Standard AI acquires Skip

Monday 6 February 2023 09:35 CET | News

Retail solutions provider Standard AI has signed a definitive agreement for the acquisition of self-checkout solutions provider Skip to combine self-checkout with autonomous retail.


Following this announcement, the company is set to connect self-checkout with AI-powered autonomous checkout into one integrated experience, looking to enable retailers who are looking for a solution for labour pains with a self-checkout option.

Furthermore, Standard AI is going to integrate Skip’s cloud-based point of sale (POS) with the complex back-office ecosystem with an aim to simplify operations and provide increased control over price, discounts, and promotions, amongst others.

Retail AI and how the acquisition falls into place

Retail AI has helped transform what is possible within a physical store. As detailed in the press release, retailers leverage Standard Checkout, part of the Vision OS^ platform, looking to change existing stores into check-out-free retail experiences, as it provides fast and accurate time-to-receipt, as well as insights related to store operations, all from one platform.

Hiring and retaining talent has been a predominant challenge for retail, as it can limit growth and store performance. This has resulted in a renewed energy for self-checkout (SCO) as a strategy for retailers looking to solve labour-related challenges. Aiming to be an innovator within the self-checkout space, Skip provides sleek, easy-to-install kiosks and mobile solutions.

Retail solutions provider Standard AI has signed a definitive agreement for the acquisition of self-checkout solutions provider Skip to combine self-checkout with autonomous retail.

Looking to bridge the gap between self-checkout and autonomous retail, Standard AI connects the two, enabling retailers to offer innovative checkout experiences to the entire customer base. Furthermore, shoppers will be provided with a way to access autonomous retail experiences through the self-checkout kiosks, helping ensure a smooth transition to the future of shopping. Additionally, the Skip kiosks can be installed in a quick and affordable manner, while offering extensive functionality.

Skip officials advised that the company has aimed to differentiate itself within the self-checkout solutions field and, apart from being modular and easy to install, it delivers all the functionality retailers require at a fraction of the cost of its competitors. Following the Standard AI integration, the company aims to take their kiosks to ‘the next level’ and work on solutions that will exceed them and help create the future of autonomous checkout.

As detailed in the announcement, later in 2023, Standard AI is set to bring to market a platform that connects self-checkout with autonomous retail. Furthermore, the company is set to continue selling Skip standalone or together with its Vision OS^ offering, with retailers now being enabled to choose to:
  • Get Skip: Standard AI will provide Skip as a standalone option for stores that require a fast and inexpensive self-checkout unit to offer increased support and flexibility to their in-store teams;

  • Get Vision OS^ with an option for Skip: Standard AI will provide the option of a Skip kiosk together with the Vision OS^ platform for stores that want instant relief from labour challenges and a changed retail experience, meaning that users will get the SCO an autonomous checkout experience in one solution.

Standard AI’s addition of Skip’s self-checkout solutions is believed to help create a suite of capabilities to address varying levels of retailers’ needs, from traditional SCO to fully autonomous stores and hybrid stores in-between. Furthermore, Skip’s cloud-based point-of-sale system and back-office integrations are believed to help simplify retailer implementations, in particular for stores operating hybrid models that include a fixed register with self-checkout or autonomous capabilities.

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Keywords: acquisition, ecommerce, ecommerce platform, retail, artificial intelligence, checkout optimisation , merchant, cloud services, POS, payments
Categories: Payments & Commerce
Companies: Skip, Standard AI
Countries: World
This article is part of category

Payments & Commerce



Standard AI

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