TIDMVNET
Vianet Group PLC
21 March 2023
Vianet Group plc
("Vianet" or the "Group")
Vianet partners with Vendekin Technologies in strategic move to
introduce mobile checkout experience for unattended retail in the
UK, with plans for European expansion in the near future.
London, United Kingdom, 21 March 2023 : Vendekin Technologies
('Vendekin') and Vianet have partnered to introduce a mobile
checkout experience for unattended retail in the UK, with plans for
expansion into other parts of Europe over time. This innovative
technology enables customers to make purchases by scanning a QR
code displayed on the machine using their mobile phones, without
requiring an app or an internet connection at the machine.
Vendekin's patented technology provides a secure and reliable QR
code-based mobile payment solution for unattended retail. Their
technology is compatible with a wide range of unattended retail
machines, including vending machines, electric vehicle chargers,
car washes, amusement parks, and more.
End-to-end contactless payment, telemetry, and vending
management software provider Vianet , will be integrating
Vendekin's technology into their existing platform, SmartVend. The
integration of Vendekin's mobile payment solution with Vianet's
SmartVend back-office management software will enable operators to
track sales data and inventory levels in real-time, to optimize
machine performance, and improve the overall customer
experience.
"We are excited to partner with Vianet to bring our mobile
payment solution to drive further growth into the unattended retail
market in the UK," said Mr. Aroon Khatter, Founder and CEO of
Vendekin Technologies. "Our disruptive technology will provide a
seamless mobile checkout experience for customers and help
operators increase their sales with a lower capital outlay"
James Dickson, CEO of Vianet Group PLC, commented, "We are
delighted to be partnering with Vendekin Technologies to offer our
customers an innovative mobile payment solution that is quick,
secure, and convenient. This partnership will strengthen our
growing presence in the unattended retail industry by allowing us
to expand our offerings and provide our customers with the latest
technology."
The partnership between Vendekin and Vianet is expected to drive
innovation and disruption in the unattended retail industry in the
UK and beyond. The new mobile payment solution will transform the
customer experience and drive growth for operators.
Enquiries:
Vianet Group plc
James Dickson, Chairman & CEO Tel: +44 (0) 1642 358
Mark Foster, CFO 800
www.vianetplc.com
Cenkos Securities plc
Stephen Keys / Camilla Hume Tel: +44 (0) 20 7397
8900
www.cenkos.com
Investor enquiries:
Dale Bellis Tel: +44 (0) 20 7397
8900
About Vianet
Vianet Group capture and process operational data to produce
critical insight, analysis and actionable information enabling
customers to transform business performance.
Since its Admission to AIM in 2006, the Group has grown from its
core beer monitoring business to widen its offering and develop new
businesses, especially in vending telemetry and contactless payment
solutions particularly for the premium coffee sector.
Servicing over 300 customers across the world and rendering live
data to our IOT platform from a footprint of over 250,000 connected
devices daily, Vianet is one of the largest business to business
(b2b) connected solutions providers in Europe with established
long-term relationships with blue chip customers and growing
recurring revenues which are over 85% of our total revenues.
In our Smart Machines division, we connect a single data
gathering device to a customer's asset or system. The device then
sends data back via our IOT platform to cloud based servers. The
flexibility and functionality of the device means the technology
can be applied to any machine which has the capability to output
data. In our award winning end-to-end solution the device is also
used to connect our contactless payment solution and communicate
payment terms to our cloud-based payment services providers.
The Smart Zones division is where we connect multiple data
gathering devices into one or more systems or assets with the data
from those devices being communicated back to our IOT platform via
a single 4G LTE communications hub. The technology was originally
developed for beverage and asset management in drinks retailing but
can be utilised with any data gathering device with a digital
output such as gaming machines, utilities management. and POS.
For further information, please visit www.vianetplc.com
About Vendekin
Vendekin Technologies, founded in 2016, is a leading provider
for mobile payment checkout solutions for unattended retail that
has powered more than 10 million mobile payment transactions at
vending machines and unattended retail and is present in over 10
countries. Vendekin was founded by Aroon Khatter in 2016 and is
backed by the family offices of CP Gurnani, Vineet Nayyar, current
and former chief executives of Indian tech services giant Tech
Mahindra, angel investors Dr Charudatta Palwe and venture capital
fund Better Capital.
For further information, please visit www.vendekin.com
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