First Data, Microsoft and HP have brought together their payment solutions, store management software programs and retail-ready computer hardware in a small business point of sale solution.
The First Data POS Value Exchange replaces a cash register and traditional point of sale terminal with a computer-based system that delivers a complete store management solution with greater information security, speed of transactions and more flexible payment options for customers.
POS Value Exchange leverages the three companies’ core competencies: First Data’s payment processing power for virtually all forms of payment – from credit and debit to gift cards and checks; Microsoft Dynamics – Point of Sale 2.0 software from Microsoft designed to manage inventory, track sales and improve customer management; and a rugged, retail-specific point of sale hardware solution from HP. The solution will be offered by First Data, along with its participating alliance partners and independent sales organizations. Purchase and lease options will be available, with pricing set by the individual sales channels.
Specialty retailers will find that the system’s touch-screen display and ability to accept virtually all forms of payment will improve customer service and speed up transaction time. Retailers also will be able to track purchase behaviors and identify buying trends to improve inventory management and save valuable time.
First Data, Microsoft and HP believe that the product will have benefits for merchants and consumers alike.
“This single solution enables small merchants to have the power to manage their inventory, understand and track customer buying behavior and offer an enhanced consumer experience by accepting virtually all forms of payment – from credit, debit and gift cards to checks,” said Barry McCarthy, president of Product Innovation at First Data Commercial Services.
“This new solution will revolutionize the way small retailers do business and process payments,” said Mike Dickstein, general manager of Microsoft Dynamics at Microsoft. “Now small retailers using electronic cash registers and dial-up connections can easily convert to an affordable, integrated point of sale and payment processing system, and offer the same great customer service and payment options to their customers that the big box stores do.”
POS Value Exchange is designed for smaller retailers, typically with a single store location with up to five lanes.