Merchant Warehouse To Bring Lower Interchange Fees to Merchants Using MICROS-Retail Xstore™ Java POS
Retail payment processors look to save merchants up to 12% on transactions; will also add enhanced data protection through tokenization and SSL connections
BOSTON--(BUSINESS WIRE)--Merchant Warehouse®, a premier provider of merchant accounts and credit card processing solutions, today announced that it has integrated its MerchantWARE®BINsmart™ with the MICROS-Retail Xstore™ Java POS. With this integration, merchants will save up to 12 percent on interchange fees, as well as receive an out-of-the-box solution that incorporates a secure payment processing solution using tokenization and SSL connections.
“MICROS-Retail is a best-in-class provider of POS systems to the retail market”
Merchant Warehouse’s BINSmart™ helps merchants process transactions at the lowest possible cost by automatically identifying the card type being used in the transaction, and prompting debit card users to enter their PIN. This sophisticated, yet simple solution avoids Interchange rates and fees by opting for PIN-debit transactions over credit whenever possible. Interchange fees make up the majority of a merchant’s processing expenses, but since PIN-debit transactions are not processed on the Interchange networks, PIN-debit transactions are less expensive.
MICROS-Retail develops retail software solutions for both store and direct channels and provides point-of-sale and store management, eCommerce platforms, order management, loss prevention, sales audit, gift card and loyalty, CRM, merchandising and cross-channel solutions. Through this integration, once a transaction is run through the MICROS-Retail POS terminal, all sensitive credit card data is transported via an encrypted SSL connection to the Merchant Warehouse payment gateway where data is tokenized and returned to the POS for final transaction.
In addition to the improved savings and security, the integration with MICROS-Retail creates another opportunity for Merchant Warehouse to deliver its products and services to the small and mid-sized business retail industry. MICROS-Retail systems are currently installed in over 19,000 stores in 30 countries.
“MICROS-Retail is a best-in-class provider of POS systems to the retail market,” said Henry Helgeson, co-CEO of Merchant Warehouse. “I believe our MerchantWARE® and BINsmart integration with MICROS-Retail creates a wonderful product for the small to medium-sized retailer that requires minimal integration and support and delivers excellent cost savings. With Merchant Warehouse, the SMB retailer has a very powerful, easy-to-manage payment processing option that helps them best manage their costs and daily operations.”
About Merchant Warehouse
Since 1998, Merchant Warehouse has enabled merchants to process all forms of electronic payments including credit, PIN-debit, loyalty & gift cards, EBT and checks. The company continues to deliver competitive merchant account pricing, PA-DSS compliant solutions, and dedicated customer support to their merchants, partners and independent sales organizations. Merchant Warehouse leads the industry with innovative groundbreaking technology initiatives including: MerchantWARE®; BINsmart™; and MerchantWARE Mobile. Merchant Warehouse has been named theETA 2009 ISO of the Year, Business Solutions’ Best Channel Vendor for 2009 & 2010 and is a two-time recipient of the Boston Business Journal Pacesetter Award. Merchant Warehouse co-CEO, Henry Helgeson, was also named Ernst & Young Entrepreneur of the Year 2009 for New England. The company is committed to community and charitable involvement. For more information, please visit http://merchantwarehouse.com or follow us on Twitter at http://twitter.com/MWarehouse
About MICROS-Retail
MICROS-Retail, the retail solutions division of MICROS Systems Inc., is the leading provider of comprehensive, best in class solutions for the worldwide retail and direct markets, enabling merchants to deliver on the customer experience while optimizing operational efficiency across all channels. MICROS-Retail offers a full suite of solutions in a choice of deployment options. Java technology, rich functionality, support flexibility and successful experience in demanding environments explain why hundreds of retailers around the world rely on MICROS-Retail to strengthen their businesses and deliver results. MICROS-Retail solutions are installed in over 19,000 stores in 30 countries. MICROS-Retail analytic solutions process data at a corporate level for an additional 60,000 stores. MICROS-Retail customers include over 340 premier companies such as Aéropostale, Barneys New York, The Finish Line, IKEA, Roots Canada, Chico’s, Carlton Cards Retail, The Limited, Nike Retail, Payless ShoeSource, Polo Ralph Lauren, Bare Escentuals, Tween Brands, Staples, Starbucks Coffee, Comercial Mexicana, Talbots, Guess, Peruvian Connection, Omaha Steaks, and Timberland.
