RESTAURANT POS

Citcon Expands Customer Payment Options for Restaurant Self-Serve Kiosks With ABCPOS Integration

CITCON | March 14, 2022

Citcon, the leading mobile wallet payment provider enabling global commerce at scale, today announced a new payment technology integration with Abacus Business Computer (ABCPOS), an integrated merchant services company serving the restaurant and retail industries. The Citcon/ABCPOS integration will make ABCPOS kiosks the first restaurant kiosk in the US to accept customer payments from popular digital wallets like PayPal and Venmo, as well as dozens of popular alternate payment methods favored by international customers.

Integrated merchant services systems have transformed the restaurant and retail industries by streamlining, automating, and connecting key operational processes – from order-taking to kitchen operations, to inventory management. ABCPOS has continually evolved its merchant services platform to keep pace with the business needs of its clients and the expectations of the customers they serve. Expanding the payment transaction capabilities of its industry-leading Self-Service Kiosks is a key consideration at a time when restaurants are under increasing financial pressure.

“Every restaurant owner knows that convenience ranks right next to product and service quality when it comes to survival. Our partnership with Citcon expands the benefits of utilizing customer self-serve kiosks by enabling restaurants to accept PayPal and Venmo payments alongside dozens of other payment methods favored by international clientele safely and securely.”

Sean Chen, CEO of ABCPOS

“Enabling more kinds of transactions means attracting more customers to your store,” said Wei Jiang, President of Citcon. “We have seen this scenario play out across merchant categories around the world. Bringing these expanded payment capabilities to restaurants via self-serve kiosks enables any operator – from a sole proprietor to a small chain, to a national franchise network – to realize the benefits of expanded payment capabilities.”

About CITCON
Founded in 2015, Citcon’s fintech platform enables seamless global commerce at scale by connecting the world’s businesses with more than 100+ mobile wallets, local and alternative payment methods. Citcon integrates with POS and ecommerce systems such as Toshiba, Oracle, Cegid, Shopify and SAP and is currently deployed at more than 30,000 merchants' sites and locations, including major brands such as L’Oreal, Tumi, Texas Instruments, Revolve, Macy’s, and Panda Express. Citcon is backed by leading global investors Norwest Venture Partners, Cota Capital, Sierra Ventures, Sonae, and East-West Bank. The company has five regional offices in the US, Canada, Europe, and Asia to service its global clientele. 

About ABCPOS
ABCPOS was founded in 1992 to provide smart and tailored POS systems for small businesses with big dreams. Today the company serves more than 6,000 customers in all 50 states with an installed base of more than 40,000 devices. ABCPOS works very closely with customers from one single location to multi-location businesses to international restaurant groups. The company is always thriving to provide the best services while adapting to the latest technology, including the latest fully integrated cloud-based systems.

Spotlight

The retail market is a crucial element of the consumer finance division at Hitachi Capital (UK) PLC. As the UK’s largest point of sale finance provider, the business unit’s expertise helps retailers, from niche e-commerce outlets to high street brands, create a frictionless purchasing journey for consumers. In the last 12 months alone, we lent £2.3bn to 700,000 customers, processing a loan every 60 seconds. As the UK’s largest point of sale finance provider, we need to understand and tackle the challenges that influence the customer purchase journey so that we can give our customers the right products and advice to enable business success both in the short and long term.


