PAR Technology | July 21, 2022
ParTech, Inc. (PAR), (NYSE: PAR), a global restaurant technology company and provider of unified commerce for enterprise restaurants, today announced the launch of PAR Infinity™ (PAR™). The subscription-based hardware offering combines PAR’s purpose-built technology with industry-leading support services such as a 24x7x365 help desk, robust managed care capabilities, field service, and equipment exchange for the life of the customer. PAR Infinity relieves the burden of owning and managing the hardware restaurants rely on to operate efficiently and profitably.
PAR Infinity does not require payment upfront and PAR assumes responsibility for successfully implementing, maintaining, and updating the technology throughout the terminal lifespan. Customers can also add several industry-defining PAR products such as Brink POS®, a market-leading Point of Sale system, Punchh®, loyalty, offer management, and engagement platform, Data Central®, labor, scheduling, and analytics, and PAR Pay®, payment services.
“We’ve witnessed the rapid adoption of technology throughout the hospitality industry, but with the speed at which restaurants work, any IT issues can be costly, Every minute a restaurant is thinking about hardware, an upgrade or app integration, it takes time away from elevating the guest experience. Many technology vendors focus on putting their hardware into restaurants with little consideration for what happens once it gets there. When restaurants have PAR Infinity™, they are gaining a dedicated IT staff for as long as they are a customer.”
-Savneet Singh, CEO and President of PAR Technology.
Anchored by the new PAR Helix™ terminal, PAR Infinity™ addresses one of the most common Hardware as a Service (HaaS) problems with an unmatched solution. Unlike other hardware vendors, where once the technology advances, restaurants are on the hook to purchase new hardware, PAR protects restaurants from technology obsolescence. PAR will take over the entire hardware process from installation and maintenance to upgrading, servicing, and eventual removal of the hardware when it is no longer needed. Corporate IT departments no longer need to invest time into day-to-day maintenance of the system, and restaurant staff can focus on serving customers and creating one-of-a-kind guest experiences.
Historically, hardware would last for several years, and restaurant operators could manage the upkeep, but digital transformation is happening more quickly now, and operators are struggling to service their technology fast enough, said Dorothy Creamer, research manager, hospitality and travel digital transformation, IDC. Restaurant operators are seeking more support from solution providers in IT management and services to remove the need for them to act as technicians. IDC data shows that this is a struggle for the majority of restaurants, with nearly a quarter (24%) of operators naming systems maintenance the top challenge they face(1). In turn, restaurant operators are looking to IT managed services to ensure business resiliency, with 72% planning to increase investment making it the top growth area for IT spending in 2022(2). POS solution providers, like PAR are tapping into this need to act as end-to-end partners to empower restaurants to be more responsive to the changing needs of customers, focus on the guest experience and innovate at the pace customers have come to expect.
About PAR Technology Corporation-
For more than 40 years, PAR Technology’s (NYSE Symbol: PAR) cutting-edge products and services have helped bold and passionate restaurant brands build lasting guest relationships. We are the partner enterprise restaurants rely on when they need to serve amazing moments from open to close, during the most hectic rush hours, and when the world forces them to adapt and overcome. More than 100,000 restaurants in more than 110 countries use PAR’s restaurant hardware, software, drive-thru, and back-office solutions. With the acquisition of Punchh Inc., a leading SaaS based customer loyalty and engagement solutions provider, PAR has become a Unified Commerce Cloud Platform for Enterprise Restaurants.
POS SOLUTIONS,POS RETAIL
InComm Payments | August 04, 2022
Real Time Technologies, Inc (RT²), a leading enterprise software platform company delivering retail activation, point-of-sale (POS), business intelligence and inventory management solutions to the wireless industry, has completed the strategic acquisition of InComm Agent Solutions, Inc (IAS), a subsidiary of InComm Payments, an innovative global payments technology provider.
IAS, formerly Qpay, originally launched in 2002 specializing in customizable payment and technology solutions. It quickly became the payment processor of choice for retailers, master agents and wireless carriers before being acquired by InComm Payments in 2010 and rebranded as IAS in 2015. IAS joins RT² having improved the prepaid and payment landscape for three very important groups over many years – retailers and agents, wireless carriers, and consumers. IAS is set to be elevated as a core pillar in RT²’s value proposition, augmenting its existing flagship POS, business intelligence, and inventory management solutions to bring innovation, choice, and certainty to wireless carriers, retailers and agents, and consumers in more places.
