Payworks has a Pulse—via a POS platform. Pulse is a cloud-based POS payment technology, accessible via open systems to developers, and available for merchants across a variety of industries. According to the following article, Pulse provides additional payment solutions for small and medium-sized businesses.
Pulse simplifies in-person card payments by making it quick, easy and cost-efficient for developers to integrate card readers into their Point of Sale solutions, both in stationary and mobile environments. Customers using a payment solution powered by Pulse are able to pay using the latest payment technology, including EMV Chip & PIN cards, contactless cards and mobile wallet payments such as Apple Pay, Android Pay and Google Pay.
With the exponential growth of eCommerce and mCommerce payments, the area of improving in-person payments was left untouched by payment technology providers, mostly due to the massive infrastructure changes required to upgrade outdated systems and the increasingly high security standards imposed by the card schemes. With Pulse, Payworks introduces an open, cloud-based payment processing infrastructure, which is open for innovation, easily accessible and pre-certified for developers and merchants.
Pulse is licensed by payment providers to satisfy the increasingly demanding needs of both their largest merchants, as well as small and medium sized businesses. Alongside Pulse, Payworks provides Accept and Engage as additional solutions. Accept is a complete white-labeled mobile POS solution, intended for payment providers wanting to offer an easy to use payment acceptance solution to small and medium-sized businesses, whereas Engage is Payworks’ analytics and customer engagement platform that brings the transparency of the online world, to the offline store.
POS platforms can be commodity items. The differentiating factors here are the business function integration and the customer intelligence features including analytics and marketing opportunities. The open systems aspect is a plus which should attract software developers to expand payment solutions. Payworks seems to have covered all the bases by including EMV technology and mobile wallet payment options. Now it’s up to payment providers and merchants to ramp up the installed base.
Overview by Raymond Pucci, Associate Director, Research Services at Mercator Advisory Group
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