On Tuesday (Oct. 24), AEVI and Vantiv announced news that they are coming together to offer Vantiv’s partners and clients access to an open application platform for point-of-sale (POS) terminals. The platform will extend across Vantiv’s SmartPay devices.
The arrangement will allow Vantiv’s small- and mid-sized merchants to benefit from increased functionality and versatility, the companies said. The new payment solution will have the security of next-generation smart terminals, and the application marketplace will be Android-based.
AEVI and Vantiv’s marketplace solution is the first to run on multiple hardware platforms, said the companies. Merchants will be able to customize their checkout experiences, enhance payroll management and introduce new loyalty programs through use of the application marketplace.
“By offering more choice through an open application platform, we can drive a simpler smart terminal solution to help our partners and merchants win in the market,” said Scott DeAngelo, SVP, Product, at Vantiv. “With this solution, we are placing our partners and merchants ahead of the curve — whether it’s through core software applications addressing specific POS needs, growing revenue through loyalty and analytics tools or protecting their bottom line with inventory and labor management tools.”
The collaboration with AEVI is the latest in a series of partnerships and acquisitions for the credit and debit processor, which acquired Worldpay in August. In September, Vantiv announced a partnership with Visa. Together, they debuted FastAccess Funding, which expedites settlement payouts for partnered merchants.
“We are very excited to partner with Vantiv,” said Mike Camerling of AEVI. “Our mission is to provide acquirers with their own marketplaces, making available their unique combination of business apps to deliver unprecedented value to merchants. By enabling third-party devices, we can initiate a new era of payments and business services in the U.S., based on even more choice and flexibility.”
The Vantiv/AEVI SmartPay checkout solution is expected to launch in select markets during Q1 2018.