments, Treasury & Capital Markets and Retail & Digital Banking for banks to support direct banking relationships and grow through indirect channels, such as embedded finance and Banking as a Service. Its pioneering approach and commitment to open finance and collaboration is why it is trusted by ~8,600 institutions, including 90 of the world's top 100 banks.

Read More

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Sionic to Enter into a Multi-Year Agreement with Google Cloud

Sionic | June 29, 2022

Sionic is a leading provider of consumer-to-business and omni-commerce payments solutions and international technology and consulting firm serving the banking, insurance, and other financial sectors announced entering into a multi-year agreement with a suite of cloud computing services, Google Cloud. The company has chosen Google Cloud as the only cloud service provider for the country-wide rollout of its real-time, bank-to-bank digital payment services, which lets customers deposit cash into merchants' accounts at the point of sale. After eight years of hosting Sionic’s mobile commerce platform with Amazon Web Services (AWS), the company has decided to use Google Cloud to power its online, ULink mobile, in-store, and in-vehicle service experiences. "We invested a lot of time with the Google Cloud team to thoroughly understand the value and benefits of Google Cloud over AWS." He added, "Having that level of interaction and support from knowledgeable, real human beings was a great first impression. Google Cloud’s focus on security, scalability, and sustainability mirrors our objectives as we bring current and future solutions to market. We have greatly decreased our infrastructure management needs and increased our development velocity by using Cloud Run, Cloud SQL and Big Query." -Justin Turner, Director of Product for Sionic "The payments industry is increasingly embracing the security and scalability that is offered by cloud technology," stated Yolande Piazza, Vice President, Financial Services, Google Cloud. "We look forward to working with Sionic to enable its bank-to-bank digital payment service and enhance the payments experience for customers." "We are anticipating steady, month-over-month transaction volume growth as we connect our Pay-by-Bank service to existing card payment providers already processing billions of transactions annually," mentioned Erica Burris, VP Strategy and Product for Sionic,

Read More

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Agilysys Extended Experience Enhancers Collection to Amplify ROE

Agilysys Inc. | June 28, 2022

Agilysys Inc., an American developer and marketer of proprietary enterprise software and other products, announced expanding its experience enhancers collection by introducing two hospitality application collections at HITEC Orlando 2022 that elevate return on experience (ROE). Collectively, the company's primary point-of-sale systems (POS), property management systems (PMS), and inventory & procurement (I&P) systems contain 28 integrated extensions. ROE examines how technology empowers and creates more engaged staff members and guests who spend more, return more often and give better reviews. By ensuring that every experience at every touchpoint avoids disappointment and produces a champion, ROE covers longer-term gains. Formulated to increase ROE through the experience of various staff and guests, the Experience Enhancers Collections from Agilysys enable management companies, property operators, and owners to boost the emotional and empirical returns derived from integrating cutting-edge technology across their operations. Rohith Kori, vice president, product and corporate strategy for Agilysys, said, “Hospitality technology must clear a higher bar than traditional ROI because hospitality is a zero-disappointment business.” He added, “If a property exceeds expectations on nine out of 10 guest experiences but disappoints on the tenth, that is the one that will show up on a review site, discouraging both return and referral business. By making ROE a priority and by providing broad options for customers to build ROE, we help to drive high return hospitality overall.” Kori mentioned that the company enhances ROE through integrated, experience-focused modules designed based on industry dynamics as well as customer input, such as the elevated demand for mobility and self-service for both guests and staff. In addition, Agilysys will reveal its Experience Enhancers for Food & Beverage collection, which comprises 12 applications, and Experience Enhancers for Hospitality collection, which consists of 18 applications.

Read More

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Finastra launches embedded consumer lending solution

