OMAHA, Neb., Aug. 27, 2015 /PRNewswire/ -- Mutual of Omaha Bank's Merchant Services division is collaborating with Omaha based payments technology company, TruBeacon, Inc. to provide solutions for middle market sized merchants throughout the United States. Mutual of Omaha Bank, based in Omaha, Nebraska, is a subsidiary of Mutual of Omaha, an insurance and financial services company. The bank had $6.6 billion in assets as of Dec. 31 and 40 offices nationwide.
"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. "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." In October 2015, a mandate from American Express, Visa, MasterCard and Discover goes into effect that will shift liability for fraudulent transactions to the merchant if they do not have updated point of sale equipment that includes the ability to process chip.
"Payments processing and the point of sale system are the cornerstone for a business's operation," said Philip J. Philliou, president TruBeacon, Inc. "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 the ability to make pricing changes, menu updates, and inventory changes at one store, a group of stores or across the entire franchise with just one click. TruBeacon also provides a retailer-branded mobile app that interacts with the point of sale systems that Mutual of Omaha Merchant Services' provides.
About TruBeacon, Inc.
Based in Omaha, Nebraska, TruBeacon develops sophisticated software solutions that help merchants to profitably grow their business. Multi-location by TruBeacon ®, Order Monitor by TruBeacon® and TruBeacon's white label mobile app platform are being adopted by franchises, retailers, quick service restaurants and other multi- location businesses worldwide. The company has offices in Omaha, Nebraska; Englewood Cliffs, New Jersey, and Sao Paulo, Brazil and is venture funded. For more information, visit www.trubeacon.com, @trubeacon or call 1-855-330-8706
About Mutual of Omaha Bank
Mutual of Omaha Bank is a full-service bank providing financial solutions to individuals and businesses across the United States. The bank is a subsidiary of Mutual of Omaha, a highly rated Fortune 500 insurance and financial services company founded in 1909. For more information about Mutual of Omaha Bank, visit www.mutualofomahabank.com.
SOURCE TruBeacon, Inc.