POS SOLUTIONS

NewStore Charts Path for the Future of Retail with the Addition of Native Consumer Apps to the NewStore Omnichannel Platform

NewStore, Inc. | January 17, 2022

NewStore, a modular, mobile-first omnichannel cloud platform for retail brands worldwide, announced the availability of NewStore Consumer Apps. Unlike traditional retail apps, the NewStore native app solution will allow retailers to create branded mobile experiences that unify their online channels with their physical stores. This offering is an extension of the company's existing strategy of turning brick-and-mortar shopping into an app-powered, digitally connected retail experience.

The expanded functionality of the NewStore Omnichannel Platform is a result of the company's acquisition of Highstreet Mobile, an innovative consumer app provider for fashion and lifestyle brands. Effective immediately, Highstreet will operate under the NewStore brand.

"Stephan has a proven track record of identifying opportunities that others have missed, and this is another example of his vision for the future of retail coming to life, Retail apps are not a new concept, but few brands have gotten this channel right. They aren't meant to replace the website or mobile web experience. Instead, they should complement those channels and create a powerful new place for consumers to bond with the brands they love."

- Thijs van Schadewijk, Founder, Highstreet Mobile.

NewStore is now the most complete omnichannel solution, including point-of-sale, order management, inventory management, clienteling, and native consumer apps. The platform can be adopted all at once or modularly, depending on the brand's omnichannel maturity. NewStore powers more than 50 retail brands globally, including recent additions such as G-Star RAW, Scotch & Soda, Vince, Moose Knuckles, Tom Tailor, and Boardriders. ROXY will be the first retailer from the Boardriders portfolio of brands to deploy a NewStore Consumer App.

"I joined Boardriders as the global CIO to oversee and manage all aspects of the companies' global footprint of wholesale, ecommerce, and retail operations. A key strategic component of this is the digital transformation of the brands' retail operations, and adding a consumer app is a natural extension of our omnichannel journey, which includes a multi-brand loyalty program with NewStore, Until now, no one has been able to offer a solution that seamlessly connects our digital and physical experiences to the consumer. We were drawn to the new offering because NewStore makes it easy for existing customers like us to deploy a rich consumer app that integrates out-of-the-box with the rest of the platform's features."

- David Berry, CIO, Boardriders.

It has never been more important for retailers to create digital engagement across the entire shopping journey. This includes ecommerce channels, stores, associates, and customers. By combining everything from mobile shopping functionality, mobile in-store tools, and loyalty capabilities, with features like clienteling, push notifications, and custom content, NewStore can provide rich, curated branded app experiences that consumers can carry around in their pocket.

"For the first time, there's going to be a connection between an omnichannel store experience and a consumer app where the shopper can interact with a store, like a remote control for the brand, The future of retail is going to be more connected, and NewStore can now help brands provide amazing shopping experiences, both inside and outside of the store on mobile."

- Stephan Schambach, Founder and CEO, NewStore.

Through NewStore Studio, the app content management system, retailers will have all the tools they need to build and maintain beautiful and engaging app experiences. With the NewStore Consumer App and NewStore Studio, retailers will drive business value by:
  • Deepening their connection with consumers: NewStore Consumer Apps have been proven to drive 3x higher engagement rates and create a 4x increase in value per customer. The apps also see conversion rates 2x higher than the industry standard.
  • Creating amazing shopping experiences everywhere: NewStore Consumer Apps integrate with brands' physical stores and ecommerce platforms. This allows the app experience to adapt to the customer journey — at home, on the go, or in the store.
  • Enriching the in-store experience: Store Mode automatically adapts the app UX to provide in-store services. Additionally, a direct link between the NewStore Consumer App and NewStore Associate App creates a seamless experience for both the shopper and the brand. NewStore also leverages App Clips to create in-store experiences that don't require consumers to download the full version of an app.

About NewStore
NewStore provides Omnichannel-as-a-Service for retail brands worldwide that want to accelerate their digital transformation. Built for speed and flexibility, NewStore allows brands to easily deliver amazing shopping experiences that store associates and consumers love. Its mobile-first, modular cloud platform includes POS, order management, clienteling, inventory, and native consumer apps. NewStore customers such as Burton, Faherty Brand, G-Star RAW, Marine Layer, Scotch & Soda, UNTUCKit, and Vince benefit from the most complete, global omnichannel retail solution available. The company is backed by General Catalyst, Activant Capital, and Salesforce Ventures.

