Home > Resources > Articles > Getting smart about payment terminals

Getting smart about payment terminals

For many years, payment terminals have been a vital tool for businesses that complete their customer transactions in-store. The familiar hand-held devices have reliably taken card payments and offered simple additional services like mobile phone top-ups, cashback or electronic tipping solutions.

However, with recent technical innovation, boosted by the urgency surrounding Covid-19, the humble payment terminal is shedding its hard exterior - no longer is it, as some would argue, simply a commoditised, hardware-based necessity. As many within the payments space have predicted, the payment terminal is truly becoming a digital enabler and vital pivot point of modernisation for any business that accepts electronic transactions.

The Android Operating System leads the way

Today, payment terminals come in many forms. Though the traditional, handheld counter-top devices remain, many businesses now use off-the-shelf smartphones or tablets enabled with SPOC and CPOC technology. 

Regardless of their physical form, truly modern payment terminals share a commonality – enhanced functionality which allows businesses to update and adapt quickly to changing performance, environments, and customer needs. 

The Android operating system has been at the centre of a latest wave of innovation, facilitating the rise of mobile payment devices - pushed hard by the likes of Visa - and supporting the budding versatilities presented by Open Banking and PSD2 initiatives. 



Combined, this new choice and flexibility has the potential to deliver significant advantages to businesses deploying Android point-of-sale (POS) solutions. These include integrated EPOS, strong authentication, and an array of alternative payment methods such as bank-to-bank payments, QR codes and even crypto currencies. 

It’s about more than being just Covid-ready

Getting the timing right to make adjustments and improvements is now a focus for businesses across the UK as we start to emerge from Covid-19 restrictions and resume face-to-face interactions. The conventional payment terminal can play a central part in engineering the essential adjustments needed to create a Covid-safe environment – the new £100 contactless limit being the most obvious example.

However, functionality provided by the latest payment terminals allows businesses to do more than just make their premises Covid-ready.

For more commercial gains, payment terminals running on the Android OS allow for this same POS functionality but combine it with other essential business systems such as stock management, visual itemisation, and centralised booking systems.

As well as providing greater visibility of a business’ health and finances, more information also means friction points such as wait times and queues in store can be better managed. More data about customer behaviour also makes the in-store experience more customisable, for example, businesses can use this data to identify their busiest periods, explore seasonal changes or test new product lines and structure their staff planning and stock levels accordingly.

Coupled with more vital operational efficiencies, payment terminals can allow for a speed and flexibility of payments that can directly enhance the bottom line.

As the pace in retail environments ramps up to match that of the pre-Covid days, meeting new customer expectations and new environmental changes will be critical in staying relevant. An ability to accept the latest types and methods of payment could actually play a part in helping a business survive through difficult economic times. 

Bolstering cash flow will also take on added importance as businesses rebuild. Payment terminals powered by better internet connections mean transactions are already faster, but internet speed alone is not enough. Today, terminals can be updated in ways that allow merchants to process those transactions faster still and get funds deposited into bank accounts in batches throughout the day, often completing within the hour.

Payment terminals and Big Data

With data becoming the bedrock of all modern businesses, it is the Android operating system’s ability to generate such an impressive wealth of data that adds to its compelling proposition. The value of Big Data and analytics to filter large volumes of information and uncover actionable insights is well known to the business world. Useable information can help leaders learn about their customers, make better decisions and, ultimately, produce more revenue. Customer data, for example, makes it possible for a business to learn about the buying behaviours of an individual customer or of defined customer segments.

When a business knows the time of day (or night) their customers shop and what type of purchases they make, it becomes easier to plan when inventories are stocked and with what items. Android payment terminals can provide data in a way that offers easy visibility of key trends and which specific hours of the day produce the most sales, allowing businesses to investigate possible reasons and react accordingly.

Such knowledge can then be used for a variety of purposes including the ability to upsell to future customers with greater success and the tactical arrangement of items in store. Crucially now, it will also enable businesses to maintain a Covid-safe environment by planning ahead for in-store activity and capacity limits.

With hundreds of applications already available to download from the app store, it’s important that SMEs are able to use this scale of choice to their advantage rather than become overwhelmed or distracted by it. Indeed, by taking the time to explore the apps available, smaller businesses can find the tools which allow them to level the playing field by bringing their operational efficiencies in line with larger brands and by leveraging the solutions that allow them to compete on customer service.

Spotlight

Bourne Brooke & Associates

Bourne Brooke & Associates is an independently owned recruitment consultancy based in the United Arab Emirates, working in partnership with some of the most reputable Retail, eCommerce and Fashion Brands across Middle East and European Markets.

