The mobile point-of-sale space is welcoming a new player: Punchey.

Punchey, which has already received $1.7 million in funding from Stevens Ventures, unveiled an end-to-end payments platform for small and mid-sized businesses. The company said that with its platform, small- and medium-sized businesses can process transactions via a mobile device, Web or a store counter. Additionally, merchants can link those payments through a back-end system that manages loyalty and rewards programs, marketing offers and social media channels.

"We're bringing small businesses on the grid, connecting the local shopping experience to their upstream marketing initiatives," said Punchey founder Nathaniel Stevens. "We believe it's the first completely end-to-end payments solution for local businesses, enabling them to 'make sense' of their marketing and promotional investments."

Merchants using Punchey receive card readers to swipe credit cards and process customer checkout. Similar to other mobile POS products, Punchey's mobile card reader (which looks to be only compatible with iOS devices at the moment) reads card data, captures signatures and authorizes transactions. Punchey also offers a countertop unit that connects to a standard computer, either PC or Mac, to process transactions.

But beyond simply processing payments, Punchey said it provides an array of value added communications and marketing capabilities. With its services, Punchy said merchants can automatically create accounts for customers, create personalized rewards programs and send special offers and communications to engage with customers after a sale is made. It will be launching additional services later this year, Punchey said.

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