Product: Genius Customer Engagement Platform
Company: Merchant Warehouse
When Boston-based ISO Merchant Warehouse released its Genius Customer Engagement Platform on a limited basis in 2012, POS developers and key industry players, including Apple Inc., VeriFone Inc., JVL Ventures LLC's Isis and LevelUp Inc., immediately integrated the product's patent-pending technology.
The platform aggregates evolving payment forms and technologies and links them with value-added programs to enhance the merchant-customer experience. Merchant Warehouse Co-Chief Executive Officer Henry Helgeson stated at the time, "Genius's cloud-architected model is the first industry innovation that finally brings unlimited choice, unified security and open access to merchants and POS developers to help grow their businesses."
The Genius application programming interface (API) is both device and operating system agnostic; supports Mac- and PC-based operating systems; and integrates with traditional hardware, tablet and other mobile POS devices. Once integrated, all subsequent updates occur seamlessly through the cloud, the company stated.
Widespread launch of the Genius platform is slated for early 2013. To coincide with the launch, Merchant Warehouse has since developed four merchant-specific products as part of its Genius Solution Suite. The first product, Genius ITX, is being touted as the ultimate mobile payment acceptance solution. ITX integrates directly with the merchant's POS system and is equipped to process near field communication, Europay/MasterCard/Visa, and quick response code payments; as well as manage gift, loyalty and reward programs.
Genius STX, designed for merchants without an integrated POS system, offers the same benefits as the ITX. The next product, Genius TX, is considered an entry point product for mobile merchants offering both traditional forms of payment acceptance and LevelUp's Interchange Zero mobile payment and commerce solution. Finally, Genius EX delivers a web-based solution that supports transactions done via POS terminal, smart phone or tablet.
"Merchants of all shapes and sizes are under increased pressure to adopt new mobile payment technologies and introduce or enhance their mobile gift, loyalty and reward offerings in order to attract new customers and expand relationships with their existing customer base," Helgeson noted. "These first four Genius solutions offer any customer an entry point into the world of mobile payments and mobile commerce."
According to Merchant Warehouse, merchants who configure VeriFone's Customer Engagement Device at the POS can enable customers to view payment options and merchant offerings during the transaction process. In terms of data security, Genius combines end-to-end encryption with tokenization to optimize PCI compliance and secure merchant data.
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