OTHER ARTICLES
POS Solutions

Future-Proofing Businesses: Key Emerging Cloud POS Trends to Watch

Article | September 12, 2023

Delve into key trends in cloud POS technologies and understand how these payment technology trends enhances customer experiences, transactional security, and improve enterprises positioning. Introduction The retail and hospitality industries have seen an exceptional transformation in recent years, driven by shifting consumer expectations and accelerated technological advancements, where the adoption of cloud Point of Sale (cloud POS) systems has emerged as one of the most transformative innovations. These advanced cloud-based solutions are revolutionizing the ways in which businesses manage sales, inventory, and consumer interactions. The adoption of cloud POS technology is no longer a choice but a strategic imperative for businesses, especially in the retail and hospitality sectors. The convergence of mobility, enhanced security, data-driven insights, sustainability, and omni-channel capabilities makes cloud POS systems an indispensable tool for success in a rapidly evolving business space. From Cash Registers to Cloud: The Future of POS Trends for Businesses In an era distinguished by technological advancement and rapidly changing consumer expectations, businesses across numerous industries must deliver a seamless customer experience to remain ahead of the curve. As cloud point of sale technology offers numerous advantages to businesses, such as increased flexibility, accessibility, security, integration capabilities, cost-effectiveness, and disaster recovery, the incorporation of these advanced payment solutions has become imperative. Cloud based POS solutions provide an undeniable competitive advantage, and businesses must not only install them but also maintain an acute awareness of the most significant trends in this space. Here are some critical emerging cloud POS trends to keep an eye on in order to future-proof the company: Inclination Towards Mobility and Tablet-Based Solutions As businesses increasingly employ tablet-basedcloud POSsystems, the conventional idea of static, fixed-point cash registers are becoming obsolete. These solutions enable sales staff to complete transactions and provide assistance to customers throughout the store, introducing a new level of adaptability and productivity. By embracing mobility and tablet-based POS solutions, businesses not only lower wait times and improve customer experience but also streamline their processes, allowing them to respond more effectively to the changing needs of the modern marketplace. With the adoption of this trend, businesses gain a competitive advantage by refining their operations and aligning themselves with the requirements of modern consumers who value both convenience and customization. Emphasis on POS Integration Capabilities With a growing emphasis on customer data, behavior analysis, and inventory data, the integrations between cloud based POS systems and mission-critical software applications, such as e-commerce platforms, inventory management, accounting, and customer relationship management (CRM) systems, are on the rise. This trend enables businesses to dismantle data centers and create a unified ecosystem in which information flows seamlessly between all operational aspects. By keeping apprised of these integration features, businesses can lower manual data entry, eliminate errors, and obtain a broad view of their data, enabling them to make more informed decisions and enhance their overall efficiency and productivity. With this, integration has emerged as an imperative strategy for businesses seeking to flourish in a market that is becoming increasingly competitive. Rise of Omni-Channel Commerce Modern consumers expect an effortless buying experience irrespective of whether they are interacting with a business online or in person.Cloud-based POSsystems are evolving to meet these demands by integrating with e-commerce platforms, enabling consistent pricing and promotions as well as offering real-time inventory visibility across all channels. This allows businesses to provide services such as ship-from-store, returns and exchanges across channels, and buy-online-pick-up-in-store (BOPIS), which offers customers a convenient and seamless shopping journey. The rise of omnichannel commerce is more than just a trend; it is an emerging need for organizations trying to remain competitive and create consistent, outstanding experiences across all touchpoints, eventually increasing consumer pleasure and loyalty. Surge in Data-Driven Insights and AI As the demand for better customer experience continues to grow, payment technologies such as cloudPOS systemsare no longer just used for transactional applications but are also used for robust data analysis and decision-making. Using the vast quantities of data generated by cloud POS software, businesses can now obtain valuable insights into sales trends, customer behavior, and inventory management. Furthermore, the integration of AI enhances these systems by predictive inventory forecasting, resulting in facilitating advanced analytics and creating personalized marketing campaigns. In an increasingly data-centric business environment, businesses are thus focusing on adopting this cloud POS trend to make data-driven decisions that optimize their operations, improve customer experiences, and maintain a competitive edge. Personalized In-store Shopping Experiences The trend toward personalized in-store purchasing experiences represents a fundamental change in how businesses interact with their customers. This trend is a response to consumers' changing expectations, who want more than just transactions and seek meaningful interaction. Cloud based POS solutions are at the forefront of this innovation, allowing businesses to access real-time customer profiles, purchase histories, and preferences. Leveraging this information, salespersons can deliver customized product suggestions, personalized promotions, and a level of service that resonates with each customer's specific wants and aspirations. This not only assists businesses to improve the in-store shopping experience but also fosters brand loyalty and encourages repeat business, positioning them for long-term success in a customer-centric world. Bottom Lines Cloud-based systems provide enterprises with the adaptability, security, and integration capabilities necessary to remain competitive and meet evolving consumer expectations. From improved safety and advanced analytics to omni-channel commerce and sustainable practices, thesefuture trendsprovide a road map for businesses seeking success in the digital age. By staying abreast of these key cloud POS trends, businesses can position themselves as agile, innovative, and customer-focused. This proactive strategy ensures that they are not only keeping up with change but actively influencing their future in a competitive market. As a result, the adoption of cloud POS technology is no longer a choice but a strategic imperative for businesses across various sectors. The convergence of mobility, enhanced security, data-driven insights, sustainability, and omni-channel capabilities makes cloud POS systems an indispensable tool for success in a rapidly evolving customer-centric space. By embracing these key trends, businesses can deliver exceptional customer experiences and drive growth in an increasingly competitive marketplace.

