Main Street merchants have different needs than big retail chains especially when it comes to POS payment systems. As the following Business Wire item reports, merchant acquirer TSYS has launched a new set of POS solutions targeted to small and medium businesses.
TSYS today announced the launch of Vital®, a new brand of payment products designed to help small and medium-sized businesses run more easily and efficiently. Vital is also available to be white-labeled by TSYS partners.
The Vital brand’s initial offering includes Vital POS, a full-featured, cloud-based point-of-sale solution. Vital POS is made up of three products designed with various functions for businesses of different sizes – all built on the same back office software, enabling a single access point across all products.
- Vital Mobileis for mobile merchants seeking a fast, affordable and easy-to-set-up payment acceptance platform.
- Vital Plusoffers an ideal replacement for countertop payment terminals and electronic cash registers.
- Vital Selectprovides business owners who have one or more brick-and-mortar locations with a powerful, full-featured POS system, as well as peripherals to address additional business needs.
All three products feature tools that free up business owners to spend less time on administration and focus more on what they love about their business. These back-office features include: robust analytics and reporting, inventory management, taxes, time-clock and employee management, discounts and pricing functionality and more.
Philip McHugh, senior executive vice president and president, Merchant Solutions, TSYS, said Vital POS goes above and beyond point-of-sale efficiency.
Smaller merchants have gravitated to easy-to-use, integrated POS systems with mobile capabilities, ever since Square came on the payments scene. First Data then followed with the Clover device portfolio that recently sold its one millionth device. Now TSYS, which already has a large SMB merchant client base, is providing another option. The key to mobile and flexible POS solutions is that they have to be about more than just the payment transaction. Legacy merchant acquirers are finding that providing management and operational tools along with payment transactions will create more long-term client relationships, necessary in an industry faced with the challenges of merchant account churn.
Overview by Raymond Pucci, Director, Merchant Services at Mercator Advisory Group