A new partnership between Verifone (NYSE: PAY) and Paysafe will provide quick service for restaurants and small and medium-sized businesses across the United States with innovative payment solutions. Paysafe is a global provider of payment solutions while Verifone specializes in connecting payment devices to the cloud.
Paysafe and Verifone Team Up
As part of the agreement, Verifone says Paysafe will the first company to adopt Verifone Connect for use on its Carbon and Engage devices used by restaurants and small business retailers in the independent sales organization space. This will address the growing demand by small retailers for semi-integrated, cloud-based point of sale (POS) systems as they migrate away from traditional standalone terminals accepting only payments.
Small businesses are migrating to new POS and mobilePOS systems to accept digital wallets, Near field communication payments, loyalty programs with smartphones and other new payment technologies. The Verifone partnership with Paysafe brings these features to restaurants so customers can pay at the table, outside of the businesses and online, while supporting services merchants need.
Joe Mach, president of Verifone North America, explained the need to simplify POS systems for businesses. In a press release, Mach said, “As SMBs need more options and agile solutions to manage and grow their business, we are simplifying not just their payment needs but working with Paysafe to consolidate critical business apps such as customer and employee management and support into one solution.”
In addition to secure and adaptable, end-to-end solutions for accepting payments, these connected devices will allow businesses to engage with their customers. When paired with Carbon or Engage devices, Connect provides next-generation software and services.
The Engage line lets you interact with your customers by offering personalized content, individualized loyalty rewards and discounts, ability to pay with points and more. The open architecture platform makes POS systems into a rich two-way conversation solution across different mobile devices without compatibility issues.
The Growth of mPOS in Retail
Mobile point of sale has changed the retail experience for both customers and businesses. The checkout counter can now be anywhere in your restaurant or store allowing you to accept cashless payment options on the spot.
With more customers using their mobile devices to make payments, mobile point of sales solutions have become an expected option at brick and mortar businesses. The partnership between Verifone and Paysafe will make this possible with quick deployment and integration.
Image: Business Wire
It is about time that POS gadgets also get upgraded. It is about time they go mobile.
This is great. This is exactly what small businesses need. There’s no need for bulky POS.