Read More
POS Solutions

Retail ,Wholesale Trade,Ecommerce,Retail,E-commerce,point of sale.

Article | June 1, 2022

Last July, a small group representing the giants of the tech industry gathered in the seat of US government, Washington DC. They probably didn’t want to be there. Congress had summoned their employers Apple, Facebook, Google, and Amazon to answer questions about the command they hold over the markets they operate in. On Amazon’s behalf, associate general counsel Nate Sutton spoke in defense of his employer’s role in US retail. Throughout, he argued that Amazon isn’t so powerful as to be able to control prices and stifle competition. Amazon, he pointed out, makes up less than 1% of retail globally. In the US, it accounts for around 4% of retail. In fact, Walmart is much larger than Amazon, he said. In terms of sales, Sutton is right. Walmart reported $510 billion in total sales across its US and international segments in the 2019 fiscal year, versus Amazon’s $233 billion in roughly the same period.

Read More
POS Solutions, POS Hardware

How SMEs can emulate the success of Amazon through ecommerce personalization

Article | August 18, 2022

Whatever your feelings are towards Amazon, there is no denying that they have revolutionised ecommerce and now set the bar for the personalised experience of users when it comes to online shopping. So much so that it was recently reported that they have more than a 30% share of the UK’s ecommerce market. With statistics like this, it may feel like it is impossible to compete, especially as Amazon has huge tech and marketing budgets at its disposal. However, all is not lost. It is possible for SMEs to learn from the forerunner and implement some of their most successful techniques, with regards to their use of ecommerce personalisation and AI, to increase sales cost effectively.

Read More

How Retailers Can Utilize In-Store Digital Signage

Article | February 10, 2020

Consumer attention is shifting. Brick-and-mortar stores must now compete with e-retailers as customers spend more time online, thanks to targeted ads and personalized deals. As noted by Digital eCommerce, online sales rose almost 18 percent last year to $3.46 trillion worldwide and are on track to top $892 billion across the U.S. in less than two years. This shift has alerted most brands to the need for a retail evolution to ensure ongoing success. With e-commerce sales still accounting for just under 10 percent of retail revenues, businesses have an opportunity to boost sales and raise their brand profile — if they can reliably capture consumer interest. One solution: effective and engaging digital signage. Retailers Can Capture Crucial In-Store Moments To capture attention and drive conversion, businesses must capitalize on what Google calls micro-moments, when customers leverage their mobile devices to discover more information, find a price or pinpoint a vendor online.

