ShopKeep, a cloud-based technology provider, Wednesday introduced ShopKeep Payments. ShopKeep Payments is a customizable payment processing product for retail shops, restaurants and other businesses that prefer to have one centralized system for their merchant services with no annual contracts, according to a press release.

"ShopKeep is more than just point-of-sale software. It is a business management system, and as the industry continues to change, we are expanding into areas that help our customers run smarter businesses and grow — that includes data and analytics, gift cards, marketing software integrations and now payments," Norm Merritt, president and CEO of ShopKeep, said in a statement. "Most merchants do not have the time to fully research the intricacies of payment processing, and because ShopKeep has such transparent pricing options, so many of them have requested a simpler payments solution from us. With ShopKeep Payments, merchants can have all of their point of sale needs in one place, with transparent pricing, customized rates, award-winning 24/7 customer support, no termination fees and no contracts."

ShopKeep Payments will be a new division of ShopKeep, and will leverage technology from Payment Revolution, an independent sales organization and full-service credit card processing firm that specializes in custom solutions, according to the announcement. ShopKeep Payments will also offer residual payouts to its interested, certified value-added resellers and referral partners. Additionally, ShopKeep will continue to allow merchants to work with any credit card processor of their choosing.