TSYS Launches Vital Brand, Unrivaled New Point-of-Sale Product Suite for SMBs
January 10, 2019 at 02:30 pm
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TSYS announced the launch of Vital®, a new brand of payment products designed to help small and medium-sized businesses run more easily and efficiently. Vital is also available to be white-labeled by TSYS partners. The Vital brand’s initial offering includes Vital POS, a full-featured, cloud-based point-of-sale solution. Vital POS is made up of three products designed with various functions for businesses of different sizes" all built on the same back office software, enabling a single access point across all products. Vital Mobile is for mobile merchants seeking a fast, affordable and easy-to-set-up payment acceptance platform. The product runs on a business owner’s mobile phone or tablet with an inexpensive EMV card reader. Vital Plus offers an ideal replacement for countertop payment terminals and electronic cash registers. This product is intended for merchants that are busier and bigger than those using their personal mobile devices and desire more control and reporting than their existing terminal offers. Vital Select provides business owners who have one or more brick-and-mortar locations with a powerful, full-featured POS system, as well as peripherals to address additional business needs. Vital Select includes more robust functionality in such areas as discounts, pricing and inventory management. All three products feature tools that free up business owners to spend less time on administration and focus more on what they love about their business. These back-office features include: robust analytics and reporting, inventory management, taxes, time-clock and employee management, discounts and pricing functionality and more.
Total System Services specializes in providing electronic payment processing and related services to financial and non-financial institutions. Net sales break down by activity as follows:
- electronic payment processing services (46.4);
- merchant acquiring services (33.6%): authorizing and capturing electronic payments at the point of sale, clearing and settling merchant transactions, managing merchant terminals, and providing information management services to help acquirers effectively manage and grow their merchant portfolios. The group also provides risk management tools (credit evaluation, fraud detection and prevention and behavior analysis tools) and revenue enhancement tools and customer retention programs (loyalty programs and bonus rewards);
- sale of prepaid payment cards (20%; NetSpend).
Net sales are distributed geographically as follows: the United States (80.4%), Europe (9.3%), Canada (8.1%) and other (2.2%).