Payment processor Vantiv and transaction hardware provider NCR have entered a strategic relationship to sell point of sale technology and payments products to the small-business market.
Their first release is the Vantiv Mobile Checkout powered by NCR Silver. The product includes inventory management, marketing and payments processing services, including cloud-based back office functions and hardware that enables a business to use iPads as a mobile point of sale terminal. The product is aimed at small stores and regional chains.
"Now with this new relationship, we will be able to quickly offer more small merchants powerful POS technology that balances affordability with critical functionality and mobility. Vantiv Mobile Checkout powered by NCR Silver is our first, joint effort as part of this new relationship," said Donald Boeding, president of merchant services at Vantiv, in a May 15 release.
Vantiv and NCR have lots of company in the space, as small business technology starts to mature. Half of small and medium sized businesses are considering moving to a tablet or mobile point of sale system, according to McKinsey and Company research cited in Vantiv and NCR's release. There are five million small or medium sized businesses in the U.S., according to the U.S. Census Bureau data the companies also cited.