Vantiv just announced a cloud version of their POS application platform. According to the following release, independent software vendors will have more flexibility to embed payment processing features for merchants.
CINCINNATI, Jan. 12, 2017 /PRNewswire/ — Vantiv Integrated Payments, a Vantiv company (VNTV), and a provider of payments technology and processing services for small and medium-sized businesses (SMBs), today launched triPOS Cloud, an extension of the triPOS product line. Now equipped for every use case, independent software vendors (ISVs) who create innovative point-of-sale solutions can integrate to Vantiv via the cloud or a native application. Vantiv will be demonstrating the triPOS product line at the Vantiv booth (#4211) during the National Retail Federation (NRF) show in New York City, Jan. 15-17, 2017.
“Cloud-based payments applications are growing rapidly, whether it’s an add-on application to solve for omnichannel or a standalone solution, we have a large demand from current and prospective developers to solve this important need,” said Matt Downs, head of channel and business development, Integrated Payments at Vantiv. “triPOS solves this by managing payment devices from the cloud. We believe this presents a great opportunity to single source innovation and payment acquiring for developers, thereby making their lives easier.”
Built on a sleek RESTful API to simplify the payments development experience, triPOS Cloud offers seamless software updates to ensure the business always has the latest application. It is designed to ease the merchant installation with a “plug-in-and-pay” process and an exceptional consumer checkout experience, with immersive high-end EMV PCI P2PE validated PIN pads. As new functionality, payment device support, transaction types and gateway capabilities are added to the Express Interface, the triPOS product line easily delivers these enhancements to the in-store solution.
Merchant acquirers depend on software developers and value added resellers to make the POS payments more than just a commodity-type transaction. They can differentiate from their competition. Merchants need integrated payment functionality to help them run their businesses in areas such as inventory management, customer intelligence, and financial reporting. The acquirers will gain stickier customer relationships as they provide more added value services to merchants—and see higher margins as well.
Overview by Raymond Pucci, Associate Director, Research Services at Mercator Advisory Group
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