POS RETAIL
Globenewswire | May 02, 2023
Innovative Payment Solutions, Inc. (OTCQB: IPSI) (“IPSI” or the “Company”), a fintech provider of robust and proprietary digital payment platforms that enable transfers of money by means of convenient, cost effective fast and secure systems, today announced that it has entered into a new line of business called IPSIPay ExpressTM, a three-way joint venture with payment industry veterans OpenPath and eFinityPay to develop and market a proprietary consumer to merchant real time payment platform initially focused on the fast growing online gaming and entertainment sectors.
IPSIPay Express will provide merchants with a technology for payment processing that allows for seamless, secure, and instantaneous transactions, in real time bank-to-bank account transfers (from customer bank account to merchant bank account) at costs lower than those currently available from credit or debit card processors. The proprietary technology incorporated into IPSIPay Express will also seek to end losses due to “friendly fraud” and substantially reduce consumer chargebacks, all of which are expected to provide significant value to merchants and operators in the online gaming and entertainment sectors.
Importantly, IPSI believes that the IPSIPay Express business should be ready for launch and could begin to generate revenue for IPSI during 2023. IPSI expects to use any revenue from IPSIPay Express to fund the continuing commercialization and development efforts for its flagship IPSIPay mobile app and for working capital.
OpenPath, headquartered in Irvine, California provides payment solutions to companies processing large volumes of online payments. Scott C. Dorey, OpenPath’s CEO, stated: “We are very pleased to partner with IPSI and eFinityPay in this promising new venture. We believe the innovative payment technology that will be at the core of IPSIPay Express will be a game changer for merchants operating in so-called “high-risk” industries like online gaming and entertainment. The IPSIPay Express account-to-account solution is in high demand by those merchants as it dramatically reduces chargebacks, processing costs and funding time for merchants. We look forward to launching IPSIPay Express to merchants on the OpenPath platform.”
eFinityPay, founded by CEO Franklin Levy and based in Los Angeles, California, specializes in delivering stable merchant processing solutions to ecommerce merchants in the online casino, sportsbook, entertainment, and video gaming businesses.
As part of the joint venture, OpenPath will market IPSIPay Express to its existing and future merchant customers; eFinityPay will be responsible for developing and incorporating the online payment technology into IPSIPay Express as well as marketing to its substantial network or merchants in the targeted fields; and IPSI will be responsible for providing banking contacts to IPSIPay Express as well as potential access to new capital to support the IPSIPay Express business. IPSI is eligible to receive up to one-third interest in IPSIPay Express by contributing up to $1.5 million of capital to the joint venture by the end of this year.
William Corbett, IPSI’s Chairman and CEO commented, “We are excited by the new opportunities IPSIPay Express will provide for us. We believe this joint venture has the potential to diversify our revenue channels and provide payment solutions to an online gaming and entertainment segment that is growing and generating tens of billions of dollars in revenue annually. The IPSIPay Express alternative payment platform, combined with OpenPath and eFinityPay’s considerable experience and relationships with the biggest merchants in the gaming and entertainment industries, should help drive growth at IPSIPay Express. In addition, IPSIPay Express will provide a simple, secure, and easy to use payment experience. We anticipate this will enable the Joint Venture to gain wide acceptance by online merchants and their customers. This new venture with experienced partners, will expedite our path to revenue, and allow us to drive the continuing launch and development of our flagship IPSIPay app.”
Additional details about the joint venture will be provided in a Current Report on Form 8-K to be filed by IPSI with the U.S. Securities and Exchange Commission.
About Innovative Payment Solutions, Inc.
Innovative Payment Solutions, Inc. (OTCQB: IPSI) is a cutting-edge provider of digital payment and other solutions for both business owners and consumers, focusing on the needs of the unbanked and underserved. Through its IPSIPay® App and Beyond Wallet offerings, IPSI facilitates instantaneous cross-border remittances by companies and individuals, using its robust technology platform to enable digital transactions that are convenient, cost effective, fast, and secure. IPSIPay® App users can acquire VISA debit cards, as well as obtain a bank account at a major U.S. institution, enabling them to execute financial transactions through IPSI’s large, worldwide merchant network. IPSI is also a joint venture partner in IPSIPay Express, a new business aiming to provide proprietary payment solutions to markets including online gaming and entertainment.