Finastra | July 01, 2022

Finastra today unveiled its embedded consumer lending solution, enabling access to traditional regulated lending options for consumers at point-of-sale (POS). Financial institutions, distributors and merchants will benefit from a platform that makes it easy for their customers to access lending options. For end consumers, Finastra Embedded Consumer Lending aims to make the buying process as frictionless as possible, providing more options to consumers and an alternative to the Buy Now Pay Later approach, which is often not applicable to high value purchases. For merchants, the BaaS platform provides access to numerous lenders and their specific products. And for financial institutions, Finastra Embedded Consumer Lending provides access to a marketplace of distributors and merchants to distribute their banking products. Jeannette Kescenovitz, Senior Director, Solution Management, Banking as a Service and Orchestration at Finastra said, "Finastra's Embedded Consumer Lending solution offers financial institutions a direct route to growth by offering loans via a merchant's digital point-of-sale. The solution builds connectivity and relationships between financial institutions and the distributor organizations that embed lending solutions at merchants' point-of-sale." "Banking as a Service (BaaS) is a vital component of our growth strategy and embedding loans at the consumer point-of-sale opens a new channel to provide financing to customers we couldn't have reached before. This cost-effective solution delivers consumers a safer, regulated alternative when it comes to POS financing. As our trusted partner of many years, Finastra is the ideal orchestrator as we connect and scale on our embedded finance offering." -Josh Williams, EVP, Chief Banking Officer at Seattle Ban. Finastra's Embedded Consumer Lending exposes APIs on Finastra's FusionFabric.cloud open platform with which third-party distributors, like Loanstar Technologies, may integrate. Loanstar Technologies offers state of the art technology to connect lenders to borrowers, creating POS consumer loans through their merchant network in numerous verticals. Andrew Turner, CEO at Loanstar Technologies said, Working with Finastra will enable us to scale up significantly, providing access to hundreds of financial institutions, like Seattle Bank, across the US. As a trusted provider of mission-critical financial services software, Finastra will help us connect with the right bank providers to bring billions of dollars of new liquidity to fund POS loans with our merchant customers. Integrated with Finastra's lending and origination core systems and hosted on Microsoft Azure, the solution enables financial institutions to process POS loan applications, including performing identity verification, decisioning, facilitating e-sign, as well as account creation and funding (through the bank's core banking system). Using APIs and event notification systems, third-party distributors can provide real-time feedback to merchants and consumers on loan status. About Finastra- Finastra is a global provider of financial software applications and marketplaces, and launched the leading open platform for innovation, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing award-winning solutions and services across Lending, Payments, Treasury & Capital Markets and Retail & Digital Banking for banks to support direct banking relationships and grow through indirect channels, such as embedded finance and Banking as a Service. Its pioneering approach and commitment to open finance and collaboration is why it is trusted by ~8,600 institutions, including 90 of the world's top 100 banks.

Read More

POS SOLUTIONS

Sionic to Enter into a Multi-Year Agreement with Google Cloud

Sionic | June 29, 2022

Sionic is a leading provider of consumer-to-business and omni-commerce payments solutions and international technology and consulting firm serving the banking, insurance, and other financial sectors announced entering into a multi-year agreement with a suite of cloud computing services, Google Cloud. The company has chosen Google Cloud as the only cloud service provider for the country-wide rollout of its real-time, bank-to-bank digital payment services, which lets customers deposit cash into merchants' accounts at the point of sale. After eight years of hosting Sionic’s mobile commerce platform with Amazon Web Services (AWS), the company has decided to use Google Cloud to power its online, ULink mobile, in-store, and in-vehicle service experiences. "We invested a lot of time with the Google Cloud team to thoroughly understand the value and benefits of Google Cloud over AWS." He added, "Having that level of interaction and support from knowledgeable, real human beings was a great first impression. Google Cloud’s focus on security, scalability, and sustainability mirrors our objectives as we bring current and future solutions to market. We have greatly decreased our infrastructure management needs and increased our development velocity by using Cloud Run, Cloud SQL and Big Query." -Justin Turner, Director of Product for Sionic "The payments industry is increasingly embracing the security and scalability that is offered by cloud technology," stated Yolande Piazza, Vice President, Financial Services, Google Cloud. "We look forward to working with Sionic to enable its bank-to-bank digital payment service and enhance the payments experience for customers." "We are anticipating steady, month-over-month transaction volume growth as we connect our Pay-by-Bank service to existing card payment providers already processing billions of transactions annually," mentioned Erica Burris, VP Strategy and Product for Sionic,

Read More

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Agilysys Extended Experience Enhancers Collection to Amplify ROE

Agilysys Inc. | June 28, 2022

Agilysys Inc., an American developer and marketer of proprietary enterprise software and other products, announced expanding its experience enhancers collection by introducing two hospitality application collections at HITEC Orlando 2022 that elevate return on experience (ROE). Collectively, the company's primary point-of-sale systems (POS), property management systems (PMS), and inventory & procurement (I&P) systems contain 28 integrated extensions. ROE examines how technology empowers and creates more engaged staff members and guests who spend more, return more often and give better reviews. By ensuring that every experience at every touchpoint avoids disappointment and produces a champion, ROE covers longer-term gains. Formulated to increase ROE through the experience of various staff and guests, the Experience Enhancers Collections from Agilysys enable management companies, property operators, and owners to boost the emotional and empirical returns derived from integrating cutting-edge technology across their operations. Rohith Kori, vice president, product and corporate strategy for Agilysys, said, “Hospitality technology must clear a higher bar than traditional ROI because hospitality is a zero-disappointment business.” He added, “If a property exceeds expectations on nine out of 10 guest experiences but disappoints on the tenth, that is the one that will show up on a review site, discouraging both return and referral business. By making ROE a priority and by providing broad options for customers to build ROE, we help to drive high return hospitality overall.” Kori mentioned that the company enhances ROE through integrated, experience-focused modules designed based on industry dynamics as well as customer input, such as the elevated demand for mobility and self-service for both guests and staff. In addition, Agilysys will reveal its Experience Enhancers for Food & Beverage collection, which comprises 12 applications, and Experience Enhancers for Hospitality collection, which consists of 18 applications.

Read More

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