The collaboration looks to further Invenda’s 360-approach to automated retail by incorporating an increasingly efficient, simplified, and cost-effective digital payments process. Per the announcement, Adyen’s technology is set to be incorporated to enable Ivenda Wallet, a download-free web app that facilitates mobile shopping for consumers.
Based on the information provided in the press release, the partnership follows Invenda’s USD 19 million Series B funding round and is set to further develop the Internet of Retail (IoR), a dynamic network of both in-person and online financial technology systems.
Leveraging the full IoR-connected ecosystem of Invenda Platform solutions, Invenda partners can collect unprecedented data within the shopping journey, creating increasingly customised and engaging retail experiences for consumers, while concomitantly driving sales and insights for brands and operators alike.
When commenting on the announcement, Mark Crandell, managing director of North America at Invenda stated that the automated retail industry has had the ‘if it’s not broken, don’t fix it’ mentality for a long period, and the company has the commitment towards furthering the industry. As per their statement, layering these additional services within Invenda’s platform enables automated retailers to provide payment options that address current consumer expectations.
Adding on this, Niklas Brüning, VP of business development at Adyen advised that the company is looking forward to collaborating with Invenda and bringing its payment technology to the forefront of automated retail, adding that the companies share a common mission of ‘pushing the boundaries of what’s possible’. The spokesperson believes that by combining Adyen’s expertise in payment solutions with Invenda’s approach, they can help drive innovation and value for operators and their customers alike.
A 2017-founded company, Invenda Group AG helps power the Internet of Tertail, a software, hardware, advertising, data, payment, and services ecosystem that looks to transform the automated retail industry.
A financial technology platform, Adyen provides end-to-end payment capabilities, data-driven insights, and financial products in a single solution, looking to assist businesses with achieving their ambitions in an expedited manner, working with names of the likes of Facebook, Uber, H&M, eBay, and Microsoft.
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