Revel Systems has entered into a non-equity strategic partnership with global payment processor Worldpay to create and deliver a more comprehensive set of payment solutions for Revel customers.
The partnership, while not exclusive, will help San Francisco-based Revel deliver new point of sale technology to customers as it does battle in an increasingly crowded market of fintechs such as
The initial services Revel will offer via the partnership include a more seamless onboarding process for clients and access to Worldpay’s Fast Access Funding for existing Revel customers.
“It’s a more strategic and deeper integration type of partnership. We expect to see more innovation and new services coming from it,” stated Erick Kobres, chief technology officer at Revel Systems.
Revel has focused its iPad POS business on what it calls four different verticals – Quick Service, Restaurant & Bar, Retail and Pizza. Three of these markets reside in an important business line for Square, which launched a product called
The competition for POS makers and payments processors to service omni-commerce businesses is strong and growing as there is a rush, particularly among fintechs, to become the next
“In today’s world of omni-commerce and the digital consumer, we can play further and deeper and at the same time provide a more seamless set of services such as onboarding,” added Kobres.
The challenge faced by store-based POS providers is that as consumers increasingly adopt mobile apps, the point of sale is moving to a digital channel even if the food or goods are delivered or picked up in-store. For example, the New York startup called
According to
