Recent developments in the payment space confirm the U.S. shift to Europay, MasterCard and Visa (EMV) and Near Field Communication (NFC) — both expected to heighten overall security of contactless payment processing. As a result, retailers are seeking the most efficient ways to transition their POS hardware to accept these payment alternatives.
The Genius Customer Engagement Platform from Merchant Warehouse was designed to aggregate and integrate an array of transaction technology, payment types and customer programs into a single platform. All Genius software is pre-loaded onto VeriFone's MX 915 device, and is managed and accessed in the cloud. Genius will have limited availability in September 2012, and will be released to the general public by January 2013, according to a company announcement.
Through VeriFone hardware, re-branded as the Genius Customer Engagement Device (CED), retailers can operate and configure payment and program options, including traditional credit and debit cards as well as EMV, NFC, QR code and standard barcodes. Retailers also can integrate loyalty and rewards programs, and gift cards. Merchants can add new payment types and value-added features by downloading applications from the Genius Solutions Center.
"A key feature of the Genius platform is the Customer Engagement Device, which is a customer facing countertop display that provides complete flexibility and customization for the merchant," said Henry Helgeson, Co-CEO of Merchant Warehouse. "VeriFone was an obvious choice due to its leadership position in the mobile payments industry."
As a cloud-based solution, Genius was designed to offer retailers a single point of entry into the mobile space. Along with a variety of payment and loyalty program options, the platform is PCI-compliant, featuring end-to-end encryption to ensure that sensitive cardholder data is protected throughout all transactions.
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