Global Payments Inc. is focusing on its new Genius point-of-sale initiative as it prepares to welcome the big merchant processor Worldpay into its fold, the Atlanta-based company’s top executives said early Wednesday.
Global launched Genius for restaurants in May, with Genius for retail following last month. Now, the revamped POS program, which consolidates some 16 point-of-sale products into a platform that can sell internationally, is set for growth as the company tweaks the program, the company said. “The momentum [for Genius] continued in July,” noted chief executive Cameron Bready on a conference call with equity analysts. To help maintain that trend, he added, the company added a softPOS capability last month. SoftPOS is technology that lets sellers run transactions on an ordinary mobile device.
While the company has been remodeling its acquiring operation, it has been preparing to welcome the Worldpay processing platform into its midst as part of a $22.7 billion transaction with FIS Inc. That deal is expected to close in the first half of next year. As part of the transaction, Global’s card-issuing business will go to FIS. Issuing accounts for a little less than a quarter of Global’s revenue.