Eye on POS: Global’s New Device for Genius; Toast Signs TGI Fridays

Global Payments Inc. said it has launched what it calls the payments industry’s first modular countertop point-of-sale device, aimed at retail stores and restaurants. The device, set for commercial rollout in December and tied into Global’s Genius processing platform, is aimed first at enterprise clients, followed by small businesses in the first quarter of next year, according to the Atlanta-based processor.

Global’s new POS device can feature dual screens, the company says, with one screen facing the customer and another merchant-facing, while offering a single-screen option as well, a modularity that allows merchants to adapt the device as they grow, the company says. Global says transaction speed remains fast in high-volume environments, making it suitable for stadiums or restaurants, markets that have attracted intense competition among rival processors in recent years.

Global positions the new POS technology as adaptable for businesses as they grow, eliminating the need to install new devices or systems to handle higher volumes. “Businesses don’t need to buy new equipment simply because their business is expanding,” notes Bob Cortopassi, Global’s president and chief operating officer, in a statement.

 The new device comes as Global places its chips on the success of its underlying Genius technology, which it launched in May. “In [point-of-sale] and software, our priority remains on Genius. Genius is resonating in the market,” Global’s chief executive, Cameron Bready, said during Global’s earnings call last week. The new POS tech also comes as Global prepares to absorb Worldpay, the major processor it paid $22.7 billion to acquire from FIS Inc.

In related news, the TGI Fridays restaurant chain has opted for Toast Inc.’s point-of-sale technology along with mobile order and pay and Toast handheld devices, as well as other products, Toast announced. TGI Fridays operates nearly 400 restaurants in close to 40 countries, though Tuesday’s deal is centered on the chain’s U.S. locations.

Toast’s deal with TGI Fridays involves the POS company’s mobile-order-and-pay technology as well as its Toast Go handheld devices. The deal also includes an option to add other tech, including kiosks, in the future.

Other Toast restaurant clients include Caribou Coffee, Potbelly Sandwich Shop, Nothing Bundt Cakes, and Costa Vida Fresh Mexican Grill. The company recently reported third-quarter revenue of $1.63 billion, up 25% year-over-year. It serves 156,000 locations around the world, having added approximately 7,500 in the September quarter.