PopID, a fintech biometrics company, and Toshiba Global Commerce Solutions (GCS), a retail’s first choice for unified commerce solutions, have recently announced a partnership for the integration of PopPay into Toshiba’s front-end point-of-sale and self-service solutions running its ELERA commerce platform.
Industry sources added that the POPay allows consumers to authenticate their identity for payment and/or loyalty using artificial intelligence-based facial verification software. Toshiba will be responsible for distributing integrated solutions for restaurants (OSR), convenience stores, markets, and other retail segments.
Industry sources also further affirmed that a fully integrated solution will feature PopPay biometrics cameras built into Toshiba’s Pro-X Hybrid Kiosk and will be showcased at NRF 2023 taking place in New York from January 15-17, 2023. Customers who choose can scan items using the Pro-X scanner and then transact by selecting the PopPay button on the screen to have your face scanned. PopPay then authenticates loyalty and payment, without the need for a card or phone.
Industry sources further added that the ELERA platform and suite of solutions help free retailers from the constraints of legacy technology. With more control over store operations, retailers can improve efficiency and productivity at scale.
The integration of PopPay for automatic payments offers retailers numerous benefits such as faster transactions, higher throughput, and reduced payment stress for the shopper which leads to larger transactions, a higher share of loyalty driven by automation, and lower checkout rates. payment processing when integrated with point-of-sale systems, self-service kiosks, and drive-thru systems in fast-food chains.
“Whether in restaurants, convenience stores or other retail segments, consumer interest in non-traditional payment methods is growing exponentially around the world. In regions that were previously dominated by cash or card transactions, there is a clear trend for mobile payments,” said Rance Poehler, President and Chief Executive Officer (CEO) of Toshiba Global Commerce Solutions. “Even in the US, where card payments have shown strong uptake, there has been an increase in adoption of non-traditional payments. We know the market is ready for this option with Millennials and Gen Z showing a trend in this direction.”
Younger consumers have learned from previous generations that revolving credit debt is risky, therefore prompting them to pay via debit, electronic funds transfer or automated clearing house (ACH network) because there are no interest fees . According to the publication MX Report , the reduction in consumer confidence caused many respondents from Generation Z to support the growing interest in mobile payment.
The same report cites that the majority of respondents (73%) have mobile payment apps connected to their financial accounts. In addition to their aversion to credit, Millennials and Gen Z also look for greater convenience in their retail interactions. The Food Industry Association reports that 53% of Gen Z and Millennial shoppers want greater convenience in their future grocery shopping experiences.
“With nearly a quarter of US consumer spending going to Toshiba’s point-of-sale solutions, Toshiba is the largest retail-focused solutions company in the US and worldwide,” said John Miller, CEO of PopID and chairman of the executive committee of the investment firm Cali Group. “This partnership will enable Toshiba customers to leverage our technology to increase revenue, drive loyalty engagement, improve operations and reduce costs while enhancing the overall customer experience.”
“We are excited to partner with PopID to bring speed, ease of use, and convenience to retailers and their shoppers,” continued Poehler. “We look forward to rolling out PopPay in new industries to meet growing demand from retail segments.”
Also more news related to Toshiba:
Toshiba Develops SiC MOSFET with Embedded Schottky Barrier Diode
Toshiba Materials to invest for increasing capacity of Silicon Nitride Ball Production
Toshiba upgrades Line-up of Ethernet bridge ICs to support AICS & Industrial Equipment