Other News
POS RETAIL

Diebold Nixdorf Helps Retailers and Their Customers Reduce Printed Receipts

Diebold Nixdorf | May 25, 2022

Diebold Nixdorf (NYSE: DBD), a world leader in driving connected commerce for the retail and financial industries, announced the launch of Vynamic® Digital Receipt, a sustainable solution to reduce the amount of thermal paper receipts. Consumers can receive digital receipts via QR code at the point of sale (POS) without the need to register or via their retailer's app, so they have it available whenever necessary. Retailers can easily add accessible promotions and offers to strengthen customer loyalty, while significantly saving costs and reducing their environmental impact. Every retail transaction requires a receipt: Retailers must issue them to be legally compliant, and customers must present them to return an item or make a warranty claim. Based on this traditional approach of using thermal paper, millions of printed receipts are produced, resulting in retailer's incurring unnecessary expenses as well as adversely impacting the retailer's sustainable footprint. Further, customers often struggle with storing them as thermal paper receipts gradually fade as they are susceptible to heat and UV light. Now, Diebold Nixdorf supports retailers and customers to digitize this process with Vynamic Digital Receipt, a new solution based on technology from anybill. Diebold Nixdorf has integrated Vynamic Digital Receipt into its POS solution ecosystem of the cloud-native Vynamic® Retail Platform, performing as a sustainable interface to the customer. Thus, customers are not constrained to only printed receipts, retailers have the ability to present a QR code on a customer-facing screen* at the point of sale. Customers can subsequently scan this code without the need to be registered. The digital receipt can then be stored on the customer mobile device without worrying about storing or fading of physical receipts anymore. Additionally, there are numerous environmental benefits such as: a typical supermarket can reduce 1 ton of waste, 50,000 liters of water, 10,000 kWh energy and 1 ton of carbon dioxide per year when all receipts are created digitally**. The retailers themselves benefit from significant savings achievable with digital receipts compared to thermal paper costs, an improved footprint and this offers retailers the ability to add additional content to digital receipts to advertise promotions and recommendations based on the customer's purchase. Alternatively, digital receipts can be integrated into existing retailer apps and customers can be invited to join a loyalty program. Each time the customer makes a purchase, they scan the customer card that is displayed via consumer app or their digital wallet and benefit from loyalty rewards when linked to their loyalty card. "Digitizing receipts creates a triple-win situation for retailers, customers and the environment. We always look for ways to simplify retail processes and make them more efficient and sustainable. Supporting our retail customers with a solution for digital receipts that is easy to integrate into their POS system creates strong benefits and offers different ways to engage with shoppers according to their shopping habits." -Ilhami Cantadurucu, vice president Retail Global Accounts, at Diebold Nixdorf Diebold Nixdorf will showcase Vynamic Digital Receipt at this year's EuroCIS, taking place May 31 – June 2 in Düsseldorf. Please register here to schedule a demo at Diebold Nixdorf's booth #D25, located in hall 9. About Diebold Nixdorf Diebold Nixdorf, Incorporated (NYSE: DBD) is a world leader in enabling connected commerce. They automate, digitize and transform the way people bank and shop. As a partner to the majority of the world's top 100 financial institutions and top 25 global retailers, their integrated solutions connect digital and physical channels conveniently, securely and efficiently for millions of consumers each day. The company has a presence in more than 100 countries with approximately 22,000 employees worldwide.

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CLOUD BASED POS

Sionic Enters Multi-Year Agreement With Google Cloud To Host ULink™ Commerce Services Platform

Sionic | June 30, 2022

Sionic, a leading provider of omni-commerce, consumer-to-business payments solutions, today announced it has selected Google Cloud as the exclusive provider of cloud services for the nationwide rollout of its real-time, bank-to-bank digital payment service, enabling instant cash deposits from customers to merchants’ accounts at the point of sale. After an eight-year run with Amazon Web Services (AWS) for the hosting of its mobile commerce platform, Sionic chose Google Cloud to underpin its ULink mobile, online, in-store and in-vehicle service experiences. “We invested a lot of time with the Google Cloud team to thoroughly understand the value and benefits of Google Cloud over AWS, Having that level of interaction and support from knowledgeable, real human beings was a great first impression. Google Cloud’s focus on security, scalability, and sustainability mirrors our objectives as we bring current and future solutions to market. We have greatly decreased our infrastructure management needs and increased our development velocity by using Cloud Run, Cloud SQL and Big Query.” -said Justin Turner, Director of Product for Sionic. The payments industry is increasingly embracing the security and scalability that is offered by cloud technology, said Yolande Piazza, Vice President, Financial Services, Google Cloud. “We look forward to working with Sionic to enable its bank-to-bank digital payment service and enhance the payments experience for customers. Erica Burris, VP Strategy and Product for Sionic, said, We are anticipating steady, month-over-month transaction volume growth as we connect our Pay-by-Bank service to existing card payment providers already processing billions of transactions annually. About Sionic- Atlanta-based Sionic is leading The Great Reallocation in digital payments by delivering instant bank-to-bank transfers from consumers to merchants. Sionic's market first ULink™ is bringing real-time direct deposits to the point of sale via mobile, online, in store or in vehicle experiences. The company has partnered with top financial institution owners of The RTP Network for bank payments and CyberSource, a Visa solution, for secure card payment processing. Merchants accepting real-time payments bypass expensive card swipe fees and receive POS cash deposits immediately. Consumers may receive perks for paying with their bank accounts.

