App-based technology for point-of-sale transactions has been a preserve of POS system providers like Square and Clover, but now smaller independent sales organizations are looking for a piece of that growing pie. Early Thursday, VizyPay LLC announced VizyPOS, an app that can control such functions as cash discounting and real-time reporting on merchandise sales, in addition to payment acceptance. The app works with handheld POS devices from Pax Technology Inc.
The idea behind the app, which is free to merchants, is to bring more sophisticated data analytics to the small sellers typically served by ISOs. “We wanted a holistic solution right out of the gate that provided well-rounded capabilities for our partners,” said Dang Saengchanpheng, director of fintech development and data analytics at West Des Moines, Iowa-based VizyPay, in a statement. “While the Pax App Market currently offers other payment processing options, we built our solution to offer more advanced capabilities.”
The app’s strength, he says, lies in its reporting capabilities. Merchants can begin entering data on their entire inventory as soon as they download the app, VizyPay says. They can also manage the data from a supplementary Web portal. “We wanted to go above and beyond with the reporting features,” Saengchanpheng said. “Merchants can now easily see key insights including their top revenue-generating products and services, real-time batch reporting and more.” Such reporting “has never been readily available before” to small merchants, he said.
One of the app’s key function is the ability to process discounts for cash, a highly popular feature that can now be deployed in 47 states, with a federal judge in February having struck down a cash-discount ban in Kansas. As things stand, only Colorado, Connecticut, and Massachusetts maintain outright cash-discount bans on their books.
Ironically, VizyPay last June launched a cash-discount app for Fiserv Inc.’s Clover line. The app, which appeared on the Clover app market, was an extension of VizyPay’s existing cash-discount program.
Now, 4-year-old VizyPay has “big plans” for the new VizyPOS app, according to Kyle McCann, director of business development. “Our long-term goal is to create an ecosystem, where everything can be managed from payment processing to employee payroll,” he said in a statement.