- Clover Merchant Plans and Verticals
Successful apps all have at least one thing in common: they have a well-defined target audience. Before creating an innovative app, there are some questions to consider: what type of business are you targeting? Who will acquire and utilize your masterpiece? For example, an artist has an ideal target audience to achieve the maximum views; they have a “duty to find an adequate expression to convey it to as many souls as possible” (George Sand).
Maybe you wouldn’t define your app as a piece of art, but having the right audience in mind is going to make it more targeted and focused. And the more an app can target a merchant’s exact needs, the more installs you’re likely to get.
Clover takes into consideration what type of business verticals are there and what functionalities are important to that particular vertical. Every business vertical differs in what functions are important to them. A hair salon may not care about a menu in the same way that a restaurant would. In the same way, a comic book store may care more about social media than a lumber wholesaler.
Let’s pose the question again: who is the app for? What type of business are you targeting?
Picture this, you are going out for lunch. You head to a local business to eat. You order a burger and fries with a nice cold soda. As soon as you order, you pay and get a receipt (9/10 times you’ll ball the receipt up in your pocket and forget about it). You wait a couple of minutes, maybe scroll through social media, emails, selfies, etc., and you hear “Order 9, your food is ready!” You quickly shuffle through your pockets to get the receipt you balled up to verify if that is your order. Yes…it is. Your excitement builds up as you are finally able to please your empty stomach with some good food.
How will you categorize that type of business experience?
Clover categorizes business types as Merchant Verticals. These verticals are:
- Restaurants & Bars
Each of these verticals can branch off into more specific subcategories. Restaurants & Bars can be split into:
- Quick Service Restaurant (QSR): order and pay at the counter. A Quick Service Restaurant is a restaurant that doesn’t normally have “wait staff” servicing the table and payments happen right when the order is placed. These are popular at cafes, sandwich shops, take-out pizza, dive bars, and food trucks.
Full Service Restaurant (FSR): order and pay at the table. Full Service Restaurants are fine dining restaurants, sports bars, sit-down pizzerias, etc. Payments are processed at the end of service, managed by the servers, and can have open tabs.
The Retail vertical encompasses any business that sells merchandise and is heavy on inventory. These are jewelry stores, convenience stores, clothing boutiques, game stores, shoe stores, furnishings, bike stores, etc. They make sure they have the merchandise for the customer’s needs and wants.
Last but not least is the Service vertical. This vertical includes hairstylists, chiropractors, auto repair shops, nail salons, motels, skydiving schools, dental/medical, etc. Basically, anything that provides pampering, wellbeing, or activities is going to fall under service. These verticals have a simpler inventory than restaurants and retailers and involve things like sessions/experiences rather than physical items.
Remember that local business you went to for lunch, who did a fine job in filling your tummy with a burger and French fries? That type of business is a Quick Service Restaurant (QSR) because you ordered and paid at the counter.
Since the pandemic, a new merchant type was added to Clover’s merchant vertical schema: Ecommerce-only. Ecommerce emphasizes Clover as a payments platform rather than device-first. These merchants rely mostly on online transactions, sometimes without a physical store location. However, Ecommerce merchants could technically fall into any of the traditional Clover verticals. What makes them different is that they do not have a physical Clover device.
Now let’s roll into a variety of plans and key functionalities.
Depending on the business’s key functionalities, every Clover merchant subscribes to a Software as a Service (SaaS) plan. These plans provide the merchant access to specific modules. Modules are the categories of functionality available in each plan. Thinking back to the QSR, what you observed was a menu to choose from, the order is placed and sent to the kitchen, and a reference to your order number. Below is a chart of Clover software plans and some key features they have. Please note that there are region restrictions.
**Payments and Essentials are replacing Payments Plus and Register Lite, respectively. Unlike previous plans, both of these plans are device-optional. Merchants who are previously on Payment Plus and Register Lite will be kept on their current plans.
More information on the plans and which devices are supported can be found at Clover Docs.
Each service plan has modules on what the developer app can modify. This is helpful when developing your app. Below is a chart of some of the modules:
Let’s return to the burger QSR. Based on the merchant’s needs, that restaurant might need a module that can have items, make item modifications, combine and assign orders, handle tax rates, order printers, and handle cash payments.
Please note that these availabilities can act like tiers. The visualization below helps to clarify how modules in SaaS plans are structured.
All of the modules available in Payments Plus and Register Lite are available in Register, Table Service, and Counter Service SaaS plans. Payments and Essentials are the newest SaaS plans and offer the added capability to use Clover with or without a Clover device.
If you require a module under Payments Plus, your app will be downloadable for all merchants. If your app requires a module in Register Lite, it will be available for that tier, as well as Register, Table Service, and Counter Service. If you need something for Register, Counter Service, or Table Service, the app will only be available to one of those plans, respectively.
Verticals and Plans work hand in hand to create perfect harmony and live happily ever after. Based on the type of business, plans can drill down to a specific, ideal plan. The Payments plan provides basic payment processes without a menu or inventory. A Restaurant & Bar type vertical would not be ideal for this plan as they need to have order, inventory management, tip banks, time clocks, and table waiting, to name a few features. The bullets below show which plans Clover tends to matchmake with which merchant verticals:
- Table Service ⟶ Full Service Restaurant (order and pay at the table)
Counter Service ⟶ Quick Service Restaurant (order and pay at the counter)
Register ⟶ Retail
Register Lite/Essentials ⟶ Services, Ecommerce
Payments/Payments Plus ⟶ Services, Ecommerce, External POS + Clover for processing
A merchant can absolutely pick a plan that doesn’t match this mapping; however, the above connections represent our generalized merchant personas for each plan.
Please note during our matchmaking, the Register plan is ideal with Retail-type businesses because this plan has a weight scale feature, item variants (such as bulk add inventory for sizes or colors), and exchanges. An example of the Ecommerce vertical with Payments Plus/Essentials can be a construction company that would like to invoice their customer.
Now that you see the relationship between verticals and plans, it’s easier to think about who your app is for and what your target audience is. If you know the vertical you are targeting when creating your app, you should have an idea of what merchant plans are useful. This will also give hints on which modules to use or ignore. Using this information will help create your innovative app and hit the key functionality of the merchant vertical.
No hesitation here, you can always reach out and ask questions at firstname.lastname@example.org.
- Date of publication:
- Thu, 10/14/2021 - 09:01
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