Austin, Texas-based Oracle touted the new feature as a kind of one-stop-platform for retailers, where they can process payments, oversee inventory and manage staff. The company also argued that the services will be a less expensive alternative in the marketplace, with no varying fees for different payment methods or other service fees.
With the new payment offering, the company aims to “bring a more stable ‘payment to processing’ solution to market for a fraction of the cost,” said Oracle Senior Vice President Mike Webster, who is general manager of Oracle’s retail division. The goal is to better help retailers anticipate what their processing costs will be, the company said.
