The Genius for Retail solution will initially be available in the U.S. and will then launch in other geographies throughout the year, the worldwide provider of payment technology and software solutions said in a Tuesday (June 10) press release.
Genius for Retail helps retailers accept cards, mobile wallets, gift cards and other payment methods in-store and on the go, according to the release.
It also includes business management options that help with tasks like inventory management, employee scheduling and sales trend tracking; customer engagement features like promotions and customer profile management; and order-ahead capabilities that facilitate in-store or curbside pickup, per the release.
“This new POS offering for shops is an innovative command center with market-leading capabilities that do much more than just help manage a business,” Terry Roberts, president of merchant solutions at Global Payments, said in the release. “They optimize performance, helping to increase average ticket amounts, deliver real-time data to inform business decisions, manage staff more efficiently and more.”
The company plans to add retail configurations for businesses requiring age verification and for service businesses like beauty salons in the third and fourth quarters, according to the release.
Genius for Retail is the second of three such products Global Payments has designed for key verticals. Genius for Restaurants was launched in May, and Genius for Enterprise, which is designed for multi-location quick service restaurants, stadiums, venues and cafeterias, will be launched in the third quarter, the release said.
“The launch of Genius for Retail marks another important milestone as we focus our investments on delivering a single, feature rich and comprehensive POS platform to merchants globally,” Bob Cortopassi, president and COO at Global Payments, said in the release.
Software point-of-sale (SoftPOS) solutions are set to revolutionize how merchants of all sizes conduct transactions, according to the PYMNTS Intelligence and Discover Global Network collaboration, “How SoftPOS Is Poised to Revolutionize Payments.”
The report found that 71% of merchants believe SoftPOS will replace traditional terminals and that the number of merchants using SoftPOS is projected to soar from 6 million in 2022 to 34.5 million by 2027.
