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CompanyProfile

Blazing the POS trail

ompanies focused on powering the POS have
evolved significantly in the last two decades,
with today's solutions hardly resembling the
C old-fashioned combination of stand-alone,
over-the-counter terminals and embedded gateway appli-
cations. Cloud-based POS solutions provider Vend exem- ISO/MLS contact:
plifies this transition.
Jake West
Vend is among a new breed of solutions providers that Director, Business Development
would never claim to be payments companies. Rather, jake.west@vendhq.com
Vend touts itself as a venture-backed, award-winning 970-799-3642
global provider of cloud-based POS technology. Its
platform is compatible with a variety of Internet-
enabled POS devices, has been pre-integrated with a
host of payment processing providers, and includes a introduced as a POS, it elevates the conversation and
complement of data and inventory management tools, the provides a strategic advantage," he noted. "The partner
company noted. has the chance to talk about business processes, saving
time, saving money, and in some instances, loyalty
Based in Auckland, New Zealand, Vend has branches programs and making more money."
in five major markets worldwide, including Canada
and the United States. Jake West, Vend's director of Customer-focused backbone
business development said, "Vend was founded in 2010 The Vend payment gateway supports numerous payment
as the world's first retail, cloud-based POS solution. devices and operates via individual integrations through
The company has since grown to over 25,000 merchant the major processors. The processors handle delivery
locations across the world, 11,000 of which are in North of all back-end data, and merchants' access information
America." through the Vend reporting dashboard. "Our robust
dashboard includes everything from cost-of-goods sold,
Since its inception, the company has raised over 63 million to inventory, to historical reporting," West said. "We also
in funding, and its technologies have been recognized have an actionable insights (AI) feature called DOTT that
by Deloitte, American Business Awards and the New gives the merchant valuable business intelligence needed
Zealand Hi-Tech Awards, West noted. Additionally, to plan and grow."
the Vend website states that the company was built to
provide "cloud-based POS software to help retailers build DOTT is available to Vend merchants at no charge and
thriving businesses, live more fulfilling lives, and create is geared for small to midsize business (SMB) owners.
experiences that people love." "DOTT uses personalized AI parameters to help the

Empowering the reseller SMB merchant understand the data in a customized way,
enabling them to make smarter business decisions," West
Vend began as a business-to-business vendor focused on said. He added that Vend's inventory database is tailored
the merchant. "Up to a year and a half ago, most of our for merchants with 1,000 or more products to manage
customers found us online, but this arena has become and includes deep inventory management features, along
more competitive, so we decided to start a new reseller with robust inventory reporting capabilities.
program," West said. Vend doesn't share residuals with
partners; instead, it uses a "distribution versus residuals" Looking ahead
model, West added. He indicated the arrangement helps West indicated Vend's ongoing growth will focus on its
Vend stay payment agnostic and opens the door to partner lead strategy, working with payment companies
competitors like Shopify and Square. that have merchant relationships and need to bundle in
robust POS features.
"The versatility of the model enables Vend to provide the
best solution for the merchant," West said, adding that the "Vend is excited to enable payment resellers with a
no-residual arrangement keeps "all of our relationships powerful POS solution that provides long-term value,
intact and partner-friendly." increased revenue and decreased merchant churn," West
said. "Vend is growing quickly and plans to hire 100 folks
West also believes the model gives Vend partners this year, with our main focus in the U.S. payment reseller
the opportunity to guide the sales discussion toward channel, which has now become a significant part of
value and away from price. "When our product is Vend's business."

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