Boston-based independent sales organization Merchant Warehouse is launching its Genius payment acceptance product for general availability. The system has been in testing since June 2012.
The cloud-based technology allows merchants to accept any payment method, including vendor gift, loyalty and promotional programs, and automatically equips their online point of sale systems.
“The Genius platform has reinvented how the point-of-sale system connects into the payments world,” says Henry Helgeson, CEO of Merchant Warehouse. “It takes the friction out of the change [in the industry] we’re seeing.”
South Bend Brew Werks adopted the Genius platform because of its ability to grow and change with them. The company, which provides home-brewing supplies and equipment, started using Genius in November.
“Genius is a thoughtful, integrated solution that helps me feel secure that I won’t incur additional expense in order to keep up with customers’ changing payment tastes,” says Andrew Elegante, owner of South Bend Brew Werks. ”Looking to the future, the platform will allow us to present our customers with targeted rewards, turning what could just be a device at our register into a powerful marketing and loyalty platform.”
Elegante also says the device looks “smexy” – a portmanteau of smart and sexy – on the retailer’s countertop.
Merchant Warehouse keeps an outlook on the future as well, designing the product to be easily updated for mobile payments.
For example, shortly after Apple released its limited mobile wallet, Passbook, Merchant Warehouse announced its acceptance on Genius. Merchant Warehouse also updated its payment choices to incorporate LevelUp's payment system, which uses quick-response (QR) codes, in November 2012.
“Merchants are going to want to accept multiple wallets,” says Helgeson. “There’s quite a few players that have a number of users … so our merchants are wanting to advertise and send offers to multiple wallets and multiple payment types.”
The ISO also supports EMV chip-card payments, preparing for wider U.S. adoption of the EMV standard in 2015.