First Data Corp. and Clover Network Inc. are collaborating on the Clover Station, a point of sale and business management system for merchants.
Clover Network is a subsidiary of First Data, but it operates autonomously of its parent company.
The vendors say their product combines the reliability of a payments terminal with the flexibility of cloud-based POS. It features and offline mode that can conduct transactions when the internet's down, and its MarketPlace app allows for integration of advanced POS and business software, the companies say in an Oct. 8 press release.
The system also helps merchants use customer data, stores tokenized data in the cloud and comes with "swivel arm" to differentiate between merchant and customer-facing positions, according to the release. The companies provide 24-hour access to live agents all year.
"Clover Station was thoughtfully designed to address all aspects of merchant-customer interaction from payment processing and analytics to marketing campaigns and loyalty management," Leonard Speiser, Clover's president, says in the release.
The companies are working with Bank of America Merchant Services to launch their product with small and medium-sized businesses this year.
"Bank of America Merchant Services has been proud to work extensively with the First Data team during the piloting and testing of this new point of sale system, developing the type of product our customers are demanding," says Brian Mooney, CEO of Bank of America Merchant Services, in the release.