Read More
POS Solutions

Future-Proofing Businesses: Key Emerging Cloud POS Trends to Watch

Article | September 12, 2023

Delve into key trends in cloud POS technologies and understand how these payment technology trends enhances customer experiences, transactional security, and improve enterprises positioning. Introduction The retail and hospitality industries have seen an exceptional transformation in recent years, driven by shifting consumer expectations and accelerated technological advancements, where the adoption of cloud Point of Sale (cloud POS) systems has emerged as one of the most transformative innovations. These advanced cloud-based solutions are revolutionizing the ways in which businesses manage sales, inventory, and consumer interactions. The adoption of cloud POS technology is no longer a choice but a strategic imperative for businesses, especially in the retail and hospitality sectors. The convergence of mobility, enhanced security, data-driven insights, sustainability, and omni-channel capabilities makes cloud POS systems an indispensable tool for success in a rapidly evolving business space. From Cash Registers to Cloud: The Future of POS Trends for Businesses In an era distinguished by technological advancement and rapidly changing consumer expectations, businesses across numerous industries must deliver a seamless customer experience to remain ahead of the curve. As cloud point of sale technology offers numerous advantages to businesses, such as increased flexibility, accessibility, security, integration capabilities, cost-effectiveness, and disaster recovery, the incorporation of these advanced payment solutions has become imperative. Cloud based POS solutions provide an undeniable competitive advantage, and businesses must not only install them but also maintain an acute awareness of the most significant trends in this space. Here are some critical emerging cloud POS trends to keep an eye on in order to future-proof the company: Inclination Towards Mobility and Tablet-Based Solutions As businesses increasingly employ tablet-basedcloud POSsystems, the conventional idea of static, fixed-point cash registers are becoming obsolete. These solutions enable sales staff to complete transactions and provide assistance to customers throughout the store, introducing a new level of adaptability and productivity. By embracing mobility and tablet-based POS solutions, businesses not only lower wait times and improve customer experience but also streamline their processes, allowing them to respond more effectively to the changing needs of the modern marketplace. With the adoption of this trend, businesses gain a competitive advantage by refining their operations and aligning themselves with the requirements of modern consumers who value both convenience and customization. Emphasis on POS Integration Capabilities With a growing emphasis on customer data, behavior analysis, and inventory data, the integrations between cloud based POS systems and mission-critical software applications, such as e-commerce platforms, inventory management, accounting, and customer relationship management (CRM) systems, are on the rise. This trend enables businesses to dismantle data centers and create a unified ecosystem in which information flows seamlessly between all operational aspects. By keeping apprised of these integration features, businesses can lower manual data entry, eliminate errors, and obtain a broad view of their data, enabling them to make more informed decisions and enhance their overall efficiency and productivity. With this, integration has emerged as an imperative strategy for businesses seeking to flourish in a market that is becoming increasingly competitive. Rise of Omni-Channel Commerce Modern consumers expect an effortless buying experience irrespective of whether they are interacting with a business online or in person.Cloud-based POSsystems are evolving to meet these demands by integrating with e-commerce platforms, enabling consistent pricing and promotions as well as offering real-time inventory visibility across all channels. This allows businesses to provide services such as ship-from-store, returns and exchanges across channels, and buy-online-pick-up-in-store (BOPIS), which offers customers a convenient and seamless shopping journey. The rise of omnichannel commerce is more than just a trend; it is an emerging need for organizations trying to remain competitive and create consistent, outstanding experiences across all touchpoints, eventually increasing consumer pleasure and loyalty. Surge in Data-Driven Insights and AI As the demand for better customer experience continues to grow, payment technologies such as cloudPOS systemsare no longer just used for transactional applications but are also used for robust data analysis and decision-making. Using the vast quantities of data generated by cloud POS software, businesses can now obtain valuable insights into sales trends, customer behavior, and inventory management. Furthermore, the integration of AI enhances these systems by predictive inventory forecasting, resulting in facilitating advanced analytics and creating personalized marketing campaigns. In an increasingly data-centric business environment, businesses are thus focusing on adopting this cloud POS trend to make data-driven decisions that optimize their operations, improve customer experiences, and maintain a competitive edge. Personalized In-store Shopping Experiences The trend toward personalized in-store purchasing experiences represents a fundamental change in how businesses interact with their customers. This trend is a response to consumers' changing expectations, who want more than just transactions and seek meaningful interaction. Cloud based POS solutions are at the forefront of this innovation, allowing businesses to access real-time customer profiles, purchase histories, and preferences. Leveraging this information, salespersons can deliver customized product suggestions, personalized promotions, and a level of service that resonates with each customer's specific wants and aspirations. This not only assists businesses to improve the in-store shopping experience but also fosters brand loyalty and encourages repeat business, positioning them for long-term success in a customer-centric world. Bottom Lines Cloud-based systems provide enterprises with the adaptability, security, and integration capabilities necessary to remain competitive and meet evolving consumer expectations. From improved safety and advanced analytics to omni-channel commerce and sustainable practices, thesefuture trendsprovide a road map for businesses seeking success in the digital age. By staying abreast of these key cloud POS trends, businesses can position themselves as agile, innovative, and customer-focused. This proactive strategy ensures that they are not only keeping up with change but actively influencing their future in a competitive market. As a result, the adoption of cloud POS technology is no longer a choice but a strategic imperative for businesses across various sectors. The convergence of mobility, enhanced security, data-driven insights, sustainability, and omni-channel capabilities makes cloud POS systems an indispensable tool for success in a rapidly evolving customer-centric space. By embracing these key trends, businesses can deliver exceptional customer experiences and drive growth in an increasingly competitive marketplace.

