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ISO Readies Vendor For Great Unknown

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LightSpeed Retail Inc. is integrating the Genius Customer Engagement Device into its online point-of-sale systems to help retailers prepare for the payments industry’s uncertain future.

Exactly what twists and turns lie ahead remains unclear as the industry switches from magnetic stripe cards to EMV chip cards. Meanwhile, no one knows which of today’s competing technologies will dominate mobile payments.

But the Genius platform takes all that into account, according to an Oct. 18 press release from Merchant Warehouse Inc., the Boston-based independent sales organization that developed the system.

Merchant Warehouse calls the Genius system “future-proof” because the platform resides in the cloud, thus enabling the ISO to alter it as changes occur in the payments business.

"As the options for Mobile Commerce proliferate, merchants are increasingly facing the challenge of trying to predict the winning solution," Dax Dasilva, LightSpeed CEO, said in the release. "Our integration with Merchant Warehouse's Genius platform allows Merchants to know that they have a future-proof option, capable of integrating with whatever solution they will eventually want to select."

Using the system, merchants choose the payment types they want to offer, and the system automatically equips their online POS systems for acceptance, the release said.

“Genius' cloud-architected model is the first industry innovation that finally brings unlimited choice, unified security and open access to merchants and POS developers to help grow their business," Henry Helgeson, Merchant Warehouse CEO, said in the release.

 

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ISOs and agents are learning the power of merchant cash advances for differentiation, profit and retention. We explore that potential in this issue and also offer advice on whether to offer merchants an advance or a loan. Meanwhile, we look into vending machines as an opportunity for ISOs and conduct an inquiries into how ISOs and agents can nudge retailers toward data security. Last but not least, we urge ISOs to keep up with technology so that they can keep their clients informed.
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