ShopKeep, a US-based cloud-based technology provider, has launched a new payment processing solution for retail shops, restaurants and other businesses.

Dubbed as ShopKeep Payments, the new customizable solution will provide one centralized system for their merchant services without annual contracts.

ShopKeep Payments has deployed technology from Payment Revolution, a full service credit card processing firm that specializes in custom solutions.

ShopKeep said that it will continue to allow merchants to work with any credit card processor of their choice.

ShopKeep president and CEO Norm Merritt said: "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 include data and analytics, gift cards, marketing software integrations and now payments.

"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."

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