Read More
POS Solutions

Digital Payments – Preferred Way To Exchange Money

Article | June 1, 2022

Last July, a small group representing the giants of the tech industry gathered in the seat of US government, Washington DC. They probably didn’t want to be there. Congress had summoned their employers Apple, Facebook, Google, and Amazon to answer questions about the command they hold over the markets they operate in. On Amazon’s behalf, associate general counsel Nate Sutton spoke in defense of his employer’s role in US retail. Throughout, he argued that Amazon isn’t so powerful as to be able to control prices and stifle competition. Amazon, he pointed out, makes up less than 1% of retail globally. In the US, it accounts for around 4% of retail. In fact, Walmart is much larger than Amazon, he said. In terms of sales, Sutton is right. Walmart reported $510 billion in total sales across its US and international segments in the 2019 fiscal year, versus Amazon’s $233 billion in roughly the same period.

Read More
POS Solutions, POS Hardware

Restaurant POS Systems: The Latest and Future Trends

Article | August 18, 2022

Whatever your feelings are towards Amazon, there is no denying that they have revolutionised ecommerce and now set the bar for the personalised experience of users when it comes to online shopping. So much so that it was recently reported that they have more than a 30% share of the UK’s ecommerce market. With statistics like this, it may feel like it is impossible to compete, especially as Amazon has huge tech and marketing budgets at its disposal. However, all is not lost. It is possible for SMEs to learn from the forerunner and implement some of their most successful techniques, with regards to their use of ecommerce personalisation and AI, to increase sales cost effectively.

Read More

How Retailers Can Utilize In-Store Digital Signage

Article | February 10, 2020

Consumer attention is shifting. Brick-and-mortar stores must now compete with e-retailers as customers spend more time online, thanks to targeted ads and personalized deals. As noted by Digital eCommerce, online sales rose almost 18 percent last year to $3.46 trillion worldwide and are on track to top $892 billion across the U.S. in less than two years. This shift has alerted most brands to the need for a retail evolution to ensure ongoing success. With e-commerce sales still accounting for just under 10 percent of retail revenues, businesses have an opportunity to boost sales and raise their brand profile — if they can reliably capture consumer interest. One solution: effective and engaging digital signage. Retailers Can Capture Crucial In-Store Moments To capture attention and drive conversion, businesses must capitalize on what Google calls micro-moments, when customers leverage their mobile devices to discover more information, find a price or pinpoint a vendor online.

Read More
MORE ARTICLES

Spotlight

Bourne Brooke & Associates

Bourne Brooke & Associates is an independently owned recruitment consultancy based in the United Arab Emirates, working in partnership with some of the most reputable Retail, eCommerce and Fashion Brands across Middle East and European Markets.

Related News

POS Solutions

Nuvei launches upgraded solution for B2B payments in Canada

GlobeNewswire | October 10, 2023

Nuvei Corporation, the Canadian fintech company, announces today that it has launched its enhanced payments solution for business-to-business (B2B) payments in Canada. B2B businesses working with Nuvei are now able to offer their customers in Canada a holistic payments solution including Card-Not-Present and account-to-account processing capabilities, Level 3 processing and Nuvei’s advanced proprietary accounts receivable (AR) solution, directly integrated with their enterprise resource planning (ERP) system. Benefits of Nuvei’s AR solution include simplified workflows and back office efficiencies, unique payment capabilities designed to handle the nuances and complexities of business to business commerce, and shortened invoice to cash cycles. B2B payments is a rapidly growing sector of the Canadian payments landscape, as well as a requirement for the ongoing growth of many businesses focused on domestic or cross-border commerce in Canada. Nuvei is leveraging existing deep integrations into many of the leading ERP solution providers operating in Canada through partnerships in other geographies to accelerate its launch in the country. Nuvei’s unique B2B payment capabilities are often powered through back-end integrations with ERP software systems that allow organizations to manage day-to-day activities across operations, finance, procurement, and commerce. Additional features of Nuvei’s B2B payment function that are now available to Canadian businesses include the ability to offset the cost of card acceptance with fee recovery, automated invoicing – saving both time and money, tokenized payment account information that is stored on file and accessible, and dynamic discounting to further reduce the length of time to access cash. Philip Fayer, Nuvei Chair and CEO, commented on the announcement: “B2B payments is a key growth vertical for Nuvei. We’ve had tremendous success supporting our partners and their customers with leading payments solutions in the U.S., so we are thrilled to be expanding our capabilities internationally.” Fayer continued: “We’re an international payments services provider, but our roots are in Canada, so we are particularly pleased to be bringing this much-needed holistic payments solution to businesses and our partners supporting businesses in the Canadian market.” About Nuvei Nuvei is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 47+ markets, 150 currencies and 634 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.

