Mutual of Omaha Bank's Merchant Services division has partnered with TruBeacon, Inc.; an Omaha based developer of sophisticated mobile apps for financial institutions and leading retailers, to provide solutions for mid-sized merchants all over US. As a result of this collaboration, Mutual of Omaha Merchant Services will provide TruBeacon, Inc.'s multi-location management, order display, reporting software and merchant branded mobile apps. These services are ideal for merchants, franchisees and quick service restaurants.
Mutual of Omaha Bank based out in Omaha, Nebraska, serves financial solutions to individuals and businesses all over US. With $6.6 billion in assets, the bank is a subsidiary of Mutual of Omaha which is one of the Fortune 500 insurance and financial services company founded in 1909.
"Middle to large market businesses, such as franchises, chain stores and national retailers have payment processing, reporting and technical requirements that are vastly different from small businesses," said Matthew T. Minchow, Executive Vice President, Mutual of Omaha Bank in the press release. "Mutual of Omaha is pleased to be working with TruBeacon to address those unique needs. Our timing is very good as merchants are seeking to make changes at the point of sale to new payment forms such as chip- based credit and debit cards and mobile payments."
It’s a well-known fact that the Payment Card Industry (PCI) Security Standards Council has set new rules for merchants and financial institutions. The new rule will be effective from October 2015 and implies that the stakeholders who have already adopted EMV will be protected against fraud liability. The EMV standards have been established by the three major card networks; Eurocard, MasterCard and Visa. All the three card networks have clearly cited that retailers will have to deploy EMV-compliant POS terminals in order to avoid the fraud liability.
"Payments processing and the point of sale system are the cornerstone for a business's operation," said Philip J. Philliou, president TruBeacon, Inc in the press release. "Pricing information, information about loyalty and rewards points, what products are selling and when, inventory levels, and staffing data all reside in the point of sale system. That's the data that TruBeacon enables authorized users to easily extract from the point of sale system."
TruBeacon provides multi-location merchants with a custom mobile app and sophisticated mobile point of sale terminal. Multi-location by TruBeacon ®, Order Monitor by TruBeacon® and TruBeacon's white label mobile app platform are globally being used by merchants, franchises and multi-location businesses.
In June, 2015, TruBeacon, Inc. partnered with First Data Corporation to launch Multi-location by TruBeaconSM in the Clover App Market. Clover is First Data's innovative, cloud-based business management platform and payment terminal.