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POS RETAIL
Businesswire | May 30, 2023
Surfsand Resort in Cannon Beach, Oregon has built its long-held reputation as a leading vacation spot in part based on its enviable location overlooking the iconic 235-foot-high Haystack Rock just off the Northwest Pacific Coast. In 2022 the resort further elevated its stature by updating all the property’s systems prior to a property-wide renovation and expansion starting in November 2023. Surfsand also reinforced its allure as a destination for special moments by introducing various packages of themed experiences and upgrades individual guests and groups can reserve in addition to their rooms. Coinciding with these advancements, Surfsand decided to upgrade its operational and digital capabilities by choosing property management, point-of-sale and payment processing software and systems from Agilysys. In addition to improving efficiency for both guests and staff, the new software will help Surfsand unify data on guest preferences across various property experiences so that each stay can be tailored in advance with special amenities and offers, and so that staff can personalize their interactions with guests before, during and after each stay.
The property’s diverse offerings include those that are family-friendly, such as Taffy the Puffin birthday bashes, guided tide pool excursions, group photo shoots and beach bonfires featuring s’mores; those with romantic appeal such as sunset dining on the beach, couples spa retreats and art tours; and those designed for pet lovers, such as pet-friendly rooms, furry guest welcome baskets that provide a towel, a placemat, bowls for food and water and tasty treats at check-in, and activities designed for pet participation.
Surfsand General Manager Phillip Wilson noted that systems that make these enriched guest experiences easy to discover and reserve are integral to the property’s evolution.Wilson said, “Our one-of-a-kind location supports delivering unique guest experiences, whether visitors are designing their dream weddings, celebrating family milestones, or connecting more closely as couples. When evaluating technology systems, it was essential that we be able to tailor them to fit our hotel and the special things we do for our guests. Our guests are looking to book more than rooms; they want to book something special. Our technology systems need to make it easy for guests to connect with all the amenities and thoughtfully designed experiences we offer, so Surfsand can be not only their favorite resort, but the one to which they return most often to enjoy personalized experiences they cannot find elsewhere.”While the ability to tailor the technology to Surfsand’s unique offerings is important, Wilson said his number one driver in selecting systems is customer service he can count on. “I have worked with Agilysys and numerous other hospitality technology providers, and Agilysys’ support is hands-down better than all the rest,” Wilson said. “All of us users know systems, no matter who provides them, will have problems or even fail from time to time. Knowing that skilled and intelligent support is there to help and that response times are quick is hugely important. Agilysys has that advantage,” he said.
Wilson also noted that properties that are not part of a standardized brand structure greatly benefit from the ability to tailor reports and functions for their unique guest and market data requirements. “In non-branded hotels, operations change and different needs pop up, so we often need custom data sets,” Wilson observed. “Other hospitality technology providers, including the largest ones, charge customers for any report you ask to have built. Agilysys accommodates diversity in how properties operate without exacting that financial burden,” he concluded.
A pleasant surprise was how quickly the Surfsand staff members were able to learn the new software as well as operate it proficiently. “When software is intuitive and easy to learn, user satisfaction is meaningfully higher,” Wilson said. “We were pleased with how quickly our staff members became comfortable operating even the advanced capabilities of the system,” he added.
Jeba Kingsley, Agilysys vice president of professional services, commented that Surfsand’s goals make the property an ideal customer for Agilysys solutions. “Helping Surfsand create deeper understanding of guests and staff over time so they can continuously evolve personalized, unique and enhanced experiences is the perfect role for Agilysys solutions,” Kingsley said. “Our solutions provide best-of-breed operating performance when deployed standalone, and also are designed to work together across a hospitality ecosystem to deliver exponential value as each solution contributes data to create and utilize a unified profile for each guest over time. We get energized when working with customers such as Surfsand who recognize the long-term advantage of using their hospitality technology systems to enhance guest and staff experiences and to take satisfaction to a higher level,” Kingsley added.
Versatile PMS Capabilities Support Efficiency and Deeper Guest Knowledge
Key drivers for Surfsand’s PMS selection were the ability to manage a diverse mix of accommodations and amenities; the ability to leverage efficient cloud-based operations while also maintaining offline operating integrity during Internet challenges; and rich digital and mobile options for both guests and staff.The system also equips staff to see and book available upgrades, dining and activity reservations and Experience Enhancement packages in a single session from a single comprehensive view without switching among different systems. In turn, guests also can experience personalized offers when booking in advance and while they are checking in. Intuitive interfaces, simplified workflows, and groupings of commonly used tasks also make user training simpler and faster.