Spotlight

Not all POS terminals are created equally—even when an initial look at the spec sheet makes them seem similar. The difference is what’s inside. How the terminal was designed and manufactured. The difference can have a profound effect on the experience you have with the device. Therefore, when considering the price of a POS device, it is also wise to consider total cost of ownership. Some companies design their POS systems to attain a price point. The best products are designed and manufactured—with the help of HALT and HASS testing—to faultlessly meet your needs through a life made long through a commitment to quality and durability.


Other News
POS SOLUTIONS

Payveris Introduces Loan Payments® for Financial Institutions to Offer Customers Integrated Real-Time Payment Methods & Channels

Payveris | June 18, 2022

Modern money movement leader Payveris, a division of Paymentus, today launched Loan Payments®, a cutting-edge loan and debt repayment service with the widest array of real-time payment methods and channels available on the market. Loan Payments® is designed to help financial institutions meet rising consumer demand for payment methods and channels that are speedy, convenient and secure — all while reducing operational overhead, fostering better customer engagement and loyalty. An Aite-Novarica Group survey from 2021 found that 89% of consumers want more real-time payment options from their digital banking experience. As consumers enjoy more payment choices, speed and convenience in just about every other aspect of their financial lives, they expect the same from their loan payment servicers — and aren't satisfied by the status quo from financial institutions. In fact, a recent J.D Power study found that non-bank loan servicers saw a 17% increase in customer satisfaction, while banks only saw a 4% increase. "When financial institutions make it complicated to accept and receive payments through coupon books or legacy loan payment systems, borrowers are less likely to consider them for their next loan, Providing choice, speed and autonomy is no longer a bonus, but a baseline expectation for consumers. Financial institutions must seriously rethink their loan payment experience and meet customers where they are, and Loan Payments® can help them get there. Whether that's an auto loan, a personal loan, or a mortgage, the days of consumers using a coupon book have passed." -Payveris Chief Innovation Officer Marcell King. With Loan Payments®, financial institutions can deliver a true omni-channel experience that matches what consumers have come to expect from shopping or paying bills. Payment methods supported by Loan Payments® include cash, debit card and e-check/ACH. Loan Payments® also empowers consumers to choose their preferred payment channel, whether it's online, mobile, text, PayPal app, Amazon Alexa, Walmart, or directly at their bank or credit union. In addition to more convenience and flexibility, Loan Payments® gives financial institutions' customers more control over how they automate and schedule payments, and the ability to spread their payments across multiple methods at once. Reducing overhead & driving consumer loyalty Financial institutions that offer dated loan payment experiences — in which non-deposit customers can't easily pay their loan bill online, make payments using a variety of sources, or have their payments post in real-time — accrue more overhead costs in the form of inbound phone calls. With a sub-optimal loan payment experience, financial institutions are practically inviting these costly interactions with their customer service representatives. This problem only gets worse with scale. WSECU, a Payveris customer since 2020, is one of the first financial institutions with plans to roll out Loan Payments®. "Our first priority is to improve the loan payment experience for members, making it easier and providing them more options," said Melissa Wolff, Vice President, Operations Support and Payment Services at WSECU. "Payveris is helping us do that, and that alone is a big win. But there is also more we gain, including the operational efficiencies that come from no longer managing disparate processes. Now, everything is centralized into one payment processing system, regardless of which option best meets the needs of an individual member." Financial institutions also stand to gain another avenue in which they can drive customer engagement and loyalty. Loan Payments® was first developed by Payveris' parent company Paymentus, recognized by Aite-Novarica as the "Best in Class" industry leader for Biller Direct EPPP solutions. The solution is powered by the Instant Payment Network®, the only integrated ecosystem of real-time digital bill presentment, payment, and money movement capabilities in the market. The Instant Payment Network® is currently trusted by numerous Fortune 500 companies, with more than 10 million consumers relying on it to make payments. Other key benefits Loan Payments® offers include: Guest Pay - Most financial institutions do not have a guest pay option, creating friction within the loan repayment experience for indirect customers. Loan Payments® solves this pain point, improving the user experience for the consumer while helping financial institutions convert indirect loan members into primary account holders. Alerts & Notifications - Loan Payments® has intelligent alerts and notifications sent directly to borrower's mobile devices to help them stay on top of their loan payments. Compliant & Secure - Level 1 PCI Compliant EBPP platform ensures electronic payments are secure and meet industry standards, offloading the burden and cost of compliance. Secure Service® - Cohesive call center experience that eliminates PCI scope, minimizing risk for financial institutions and protecting customer's payment information when sharing details through a mobile phone channel. About Payveris Payveris, a division of Paymentus, is the creator of the MoveMoney℠ Platform, an Open API, cloud-based platform that enables more than 265+ financial institutions to control, simplify, and extend more engaging intelligent digital payment and money movement capabilities to their users through any application or device while significantly reducing operating costs and future-proofing their IT investment.