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POS HARDWARE

Episode Six announces a double first with Galaxy FinX

Episode Six | June 17, 2022

Episode Six, a leading global payment and banking infrastructure provider, today announced a new relationship with Galaxy FinX, Vietnam's newest fintech builder that is re-shaping the future of money and banking in the country. The deal represents two firsts for Episode Six: a partnership in Vietnam as well as with a pure-play virtual-bank builder in Southeast Asia region. Galaxy FinX selected Episode Six to provide modern cloud-based card and payment processing, which includes consumer credit- and debit-card services as well as connections to Vietnam's domestic financial switch services. Just as Episode Six's Tritium platform helps traditional banks innovate and offer digital solutions, it is also purpose-built to deliver key capabilities to virtual and digital banks. Tritium offers a multi-asset class digital wallet management system that can open gateways to card scheme processing and transfers across bank networks, including ATMs and Point of Sale (POS) devices. "Episode Six is proud to be working with Galaxy FinX, which is our first partnership in Vietnam and our first with an entirely virtual-bank builder in Southeast Asia, There is tremendous growth potential for digital-only banking in Vietnam and across Southeast Asia, where millions of consumers and small businesses remain unbanked or underbanked. Our technology is ideally suited to helping pioneers like Galaxy FinX design and deliver products that meet the needs of digitally-native customers in Vietnam and beyond." -John Mitchell, CEO and Co-Founder of Episode Six. As a virtual-bank builder, Galaxy FinX will offer financial-service products, such as savings, lending, payments and insurance, digitally to Vietnam's growing consumer base. Episode Six will provide a market-tested backbone for Galaxy FinX's card services, allowing the new company to process payments and configure products to adapt to changing market conditions. Partnering with Episode Six also gives Galaxy FinX the flexibility to grow its business and focus on customers and evolving market dynamics rather than on underlying tech developments. Within this decade, the ongoing and worldwide shift from physical to digital represents hundreds of billions of dollars of value in the banking industry alone. Asia's emerging economies are at the cutting edge of these trends; Singapore as an advanced economy is already innovating in the space but look for even greater acceleration in neighbouring Malaysia, Thailand, and Indonesia as well as Vietnam. Digitalization is rapidly transforming the payments landscape for businesses and consumers. Research from IDC predicts that by 2030, 80% of global consumer payments will transact on mobile and connected devices and will not be processed by traditional institutions. Episode Six is a provider of the payment rails that make this transition possible. Vietnam is especially ripe for change because cloud- and mobile-based banking is quickly becoming a standard in the country, where large sections of the population have lacked access to traditional checking or savings bank accounts historically. According to data from Merchant Machine, Vietnam is the world's second-most unbanked nation. Together, Episode Six and Galaxy FinX will help change that dynamic. Episode Six's Tritium platform provides a comprehensive set of more than 550 APIs that facilitate innovation and customization for its clients. Its natively global solution handles different languages, currencies and country-specific regulatory requirements, and is adaptable for cloud or on-premise hosting options for real-time transfer across multiple asset classes, including fiat currencies, and other value storages, such as loyalty and reward points. About Episode Six Episode Six is a payments technology company that gives banks, fintechs and brands the freedom to design and bring leading digital payment propositions to market with unmatched speed. From issuer processing to digital wallet – across deposits, credit, savings, and loyalty rewards – and account management, we power clients' payments journeys with the most flexible and adaptable platform on the market today, providing highly configurable products with user-driven tools and technology to stay ahead of, and respond to, customer demand and market shifts. Episode Six's platform is purpose-built to transfer value of any kind – fiat currency, brand value points, gold, and more. Episode Six operates globally across 25 countries with an expanding team located in the U.S., Europe, Japan, Singapore, Hong Kong SAR, and Australia. Investors include HSBC, Mastercard, SBI Investment Co., Ltd. and Anthos Capital.

