Bank of America Merchant Services this past week launched the Clover Mini, an EMV-ready payment system developed by First Data Corp., according to a press release.

Clover Mini, the latest addition to the Clover family of products, is intended to replace the single-use terminal with an "all-in-one" business management system, according to the announcement.

Bank of America and First Data said the Clover Mini offers merchants payment acceptance flexibility with its ability to accept a wide variety of options including EMV (both chip-and-PIN and chip-and-signature), NFC transactions, cash, credit, debit, and prepaid. The system also features a seven-inch touchscreen and wireless connectivity, and what the companies call state-of-the-art TransArmor data protection3 and mutually authenticated SSL/TLS products.

"The launch of Clover Mini is a response to our small business clients, who tell us they want streamlined capability and innovation," Tim Tynan, CEO of Bank of America Merchant Services, said in a statement. "The built-in layers of security protection also give business owners peace of mind, so they can focus on what matters most, their customers and growing their business."