Read More

POS Solutions

New MeridianLink Mortgage Access Point-of-Sale Solution Provides Lenders With a Seamless Digital Mortgage Application Experience

Business Wire | October 17, 2023

MeridianLink, Inc., a leading provider of modern software platforms for financial institutions and consumer reporting agencies, today announced its new point-of-sale (POS) solution for MeridianLink® Mortgage as part of the MeridianLink® One platform. MeridianLink® Mortgage Access meets borrowers’ demands for a more frictionless digital lending and account opening experience. The highly configurable POS solution for mortgage origination looks to assist financial institutions to slash their application and approval times for consumers. Additionally, the product further strengthens MeridianLink’s innovative SaaS-based mortgage loan origination system by seeking to enhance the borrower’s experience and significantly increase efficiencies. “In today’s economy, borrowers expect to be engaged in their financial experience, whether it’s checking their account balance, transferring money, or originating a mortgage,” said JP Kelly, SVP of Mortgage at MeridianLink. “Mortgage Access functions to make it easy for borrowers to buy or refinance their loans, reduce the friction in the mortgage experience, and decrease turnaround times. In doing so, these efforts will create a smoother process for consumers.” The Mortgage Access launch comes at a time when American consumers expect an increased level of support from their financial institutions. A recent study conducted by MeridianLink discovered that one third of Americans (31%) feel less confident in their ability to afford a home compared to five years ago, and 41% of respondents believed their financial institution did not provide them with sufficient mortgage lending support. The launch of Mortgage Access adds to MeridianLink Mortgage, the Company’s mortgage loan origination system (LOS) with a natively built product and pricing engine and automated underwriting. Other features of the LOS include the capability for financial institutions to customize user interfaces and automate workflows, manage electronic document packages, and access hundreds of partner integrations. The Mortgage Access product completes MeridianLink’s mortgage lending platform, delivering an end-to-end digital mortgage experience. Mortgage Access is the latest offering in a series of investments MeridianLink has made to further grow and improve its product offerings related to mortgage lending. In late 2022, MeridianLink acquired OpenClose™, an award-winning provider of residential mortgage software, to offer omnichannel mortgage solutions and leading POS capabilities that improve efficiency while reducing costs and time to close. In March 2023, both MeridianLink and OpenClose received a HousingWire Tech100 Mortgage Award in recognition of their best-in-class mortgage lending products. ABOUT MERIDIANLINK MeridianLink® powers digital lending and account opening for financial institutions and provides data verification solutions for consumer reporting agencies. MeridianLink’s scalable, cloud-based platforms help customers build deeper relationships with consumers through data-driven, personalized experiences across the entire lending life cycle. MeridianLink enables customers to accelerate revenue growth, reduce risk, and exceed consumer expectations through seamless digital experiences. Its partner marketplace supports hundreds of integrations for tailored innovation. For more than 20 years, MeridianLink has prioritized the democratization of lending for consumers, businesses, and communities.

Read More

POS Solutions

myPOS unveils Tap to Pay on iPhone for merchants in the UK

PR Newswire | October 19, 2023

UK-based payments company myPOS is introducing Tap to Pay on iPhone for businesses in the UK. Tap to Pay is available within the myPOS Glass app and allows merchants to accept contactless payments directly on their iPhone, with no additional hardware. "As global smartphone penetration and contactless adoption continue to spread, we want to ensure that even the smallest merchants have the technology to grow their sales," said Rob Hay, CEO of myPOS Payments Ltd. "With Tap to Pay on iPhone and myPOS Glass, business owners can start taking payments from anywhere – in the store or on the go. We are excited to simplify in-person payments by offering a fast and secure experience that increases mobility." Business owners are excited about the new solution as well. "With Tap to Pay on iPhone, I can be mobile. I download the myPOS Glass app and I can immediately accept payments on my own phone anywhere I am. It's easy for my customers and very flexible for me," said myPOS merchant Ahmed Saleh, owner of fast-food restaurant The Best Tasty Meal Corner. Another myPOS client, healthcare practitioner Asif Parpia at Otowax Removal, added: "Don't need hardware anymore; always wanted a secure way of accepting payments through my iPhone, so I am excited about the launch of myPOS Glass on iPhone." myPOS clients with compatible phones – iPhone XS or later – can accept contactless payments by downloading and opening the myPOS Glass app, ringing up the sale and presenting their iPhone to the customer. In return, the shopper needs only to tap a contactless payment method like Apple Pay, another digital wallet or a contactless card. Merchants new to the myPOS platform can start using Tap to Pay on iPhone with myPOS Glass after opening a myPOS account and going through online verification. What's more, by becoming a myPOS client, they will benefit from a free merchant account, a free business card and immediate deposits of all accepted payments at no extra cost. Tap to Pay on iPhone requires iOS 15.5 or later. No additional costs are applied to the merchant and no separate devices are needed. Additionally, all transactions are encrypted and secure. Business and customer payment data is safeguarded by the same technology that keeps Apple Pay private. So when a payment is processed, card numbers are not stored on the device, the myPOS app or on Apple servers. To take advantage, business owners can try out the myPOS Glass Starter plan, which allows merchants to pay only as they get paid. It comes with no upfront commitment, no fixed costs and the ability to cancel at any time. About myPOS myPOS is an innovative fintech company serving small and medium-sized business clients across the European Economic Area, Switzerland and the UK. It provides easy and convenient in-store, online and on-the-go payment solutions for more than 170,000 businesses in over 30 European countries. The myPOS platform gives micro businesses and SMEs everything they need to accept payments and manage various aspects of their business, including selling remotely, accelerating cash flow and enabling e-commerce. Business owners receive a free multicurrency merchant account and dedicated IBAN per currency, a business debit card, digitised business management capabilities, and a powerful platform to help them sell anywhere.

