FinancialNewsMedia.com News Commentary
PALM BEACH, Florida, Feb. 28, 2019 /PRNewswire/ -- The trend for restaurants and banks alike, is to not only provide better services to clients but also to utilize POS applications to better utilize data about customers to increase their revenues. In fact, those companies that do not utilize POS services/applications, will lose ground on their competitors by not maximizing their revenues. A recent industry article focused on banks, has said: "Every bank who is in the checking account business should partner or own a solution for their merchants or they will lose those merchants very quickly… (and that) there is no one size fits all POS solution…" Another industry source article focusing on restaurants states: "The customer is powering the point of sale as we move into 2019, and tech and trend prognosticators agree that guest preferences are driving what the POS of the future will look like. As restaurants grapple with how to enable more and more ordering channels and fulfillment from in-store, drive-thru, curbside and delivery, they are facing a — perhaps uneasy — reality in which sales are up despite a decline in in-store traffic… The next-generation point of sale is being shaped by the call for the POS to be all things for all people. To achieve this, suppliers and operators must pinpoint customers' biggest pain points and solve for that. Active Companies in the industry include NetCents Technology Inc. (CSE:NC) (OTC:NTTCF), Pivotal Software, Inc. (NYSE: PVTL), Square, Inc. (NYSE: SQ), Fiserv, Inc. (NASDAQ: FISV), Pareteum Corporation (NASDAQ: TEUM).
This year's results indicate that restaurants are preparing to take an active role in the evolution of the POS. More than half are testing and researching new POS solutions for 2019 and beyond, and 46% plan to add functionalities to current software in 2019. About two out of five (39%) operators are focusing on putting the POS on mobile in 2019 and more than half (58%) say adding mobile POS is a top business driver influencing next POS upgrades. Of the top three business drivers that will be prompting POS enhancements, two — adding mobile POS and enabling new payment options — speak to a bigger issue: providing customers with frictionless ways to pay, wherever and however they want.
NetCents Technology Inc. (CSE:NC) (OTCPK:NTTCF) (Frankfurt:26N) BREAKING NEWS: NetCents Technology is pleased to announce that it has entered into a five-year ISO Reseller Agreement with a leading merchant service and POS terminal provider (MSP).
MSP is partnered with Apple Pay® and Android Pay® to process transactions on Verifone® and GROOVV POS systems to allow merchants to be fully EMV compliant and accept a multitude of payment options including VISA, MasterCard, Discover, American Express, and Apple Pay, and now, cryptocurrency.
MSP will be bundling the NetCents merchant gateway and cryptocurrency credit card program into their services to be rolled out to their merchant base. MSP is working with one of their enterprise-level merchants with the intent to introduce a white label of the NetCents cryptocurrency credit card program to the merchants network of over 100,000 users, a new milestone for the Company.
This ISO agreement represents the 20th partner agreement that the Company has signed since it announced the launch of its four partner programs last August, including: Enterprise White Label, ISO Reseller, and Technology agreements. Through these signed contracts, NetCents has access to hundreds of thousands of merchants, 100's of ISO's, millions of users, and a sales force of 100's of sales agents actively selling NetCents to their merchant and user bases and the onboarding phase of these merchants and users continues. Read this and more news for NetCents at: https://www.financialnewsmedia.com/news-nc/
Other recent developments in the tech industry include:
Pivotal Software, Inc. (NYSE: PVTL), a leading cloud-native platform provider, stated it will report financial results for the fourth quarter and full fiscal year 2019 ended February 1, 2019 after market close on Thursday, March 14, 2019. Pivotal will also host a conference call on that day at 2:00pm PST (5:00pm EST) to discuss the results. a live audio webcast will be accessible on Pivotal's investor relations webpage. A replay of the webcast will be available following the conference call. Pivotal combines our cloud-native platform, developer tools, and unique methodology to help the world's largest companies transform the way they build and run their most important applications. Our technology is used by Global 2000 companies to achieve strategic advantages in software development and IT operations.
Square, Inc. (NYSE: SQ) recently announced the launch of Square Card, a free business debit Mastercard that helps businesses manage their cash flow by eliminating the time between making a sale and having the funds available to spend. Square Card also encourages commerce among the small business community by offering sellers a 2.75% instant discount on purchases made at other Square sellers. "As sellers make crucial spending decisions, we know that fast access to funds -- and the ability to put proceeds from sales to use immediately -- can help with overall cash flow management," said Alyssa Henry, Seller Lead at Square.
It has also recently announced that it will release financial results for the fourth quarter of 2018 on February 27, 2019, after market close. Square will also host a conference call and earnings webcast at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on the same day to discuss these results. The live webcast of the call can be accessed from Square's Investor Relations website.
Fiserv, Inc. (NASDAQ: FISV) On February 25, the company, a leading global provider of financial services technology solutions, announced its role as a sustaining member of the Financial Data Exchange (FDX), a non-profit group formed to establish information sharing and security standards for the financial sector. Fiserv brings decades of data aggregation expertise and experience to the group and will have a seat on the board.
"In the financial services industry, security is non-negotiable and standardization makes data more reliable and useful for providers as well as consumers," said Don Cardinal, managing director, Financial Data Exchange. "We look forward to the ongoing participation and contributions of Fiserv as we work to unify the financial sector to facilitate easy and more secure exchange of information."
Pareteum Corporation (NASDAQ: TEUM) On February 26, the company, a rapidly growing global cloud software communications platform company with a mission to connect every person and every(thing)™, announced that it has closed a US$50 million committed senior secured credit facility with Post Road Group to enable rapid growth of operations domestically, and abroad, via targeted mergers and acquisitions.
Pareteum Executive Chairman and Principal Executive Officer Hal Turner commented, "During 2018, we showed our ability to convert our contractual revenue backlog into tangible results. This financing gives us a new currency with which to support our aggressive market consolidation through accretive acquisitions and organic growth strategy and improves leverage in the business to respect the value that management places on equity. The facility will allow us to continue on our current growth trajectory in 2019 and the future."
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