Priority Technology Debuts MX Point of Sale System

Payments technology firm Priority Technology is set to debut a new point-of-sale (POS) system.

The company announced in a news release Monday (April 24) that it will unveil its MX POS at this year’s Transact conference, taking place April 24-26 in Atlanta.

“Business owners today are faced with many challenges, but how, when, and where they accept and make customers’ payment transactions is oftentimes the biggest hurdle to business success,” Priority Senior Vice President of Sales Joseph Harrington said in the release.

“With MX POS, we used our industry insights and our vision of the future of payments to create a system that offers distinct features and benefits. We took what many merchants are used to and designed a fundamentally better system.”

Harrington adds that by running all orders through this all-in-one POS system, merchants will save time and money by quickly completing eCommerce transactions and accessing support for front and back-office operations.

According to the release, the MX system supports restaurants, retailers and other merchants in need of POS solutions to enhance their businesses. The API-driven system supports DoorDash, GrubHub and UberEats, as well as Xero and QuickBooks.

“In today’s challenging economic climate, small to medium-sized businesses remain vital contributors to local economies, the jobs market, and the US GDP,” Priority CEO Thomas Priore said in the release.

“Priority is focused on delivering a combination of payments and banking solutions that help SMBs succeed by accelerating cash flow and optimizing their performance.”

PYMNTS spoke with Priore in February about some of the challenges facing small and medium-sized businesses (SMBs): not just rising interest rates and the growing debt burden weighing on end consumers, but the ongoing push/pull between buyers and suppliers.

The result is that cash flow becomes less than transparent, leading to operational uncertainties, Priore told PYMNTS’ Karen Webster.

“We’re seeing the tension,” he said, “of who’s maintaining margin and who’s getting squeezed.”

Working capital is vital to any company, particularly SMBs who lately have found themselves shut out of traditional avenues of capital access, including banks. It’s going to become harder than any time in recent memory to operate a small business, Priore predicted.

Still, at their core, he said, SMBs and the people who run them are a resourceful lot.

“They’re scrappy,” said Priore, “and there’s a reason why small business, in the U.S., is more than 50% of GDP.”