The system aims to help small business owners streamline their operations and enhance customer payment experiences, the company said in a Wednesday (Aug. 30) press release. With various hardware options available, including mobile/fixed hardware and in-store terminals, businesses can choose the setup that best suits their needs.
The talech Terminal payment solution offers business owners a POS system that enables them to accept payments anytime, anywhere, according to the release. This flexibility allows for greater convenience and efficiency in managing customer transactions.
“Our goal is to enable small business owners to focus on what they do best, eliminating the burden of managing customer payments,” Elavon Chief Product Officer Pari Sawant said in the release. “This solution is a perfect option for business owners who value their privacy and prefer not to mix their personal mobile phones for customer transactions.”
The solution also eliminates the need for a large upfront investment in a new payments system, which is particularly advantageous for small businesses with limited resources, the release said.
The talech Terminal offers various features to support business operations, according to the release. These include credit card surcharge capabilities, inventory management functionalities and employee management support.
“Terminal goes beyond basic payment acceptance and allows businesses to run their business in a simple, elegant form factor,” Joy Ghanekar, chief product officer of talech, said in the release.
PYMNTS research found that merchants are expanding their digital capabilities to accommodate changes in consumer behavior. More than 75% of merchants said consumers would be at least very likely to switch merchants because retailers are not providing enough modern capabilities, including alternative payment methods, in stores, according to “Merchants Need Modern Payment Systems to Meet Customer Demand,” a PYMNTS and American Express collaboration.
U.S. Bank acquired talech, which was a software company offering an integrated POS system for small- to medium-sized businesses (SMBs), in 2019, saying the purchase was one of several ways that U.S. Bank was boosting its digital expertise to provide better service to its customers.