Last October, AEVI and Vantiv, announced their partnership in the US with the SmartPay Series available to Independent Sales Organization and Financial Institutions offering merchant payment services in the United States.
Six months down the line, Vantiv, now Worldpay, has added a new device to its line of SmartPay Series payment terminals. The handheld PAX A920 joins the Verifone Carbon 8 and Carbon 10 in a suite of AEVI-enabled Smart Point of Sale (SmartPOS) devices now being offered to Worldpay’s retail and restaurant merchants. AEVI’s suite of products and services empowers the bank to offer merchants real choice – choice of device form factors, choice of app content and choice of app configurations.
The news that even more terminals are joining the SmartPay Series is music to the ears of merchants as they look for innovative ways to improve the customer experience, and generate new revenue streams. The AEVI marketplace is the central platform that binds together the choice of both hardware and software, enabling banks to pick and mix the perfect customized solution for their merchants.
The growing ecosystem of SmartPOS terminals and software applications running on AEVI’s platform gives Worldpay’s merchants the flexibility to select from a range of payment solutions that best suit the needs of their individual businesses, and meet the increasing demands of consumers.
Let’s look at the three ways the partnership is helping Worldpay’s merchants expand their opportunities and enhance their point of sale.
Going Beyond Payments
AEVI and Worldpay’s partnership is enabling merchants to go beyond payments at the point of sale with specially curated value-added apps and services tailored to optimize the POS experience for retailers and restaurants. Through a marketplace approach acquirers can now bundle pre-selected apps to match different segments of their merchant base. Application bundles feature a selection of apps and services such as POS, employee management and scheduling, loyalty, inventory capabilities and more, to create greater business value beyond payments. Each new function helps drive further growth and customer retention by offering a dynamic customer experience that meets the demands of the modern consumer. The perfect combination of software applications and devices makes the solution powerful.
Providing A Common User Experience
AEVI’s platform allows Worldpay to run value-added apps and services across a choice of multi-vendor devices, creating a universal user experience regardless of the payment terminal being used. The content must be distributed effectively, and doing so requires a global ecosystem – one that is device-agnostic and connects both bank and merchants to a worldwide community of app developers. AEVI’s ecosystem provides this single experience, thanks to its device-agnostic software development kit (SDK), which enables content to function consistently across all connected 3rd party devices.
Saving Merchants Money and Creating New Revenue Streams
Merchants are constantly looking for ways to streamline their processes, maximize profits and run a more efficient business. A growing suite of SmartPOS terminals with the right set of App bundles means retailers have a perfect line-busting tool that reduces wait times and significantly improves the checkout experience for customers. Restaurants can use the apps and services to create a pay-at-table culture and upsell through smart loyalty and POS applications. Merchant Acquirers become more flexible and add a series of value-added apps and services on top of their payment offering to create new business models and revenue streams.
“From the outset, we’ve sought to deliver unique flexibility and choice to merchants, and by enabling the PAX A920 to our app marketplace, we continue to do just that. We will continue to work with Worldpay to deploy our platform on more devices and provide even more business applications to further meet the needs of businesses in this changing payments landscape” Mike Camerling, CEO at AEVI.
The AEVI model allows for any number of apps, with each app compatible with any number of SmartPOS devices. It’s a vision that is already galvanizing app developers, excited by the prospect of coding once and getting access to a whole range of AEVI-enabled device form factors.
AEVI believes that through openness and value-added apps and services it is creating future-proof opportunities and solutions that enable banks and acquirers to get closer to their merchants, while at the same time empowering merchants to meet the changing demands and habits of their customers.