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POS SOLUTIONS

SoundHound Announces First-of-its-Kind Voice AI Ordering Service for Restaurants and POS Integration With Square

SoundHound | May 23, 2022

SoundHound AI, Inc. (“SoundHound”) (Nasdaq: SOUN), a global leader in voice artificial intelligence, announced a first-of-its-kind service that will allow restaurants to automate the phone ordering process. SoundHound and Square, the globally trusted software, payments and hardware company, are partnering to integrate SoundHound's conversational AI phone ordering automation with Square’s point-of-sale (POS) systems.When a customer calls into a restaurant to place an order, the SoundHound for Restaurants™ voice assistant immediately answers the call, takes the caller’s order, accepts modifications, and sends a confirmation to complete the payment. Callers can ask for what they want through a natural language interface powered by SoundHound's advanced conversational AI technology. Seamless integration and a simple four-step setup make SoundHound for Restaurants ideal for restaurant owners looking for cost-effective ways to handle the recent trends of increasing consumer demand for take-out orders and the impact of labor shortages. SoundHound’s voice assistant answers every call—even during peak hours—eliminating the busy signal, taking multiple orders simultaneously, and seamlessly processing the order and payment through Square’s POS system. "At Square, we are seeing sellers leverage the latest technology to meet customer demand regardless of size or complexity,Our partnership with SoundHound allows us to offer innovative and cost-effective solutions to restaurants working with small profit margins and facing multiple challenges—including the high cost of rapid labor turnover and shortages. This integration provides our sellers with the tools they need to offer a consistently high-level of customer service." -Bryan Solar, Head of Restaurants, Square. To get started, restaurant owners simply connect their Square POS to SoundHound for Restaurants, sync to the menu they want the voice assistant to use, and input the phone number for the system to answer. After that, SoundHound’s voice assistant acts just like a front of house staff member—answering the phone and taking orders. "We spoke with many restaurant operators to develop SoundHound for Restaurants and received overwhelming feedback about the need for automated solutions that help restaurants process more orders and meet growing consumer demands more efficiently, Our partnership with Square has given us the opportunity to bring the power of conversational AI technology to businesses that would otherwise not be able to access the convenience and efficiencies of a voice-enabled solution.” -James Hom, SoundHound Co-Founder and VP of Products SoundHound and Square will be exhibiting the new service at the National Restaurant Show to take place May 21-24, 2022, at Chicago’s McCormick Place. As part of the unveiling of the service, SoundHound plans to offer restaurants that sign up by June 30, 2022, free subscription fees through the end of the year. To sign up, please visit: soundhound.com/restaurants About SoundHound SoundHound (Nasdaq: SOUN), a leading innovator of conversational intelligence, offers an independent voice AI platform that enables businesses across industries to deliver best-in-class conversational experiences to their customers. Built on proprietary Speech-to-Meaning® and Deep Meaning Understanding® technologies, SoundHound’s advanced voice AI platform provides exceptional speed and accuracy and enables humans to interact with products and services like they interact with each other—by speaking naturally. SoundHound is trusted by companies around the globe, including Hyundai, Mercedes-Benz, Pandora, Qualcomm, Netflix, Deutsche Telekom, Snap, VIZIO, KIA, and Stellantis. www.soundhound.com

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Spotlight

The retail market is a crucial element of the consumer finance division at Hitachi Capital (UK) PLC. As the UK’s largest point of sale finance provider, the business unit’s expertise helps retailers, from niche e-commerce outlets to high street brands, create a frictionless purchasing journey for consumers. In the last 12 months alone, we lent £2.3bn to 700,000 customers, processing a loan every 60 seconds. As the UK’s largest point of sale finance provider, we need to understand and tackle the challenges that influence the customer purchase journey so that we can give our customers the right products and advice to enable business success both in the short and long term.

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