Read More

POS Solutions

Nuvei launches upgraded solution for B2B payments in Canada

GlobeNewswire | October 10, 2023

Nuvei Corporation, the Canadian fintech company, announces today that it has launched its enhanced payments solution for business-to-business (B2B) payments in Canada. B2B businesses working with Nuvei are now able to offer their customers in Canada a holistic payments solution including Card-Not-Present and account-to-account processing capabilities, Level 3 processing and Nuvei’s advanced proprietary accounts receivable (AR) solution, directly integrated with their enterprise resource planning (ERP) system. Benefits of Nuvei’s AR solution include simplified workflows and back office efficiencies, unique payment capabilities designed to handle the nuances and complexities of business to business commerce, and shortened invoice to cash cycles. B2B payments is a rapidly growing sector of the Canadian payments landscape, as well as a requirement for the ongoing growth of many businesses focused on domestic or cross-border commerce in Canada. Nuvei is leveraging existing deep integrations into many of the leading ERP solution providers operating in Canada through partnerships in other geographies to accelerate its launch in the country. Nuvei’s unique B2B payment capabilities are often powered through back-end integrations with ERP software systems that allow organizations to manage day-to-day activities across operations, finance, procurement, and commerce. Additional features of Nuvei’s B2B payment function that are now available to Canadian businesses include the ability to offset the cost of card acceptance with fee recovery, automated invoicing – saving both time and money, tokenized payment account information that is stored on file and accessible, and dynamic discounting to further reduce the length of time to access cash. Philip Fayer, Nuvei Chair and CEO, commented on the announcement: “B2B payments is a key growth vertical for Nuvei. We’ve had tremendous success supporting our partners and their customers with leading payments solutions in the U.S., so we are thrilled to be expanding our capabilities internationally.” Fayer continued: “We’re an international payments services provider, but our roots are in Canada, so we are particularly pleased to be bringing this much-needed holistic payments solution to businesses and our partners supporting businesses in the Canadian market.” About Nuvei Nuvei is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 47+ markets, 150 currencies and 634 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.

Read More

POS Solutions

New MeridianLink Mortgage Access Point-of-Sale Solution Provides Lenders With a Seamless Digital Mortgage Application Experience