Proven Point-of-Sale and Payment Solutions Maximize Security and Convenience
Agilysys POS and payment solutions enable Surfsand to use a wide range of traditional fixed-station POS terminals and mobile devices (across Microsoft Windows, Android and iOS operating systems) to match the needs and style of different venues and revenue centers across the property.Guests can pay for restaurant checks and other transactions using their mobile phones through one of the first point-to-point encryption (P2PE) payment solutions for hospitality validated by the PCI Security Standards Council. Surfsand can deliver secure electronic payments across guest experiences, including countertop, table service, EMV, mobile tablet, and signature capture scenarios. They also can choose from a broad array of U.S. credit card processors and can easily change equipment as technology evolves.
“Agilysys has been a terrific partner in helping us to map out our hospitality technology evolution, and we look forward to continuing to create new ways to delight guests leveraging the advanced capabilities these systems enable,” Wilson concluded.
About Agilysys
Agilysys is well known for its long heritage of hospitality-focused technology innovation. The Company delivers modular and integrated software solutions and expertise to businesses seeking to maximize Return on Experience (ROE) through hospitality encounters that are both personal and profitable. Over time, customers achieve High Return Hospitality by consistently delighting guests, retaining staff and growing margins. Customers around the world include: branded and independent hotels; multi-amenity resort properties; casinos; property, hotel and resort management companies; cruise lines; corporate dining providers; higher education campus dining providers; food service management companies; hospitals; lifestyle communities; senior living facilities; stadiums; and theme parks. The Agilysys Hospitality Cloud™ combines core operational systems for property management (PMS), point-of-sale (POS) and Inventory and Procurement (I&P) with Experience Enhancers™ that meaningfully improve interactions for guests and employees across dimensions such as digital access, mobile convenience, self-service control, personal choice, payment options, service coverage and real-time insights to improve decisions. Core solutions and Experience Enhancers are combined in Hospitality Solution Studios™ tailored to specific hospitality settings and business needs.
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POS SOLUTIONS
PRnewswire | April 03, 2023
Tranglo today announced the launch of instant SEPA payments to Europe.
It marks the company's first large-scale expansion in that region and comes amid an influx of cross-border funds in recent years. SEPA facilitates over 43 billion transactions annually, with cross-border payments growing rapidly in the last 10 years. However, cross-border SEPA credit transfers and direct debits accounted only for 3.5% and 4.5% of such transactions in the region, respectively.
Tranglo expects cross-border transactions to SEPA countries to increase significantly in the coming months, especially among the increasing number of European businesses and consumers abroad looking for real-time payments.
At launch, supported SEPA payout countries are the United Kingdom, Belgium, Croatia, Finland, Germany, Greece, Hungary, Netherlands, Portugal, Slovakia, Spain and Sweden, with more to follow.
Tranglo Group CEO Jacky Lee said: "We decided to launch this offering to cater to the increasing demand for instant cross-border payments. Our business partners will be delighted to know that Tranglo Connect is integrated seamlessly into SEPA, offering more value per transaction in terms of speed and coverage."
Tranglo's instant SEPA payout is available 24/7 and supports individual and business senders and beneficiaries. All transacting bank accounts must be identified by an IBAN.
Tranglo helps financial institutions and businesses pay through Tranglo Connect, its proprietary cross-border payments solution. It seamlessly integrates payout and partner services, unifying the end-to-end payment process with direct API access. With Tranglo Connect, companies can make payments to over 30 countries reliably and securely.
About Tranglo
Tranglo is a cross-border payment hub with a proven track record in business payment, foreign remittance and mobile payment solutions. Founded in 2008, we have offices in Kuala Lumpur, Singapore, Jakarta, Dubai and London. Our global network spans more than 150 countries, 600 mobile operators, 1,300 banks/wallets and 140,000 cash pickup points. Tranglo is a proud partner of Ripple, the leading enterprise blockchain solutions for global payments. We now offer enhanced cross-border payout services with an even broader coverage through RippleNet, Ripple's global payment network.
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