Real Time Technologies (RT²)
RT² started in 2001 as a proprietary POS solution for a national wireless retailer who sold all four U.S. National Carriers (AT&T, Sprint, T-Mobile, and Verizon). This national multi-carrier retailer faced unique challenges managing all of the different business rules and commissions reconciliation for each carrier. RT² was able to customize a solution that would later set the stage for its flagship POS product. Fast forward to the end of 2021 and RT² was ranked No. 1,981 by Inc. magazine on its annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies.
With the addition of IAS, RT² solutions will be provided in over 13,000 wireless retailer locations nationwide where $10 billion of commerce is done each year, making RT² the largest wireless retail management provider in the U.S. The purchase of IAS immediately expands RT²’s geographic serviceable areas with their technology solutions beyond the U.S. into Canada and Puerto Rico. This transaction catapults RT² into the leading position to deliver a fully integrated, real-time, software-defined solution for the thousands of wireless retailers and agents looking for an edge on operational efficiency and customer experience.
“We are both excited and grateful to have the opportunity to bring these two critical technologies together under the one roof. We now have end-to-end visibility of the customer transaction, closing an important gap in the market, This deal allows RT² to be a one-stop enterprise commerce solution for carriers, retailers and distributors alike, helping them productively ignite new business. One of our core commitments to customers is to enable them, through best-in-class real-time software solutions, to spend more time in their business than on their business. Adding this critical FinTech platform via IAS takes that commitment to a new level that we are excited to deliver, We would also like to welcome the team from IAS, who are joining us on the next part of their professional journey. RT² prides itself on having the strongest team in the business, and the IAS team is no different. I’d like to sincerely thank InComm Payments for their trust, support, and cooperation throughout this deal and I look forward to continuing our friendship well into the future.”
-Omar Azrag, CEO of RT².
This transaction brings us one step closer on our path to ubiquity in the wireless industry, said Ali Koumaiha, Founder of RT².
As we develop the next generation of financial technology solutions and grow our payments platforms into new industries, we sought a business that would enable IAS to continue delivering quality service and expertise to wireless carriers, agents and consumers, said Stefan Happ, President of InComm Payments. We thank the IAS team for their dedication and look forward to seeing them grow under RT2.
About Real Time Technologies (RT²):
RT² offers the most flexible cutting-edge Retail Management Solutions that encompass sales, inventory management, frontline employee management & engagement, business intelligence, and digital automation tools for the wireless space. We support Fortune 500 companies unify their customer experience and remove pain points across multiple retail touch points. RT² prides itself on fostering a family culture and a dynamic work environment where team members are set up to make meaningful contributions across the organization.
About InComm Payments:
InComm Payments is an innovative global payments technology provider. Leveraging dynamic technology and proven expertise, InComm Payments delivers enhanced end-to-end payment platforms and emerging financial technology solutions through a single integration, helping businesses grow across a wide range of industries including retail, healthcare, tolling & transit, incentives, mobile payments, digital currencies and financial services. By enabling omnichannel connections and alternative payment options to an ever-expanding consumer base in an increasingly digital ecosystem, InComm Payments creates seamless and valuable commerce experiences across the globe. With three decades of experience, over 525,000 points of retail and online distribution, 420 global patents and a presence in more than 30 countries, InComm Payments leads the payments industry from its headquarters in Atlanta, Ga.
BentoBox | June 09, 2022
BentoBox announced the launch of BentoBox Payments. With the addition of Payments to the BentoBox platform, restaurants have access to an end-to-end solution to take orders, process payments, and manage them all within the same platform, addressing restaurant operators' need for simple-to-use technological solutions to run their businesses.
Clover® powers BentoBox Payments by Fiserv, a worldwide leader in payments and financial services technology that bought BentoBox in November 2021. All BentoBox customers will have access to BentoBox Payments. Those who use the Clover point-of-sale and business management system can further streamline processes by consolidating on-premise and online ordering payment processing onto a single platform, thereby improving operational efficiencies and communication between the front and back of the house. With this integration to Clover, the BentoBox Marketing and Commerce platform now integrates websites, omnichannel ordering, and unified diner data, allowing restaurants to provide their customers with the level of hospitality they deserve, from initial contact through order fulfillment and follow-up.
With BentoBox and Clover, Fiserv enables approximately 200,000 eateries to provide guests with unique and distinct experiences. Combining customer-engaging omnichannel commerce capabilities with the revenue-driving role of digital storefronts, Fiserv assists restaurants at every stage of their journey, from establishing an online presence to engaging with their diners, generating multiple revenue streams, and operating an efficient front- and back-of-house.