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Computop launches Cloud POS Interface for stores with multiple locations

Thursday 3 November 2022 12:17 CET | News

Payment service provider Computop has launched the Cloud POS Interface for physical stores and operations with multiple locations or checkout points.

 

The Cloud POS Interface will allow retailers to operate card terminals from any web-based ERP, store, or POS system through the Computop Paygate. Because it allows retailers to connect to POS terminals via the cloud, the system eliminates the need for the ZVT/OPI interface in the cash register to facilitate card payments. 

When a payment request is received, the Computop Paygate transfers it to a cloud-based terminal server which identifies and addresses the correct terminal. The terminal can still reside in the same local network as the initiator system, but the transaction process is no longer triggered by the cashier system software, but by the terminal server at Computop. 

Another functionality of Cloud POS is that it allows its terminals to be operated via a SIM card. If there’s an instance when a terminal is not connected to Cloud POS through a LAN or WiFi connection, retailers can use a SIM card to connect to the cashier system. 

According to financialit.net, the launch of Cloud POS comes at a time when the rapid growth in pop-up stores and doorstep deliveries prompts companies to look for payment solutions that support mobile use cases, as well as faster and more flexible points of sale in established stores. 

Computop officials cited by the same source revealed that there are immediate benefits for retailers when it comes to the savings they can make on purchasing and maintaining traditional POS interfaces. They also stated that Cloud POS is well-suited for omnichannel-based, customer-facing services that are location-independent. 

 

Payment service provider Computop has launched the Cloud POS Interface for physical stores and operations with multiple locations or checkout points.

 

Cloud Point of Sale (POS) Market size and growth

According to gminsights.com, the Cloud Point of Sale (POS) Market size surpassed USD 3 billion in 2021 and is projected to expand at over 20% CAGR from 2022 to 2028. The same source suggests that the main driver behind this industry growth is likely the surge in the utilization of online food delivery services. 

To ensure strong business growth, the market players are implementing cloud POS solutions to gain operational scalability and flexibility offered by cloud computing technology. The change in consumer habits has accelerated the deployment of cloud POS solutions that enable fast monetary transactions across retail, restaurants, entertainment, healthcare, and hospitality sectors, which in turn create opportunities for market growth.
 

Computop's partnership with Token 

In October 2022, Computop joined up with Open Banking payments platform Token. Using Token’s Open Banking connectivity and platform, Computop can enable account-to-account (A2A) payments for ecommerce merchants, white-label partners, and resellers using its Paygate platform. 

Token is an Open Banking enabler for the payments industry. It offers broad Open Banking connectivity in the UK and Europe, providing a simple way for payment service providers (PSP), gateways, and acquirers to launch and manage A2A payment propositions. 

For more information about Computop, please check out their detailed profile in our dedicated, industry-specific Company Database.


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Keywords: POS, product launch, merchants, payment processing
Categories: Payments & Commerce
Companies: Computop
Countries: Germany
This article is part of category

Payments & Commerce

Computop

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