Banking-as-a-Service (BaaS) and payment solutions leader Priority unveiled MXMTM POS, a new point-of-sale (POS) technology to revolutionize the modern commerce and embedded finance experience for the retail, restaurant, and other businesses it serves, at ETA Transact in April 2023. A few months later, we checked in with Priority Chairman and CEO Thomas Priore for a post-launch review of MXM POS.
“We introduced MXM POS as an innovative point-of-sale solution developed under the leadership of the Priority team. It leverages Priority’s strong technology stack to bring a higher level of innovation to more businesses nationwide. MXM POS offers distinct features and benefits not commonly found in traditional point-of-sales systems that provide merchants, restaurants, and beyond with robust services and solutions. We are seeing more customers embrace and appreciate this new technology,” said Thomas Priore.
Thomas Priore added, “Business owners today face many challenges, but accepting and making payment transactions can be one of the biggest hurdles to business success. Implementing MXM POS means businesses get an intuitive, easy-to-use POS for their front and back-of-house operations, coupled with world-class payments and banking infrastructure powered by our MX Merchant and Passport platforms. There’s great synergy in these combined technologies that we don’t see in the competitive landscape. MXM POS ensures businesses run smoothly and profitably, in-store or online.”
For restaurants, Thomas Priore explained that MXM POS simplifies the ordering process for table-side and self-ordering through its unique feature set. “It accelerates checkout and enables multiple split checks through a user-friendly, customizable menu design. MXM POS also helps restaurants manage tickets, track order history, and handle refunds and returns with real-time reporting,” said Priore.
For retailers and other businesses, Priore said, “MXM POS delivers the major features, integrations, and tools that retail businesses need to manage one or multiple locations. MXM POS streamlines the checkout process with features tailored for merchants like quick barcode scanning, customizable menus, inventory management, and the ability to select and sort items in preferred order.”
Full Integrations for a Total Business Solution
Automation and integration tools can increase efficiency and productivity as more businesses optimize their operations, and some seek ways to do more with less staff. Understanding the critical challenges facing businesses, Priority designed the MXM POS to integrate with the applications and software businesses already use.
Priore shared, “MXM POS integrates seamlessly with Priority’s online ordering portal E|tab, which allows businesses to create a branded online ordering and user experience. It also integrates with accounting systems to synchronize sales, stock, inventory, and product data at the end of each day or in real time. This provides significant time savings and enhanced accuracy for business operations.”
Priore also states, “For gift card and loyalty management, MXM POS provides full gift card functionality through partnerships with third-party providers like Factor4 and GiftYa, and its loyalty program links customer profiles to a built-in rewards module that lets customers earn and redeem points. These are other value-added integrations that help strengthen businesses.”
Through Priority’s partnership and seamless integration with Wix, a company that provides cloud-based web development services for new and existing customers, businesses can build a custom e-commerce platform with minimal effort. For businesses without an existing online presence, these solutions and partnerships help modernize their commerce experience, reach more customers, and ultimately result in higher growth than companies without an online presence.
Furthermore, when combined with Priority’s best-in-class payments and banking technology powered by MX™ Merchant and Passport, these features and integrations make for an all-in-one solution for businesses of any size to power their operations, placing Priority as a company to watch for payments and banking services that go beyond to help businesses grow and thrive.
Valuable Sales Insights and Best-in-Class Analytics
Thomas Priore said, “We built MXM POS not just as an innovative business payments and operations solution. It is purpose-built to provide valuable insights that will help organizations grow.
“From providing a seamless, convenient customer payment experience in-store and online to immediately tracking those orders, or receiving valuable sales insights via best-in-class analytic reporting technology, when it comes to payment solutions, MXM POS is adaptable,” Priore continued. “The API-driven, cloud-based MXM POS offers two comprehensive platforms for restaurant and retail applications, each designed to deliver customizable, highly efficient payment solutions that enhance business performance.”
Thomas Priore concluded, “MXM POS has the versatility to match and support any business’s unique needs, whether a business is a mom-and-pop shop or a large-scale retailer. We encourage business owners to learn what’s available from Priority as we are setting out to mitigate their challenges with the solutions and resources that support businesses of all sizes.”
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