Business Wire | October 17, 2023

MeridianLink, Inc., a leading provider of modern software platforms for financial institutions and consumer reporting agencies, today announced its new point-of-sale (POS) solution for MeridianLink® Mortgage as part of the MeridianLink® One platform. MeridianLink® Mortgage Access meets borrowers’ demands for a more frictionless digital lending and account opening experience. The highly configurable POS solution for mortgage origination looks to assist financial institutions to slash their application and approval times for consumers. Additionally, the product further strengthens MeridianLink’s innovative SaaS-based mortgage loan origination system by seeking to enhance the borrower’s experience and significantly increase efficiencies. “In today’s economy, borrowers expect to be engaged in their financial experience, whether it’s checking their account balance, transferring money, or originating a mortgage,” said JP Kelly, SVP of Mortgage at MeridianLink. “Mortgage Access functions to make it easy for borrowers to buy or refinance their loans, reduce the friction in the mortgage experience, and decrease turnaround times. In doing so, these efforts will create a smoother process for consumers.” The Mortgage Access launch comes at a time when American consumers expect an increased level of support from their financial institutions. A recent study conducted by MeridianLink discovered that one third of Americans (31%) feel less confident in their ability to afford a home compared to five years ago, and 41% of respondents believed their financial institution did not provide them with sufficient mortgage lending support. The launch of Mortgage Access adds to MeridianLink Mortgage, the Company’s mortgage loan origination system (LOS) with a natively built product and pricing engine and automated underwriting. Other features of the LOS include the capability for financial institutions to customize user interfaces and automate workflows, manage electronic document packages, and access hundreds of partner integrations. The Mortgage Access product completes MeridianLink’s mortgage lending platform, delivering an end-to-end digital mortgage experience. Mortgage Access is the latest offering in a series of investments MeridianLink has made to further grow and improve its product offerings related to mortgage lending. In late 2022, MeridianLink acquired OpenClose™, an award-winning provider of residential mortgage software, to offer omnichannel mortgage solutions and leading POS capabilities that improve efficiency while reducing costs and time to close. In March 2023, both MeridianLink and OpenClose received a HousingWire Tech100 Mortgage Award in recognition of their best-in-class mortgage lending products. ABOUT MERIDIANLINK MeridianLink® powers digital lending and account opening for financial institutions and provides data verification solutions for consumer reporting agencies. MeridianLink’s scalable, cloud-based platforms help customers build deeper relationships with consumers through data-driven, personalized experiences across the entire lending life cycle. MeridianLink enables customers to accelerate revenue growth, reduce risk, and exceed consumer expectations through seamless digital experiences. Its partner marketplace supports hundreds of integrations for tailored innovation. For more than 20 years, MeridianLink has prioritized the democratization of lending for consumers, businesses, and communities.

Read More

POS Solutions

myPOS unveils Tap to Pay on iPhone for merchants in the UK

PR Newswire | October 19, 2023

UK-based payments company myPOS is introducing Tap to Pay on iPhone for businesses in the UK. Tap to Pay is available within the myPOS Glass app and allows merchants to accept contactless payments directly on their iPhone, with no additional hardware. "As global smartphone penetration and contactless adoption continue to spread, we want to ensure that even the smallest merchants have the technology to grow their sales," said Rob Hay, CEO of myPOS Payments Ltd. "With Tap to Pay on iPhone and myPOS Glass, business owners can start taking payments from anywhere – in the store or on the go. We are excited to simplify in-person payments by offering a fast and secure experience that increases mobility." Business owners are excited about the new solution as well. "With Tap to Pay on iPhone, I can be mobile. I download the myPOS Glass app and I can immediately accept payments on my own phone anywhere I am. It's easy for my customers and very flexible for me," said myPOS merchant Ahmed Saleh, owner of fast-food restaurant The Best Tasty Meal Corner. Another myPOS client, healthcare practitioner Asif Parpia at Otowax Removal, added: "Don't need hardware anymore; always wanted a secure way of accepting payments through my iPhone, so I am excited about the launch of myPOS Glass on iPhone." myPOS clients with compatible phones – iPhone XS or later – can accept contactless payments by downloading and opening the myPOS Glass app, ringing up the sale and presenting their iPhone to the customer. In return, the shopper needs only to tap a contactless payment method like Apple Pay, another digital wallet or a contactless card. Merchants new to the myPOS platform can start using Tap to Pay on iPhone with myPOS Glass after opening a myPOS account and going through online verification. What's more, by becoming a myPOS client, they will benefit from a free merchant account, a free business card and immediate deposits of all accepted payments at no extra cost. Tap to Pay on iPhone requires iOS 15.5 or later. No additional costs are applied to the merchant and no separate devices are needed. Additionally, all transactions are encrypted and secure. Business and customer payment data is safeguarded by the same technology that keeps Apple Pay private. So when a payment is processed, card numbers are not stored on the device, the myPOS app or on Apple servers. To take advantage, business owners can try out the myPOS Glass Starter plan, which allows merchants to pay only as they get paid. It comes with no upfront commitment, no fixed costs and the ability to cancel at any time. About myPOS myPOS is an innovative fintech company serving small and medium-sized business clients across the European Economic Area, Switzerland and the UK. It provides easy and convenient in-store, online and on-the-go payment solutions for more than 170,000 businesses in over 30 European countries. The myPOS platform gives micro businesses and SMEs everything they need to accept payments and manage various aspects of their business, including selling remotely, accelerating cash flow and enabling e-commerce. Business owners receive a free multicurrency merchant account and dedicated IBAN per currency, a business debit card, digitised business management capabilities, and a powerful platform to help them sell anywhere.

Read More

Events