The news: Global Payments released a modular, countertop point-of-sale (POS) platform for Genius to serve merchants of all sizes, per a press release.
The platform can run as a countertop device, customer-facing display or kiosk, or a wall mount.
This launch follows Global Payments’ June rollout of Genius retail POS solution.
Zooming out: Payment providers have felt pain as consumers react to looming economic uncertainty, driving down sales across all products.
Competition within the industry has been fierce, as each player has been looking to lead on POS software to get ahead. Ongoing industry consolidations will likely continue, as companies look to get an edge on scale and integrated offerings.
Our take: Launching flexible devices could help lure back merchants looking for value, especially SMBs hoping to slowly build out their POS base platform as they grow.
However, economic uncertainty is tamping down consumer spending—and hitting hardest the small- and medium-sized businesses that are most likely to seek out modular solutions. Pairing AI software solutions with customizable POS platforms could help entice merchants that want to automate the busywork from their businesses and reclaim time for critical tasks.