RMS launch Integrated Payments with SmartBridge™

Milton Keynes, UK (6th of August 2020) – Retail Merchant Services have released cloud-based software SmartBridge™, to offer an integrated payments solution to their merchants and other small business owners.

The software allows the user to create a wireless connection between the separate channels of payment (e.g. online and card machine) and point of sale systems used within their business.

SmartBridge™ looks to solve the negative idiosyncrasies caused by a lack of data sharing between devices and platforms seen in small businesses that don't communicate with each other.

Creating a ‘closed data loop’ with integrated payments can ultimately save time and money for small business owners, by minimising human error, consolidating previously separate reports and maximising the use of third-party applications.

Quick links

→ What are Integrated Payments?
→ What are the benefits of Integrated Payments?
→ What is CounterPay?
→ What is TablePay?

What are Integrated Payments?

The term ‘Integrated Payments’ is when a piece of cloud-based software is used to build a series of wireless links between the devices and platforms used within a business to accept payments and manage point of sale.

The main benefit of this, is to allow the separate channels to communicate, share captured data and form one, consolidated report. This gives the business owner an accurate source to analyse performance, make informed decisions and mitigate any errors or inefficiencies caused by manually combining separate data streams.

An integrated setup will connect any means of taking payment within your business, such as card machines, ePOS systems and online payment gateways. When the data is captured from card transactions, it can be attributed to other operational processes managed by your ePOS system.

For example, you may have a live accountancy application that recognises stock purchases and other outgoings in your business. By integrating your card payments, these will automatically reconcile within that report and fill in the gaps that would normally need to be calculated outside of the platform.

SmartBridge™ gives SMEs two main methods of integrating payments, CounterPay and TablePay, which mainly serve the retail and hospitality industries, but it also has scope to integrate smartphones (e.g. via pay-by-link) and online payment gateways for businesses with a combined in-store and online presence.

Learn more

What are the benefits of Integrated Payments?

• Save time by automating manual processes

  
  At a basic level, you and your employees will no longer need to manually input transactional information into separate platforms. The result of key operations between devices will be shared through SmartBridge™, syncing all financial data in real-time. That can benefit short-term operations such as reducing queue times in-store or being able to close off tables during a busy lunch period. Meanwhile, longer-term tasks like analysing business performance will be much slicker without having to cross-reference multiple reports.
  
  
  

• Reduce human error and improve security

  
  For example, when the handover of transactional data from card machine to ePOS system is automatic and accurate, this greatly reduces the potential for human error in the day-to-day management of incoming payments, such as mis-keyed information, calculation errors and double transactions. You can save money that has been previously written-off because of unbalanced reporting between devices and software.
  
  Additionally, having an integrated payments system can improve the level of security and close the gap in protection caused by manual communication between business platforms and thereby mitigating the likelihood of fraud and data breaches.

Learn more

What is CounterPay?

'CounterPay' is the default integration method of SmartBridge™. It is typically used by retail shops, hairdressers, coffee shops and any other businesses using ePOS at a fixed sales point, such as a sales desk or deli counter.

Once the customer has placed their order at the counter, the merchant will make their selection on the ePOS system interface, where predefined values for that product already exist, including the price. This information is passed to the card machine using SmartBridge™ and the sale amount populates on the screen, prompting the customer to make their card payment. Once the sale is processed, the data is sent back to the ePOS system via the cloud and will consolidate in a holistic report.

When your ePOS system and card machine are exchanging data in this way and automating previously manual tasks, it speeds up the end-to-end ordering time for each customer. Subsequent customers will be served faster, queues will shorten and most importantly, no money will be lost through human error.

What is TablePay?

'TablePay' is perfect for businesses already using an ePOS system to organise table plans, such as restaurants, pubs, hotels and cafes. SmartBridge™ builds a wireless connection between the ePOS system and fleet of portable card machines used by the waiting staff at various locations on the premises.

Settling the bill can be completed within one visit to the customers’ table. The server begins by selecting the table number from a list of open tables displayed on the card machine. From here, they can print an itemised bill directly from the card machine for the guests to review. The table has the option to split the bill by person, by couple or by a specific amount. Each person will pay until the total value is met. Once a split receipt is printed, the card machine will automatically signal to the ePOS system that the cover has been closed. The table number will now appear as available on the table plan, ready for the next customers to arrive.

Learn more

Sunil Peenikal, Chief Technology Officer at RMS said: “We [Retail Merchant Services] recognise that for some businesses, it is simply not enough to have a static card machine without any input into dynamic reporting. Our merchants are investing more and more into third party applications driven by their ePOS, in order to gain critical business intelligence. As a champion of small businesses, we also want to support this integrated way of thinking and encourage the compatibility of our products with others and close the loop in reporting. That’s why we’re so excited to announce the launch of SmartBridge™.”

About Retail Merchant Services

Retail Merchant Services provide thousands of small to medium-sized businesses across the UK and Ireland with reliable, secure and tech-driven payment solutions to help them accept card payments, grow their businesses and retain more customers. Founded in 2007, the company was acquired in 2017 by TCV, one of the largest growth equity investors in the technology industry.

Retail Merchant Services provide a host of products and services to help small business owners, including: credit and debit card machines with Same Day Settlement, EPOS systems, Merchant Cash Advance, E-commerce Gateways, Pay by Link & Virtual Terminals.

“We’re on a mission to make customers’ lives easier. We pride ourselves on delivering at pace and keeping our heads up when it comes to customer needs. Staying restless for improvement and being customer obsessed is the cornerstone of our business; and we invite our customers to tell us if we fall short.”

Media contact

Joe Winyard, Marketing Manager | Retail Merchant Services