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. Several months later, we caught up with Thomas Priore, the Chairman and CEO of Priority, to conduct a post-launch evaluation of MXM POS.
“We introduced MXM POS as an innovative point-of-sale solution developed under the leadership of the Priority team. It utilizes Priority’s robust technology infrastructure to introduce a greater degree of innovation to a broader range of businesses across the country. 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. Thomas Priore remarked, “We’re witnessing an increasing number of customers embracing and valuing this innovative technology.”
Thomas Priore further stated, “Present-day business owners encounter numerous obstacles, and accepting and processing payment transactions can often be among the most significant challenges to achieving 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. Thomas Priore highlighted, “The fusion of these integrated technologies offers an unparalleled level of synergy that sets us apart from competitors. MXM POS guarantees seamless and profitable operations for businesses, whether they are operating in physical stores or online.”
Regarding its application in restaurants, Thomas Priore elaborated that MXM POS streamlines the ordering experience, both for table-side service and self-ordering, thanks to its distinctive feature set.
“It accelerates checkout and enables multiple split checks through a user-friendly, customizable menu design. Priore stated, “MXM POS also aids restaurants in efficiently overseeing tickets, monitoring order history, and managing refunds and returns through real-time reporting.”
For retailers and other businesses, Priore said, “MXM POS simplifies the checkout procedure by offering features specifically designed for merchants, such as rapid barcode scanning, customizable menus, inventory management, and the capability to choose and arrange items in a 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 seamlessly integrates with Priority’s E|tab online ordering portal, enabling businesses to create a branded online ordering and user experience. It also offers integration with accounting systems to synchronize sales, stock, inventory, and product data either at the end of each day or in real-time. This results in significant time savings and improved accuracy for business operations.”
Priore also noted, “In terms of gift card and loyalty management, MXM POS offers comprehensive gift card functionality through partnerships with third-party providers like Factor4 and GiftYa. Its loyalty program links customer profiles to an integrated rewards module, allowing customers to earn and redeem points. These value-added integrations further enhance businesses.”
Through Priority’s partnership and effortless integration with Wix, a company specializing in cloud-based web development services, businesses can effortlessly create a tailored e-commerce platform. These solutions and partnerships are especially beneficial for businesses lacking an online presence, enabling them to modernize their commerce experience, expand their customer base, and ultimately achieve greater growth compared to companies without an online presence.
Furthermore, when combined with Priority’s top-notch payments and banking technology, powered by MX™ Merchant and Passport, these features and integrations provide a comprehensive solution for businesses of all sizes to support their operations. This positions Priority as a noteworthy company in the realm of payments and banking services, going the extra mile to assist businesses in thriving and expanding.
Valuable Sales Insights and Best-in-Class Analytics
Thomas Priore expressed, “MXM POS was constructed with a broader purpose beyond being merely an innovative solution for business payments and operations. It has been purpose-built to deliver valuable insights that can drive the growth of organizations.”
Continuing his remarks, he elaborated, “By offering a smooth and user-friendly payment experience for customers, whether they’re in-store or online, along with real-time order tracking and access to invaluable sales insights through state-of-the-art analytic reporting technology, MXM POS is incredibly adaptable in the realm of payment solutions.”
Thomas Priore concluded by saying, “MXM POS possesses the flexibility to align with and support the unique requirements of any business, whether it’s a small, family-owned store 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.”