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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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POS HARDWARE

Squirrel announces new Full-Service Restaurant Edition of the Squirrel Cloud POS at NRA 2022

Squirrel Systems | May 21, 2022

Squirrel Systems, a leading technology provider to the hospitality industry, announced the newest edition of the Squirrel Cloud POS at the National Restaurant Association tradeshow. Full service means all types of service today, and the Squirrel Cloud's Full-Service Restaurant edition was built to enable operators to better serve their guests at the table, bar, counter, curbside or via delivery – however the guest prefers. Inside the restaurant, the Full-Service Restaurant edition adds all the table service capabilities busy restaurants need such as transfers across servers, tables, and departments, sharing of items and split payments. Coursing options allow the meal to be automatically or manually paced. More uniquely, Squirrel leaned on its pedigree in sophisticated table service environments to create unique ordering workflows for tableside ordering and upscale or fine-dining discreet, terminal based-ordering. The Squirrel Cloud Full-Service Edition was honed based on feedback from the independent restaurants participating in the Squirrel Cloud Early Access program throughout 2021 and 2022. Squirrel's expertise in the enterprise full-service restaurant space also allowed for collaboration with innovative, long-time enterprise customers such as Wolfgang Puck. The team at Wolfgang Puck brings large scale, fine dining insights to the product, helping to refine the Squirrel Cloud offering for sophisticated restaurants and demanding kitchens. "Our team has been working closely with Squirrel to create a Cloud Point-of-Sale for the type of fine-dining restaurants we operate, We are looking forward to seeing our restaurants run on a modern, cloud-based Point-of-Sale platform built for enterprise restaurant customers." -Michael Lubitz, CFO at Wolfgang Puck Fine Dining. Filling out full-service restaurant needs is a curated list of newly integrated, best-of-breed partner solutions. Squirrel worked with Restaurant365, SevenRooms, Tacit Maegan and Eigen xDine online ordering to add their world-class products to the Squirrel Cloud ecosystem. Easy to use, secure, pay-at-the-table capabilities were added in conjunction with Squirrel's payment partners SHIFT4, Elavon and Eigen. The Squirrel Cloud is a next-generation point-of-sale platform built in partnership with Microsoft on Microsoft Azure® cloud infrastructure. This partnership allows Squirrel to deliver enterprise-grade reliability to its customers while accelerating the pace of feature development. "Only ten months after releasing the first publicly available version of the Squirrel Cloud POS, Squirrel's Product and R&D teams have been able to deliver the functionality required to run discerning full-service restaurants," said Jason Leeson, President of Squirrel Systems. "This is the pace of innovation that a true, modern cloud point-of-sale platform delivers to our customers." About Squirrel Systems Squirrel Systems is a leading provider of point-of-sale solutions focused exclusively on the Hospitality market. Squirrel revolutionized the industry with the first touchscreen restaurant POS system and continues to introduce market-leading innovations to help shape the industry. Visit www.squirrelsystems.com/squirrel-story to learn why Squirrel only works with food and beverage operators to enable amazing guest experiences from table to curb.

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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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Spotlight

Not all POS terminals are created equally—even when an initial look at the spec sheet makes them seem similar. The difference is what’s inside. How the terminal was designed and manufactured. The difference can have a profound effect on the experience you have with the device. Therefore, when considering the price of a POS device, it is also wise to consider total cost of ownership. Some companies design their POS systems to attain a price point. The best products are designed and manufactured—with the help of HALT and HASS testing—to faultlessly meet your needs through a life made long through a commitment to quality and durability.

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