May 25, 2024

24img

Welcome to World technology

PayFacto Acquires Software Firm iShopFood

The Canadian payments company PayFacto has acquired iShopFood Inc., a Quebec-based firm that makes online ordering software for the restaurant industry. 

The company announced the deal in a news release Thursday (Jan. 6), saying the acquisition allowed it to “complement its current product and service offering with innovative all-in-one solutions for in-restaurant and online ordering, interactive ordering kiosks and QR-code-based payment capture.” 

It will also help the Montreal company access new markets in Canada and the U.S. 

PayFacto had previously acquired the Maitre’D and Veloce restaurant point-of-sale software systems, and says this latest move lets restaurants and food service players access a single-provider solution that connects online, mobile and in-restaurant ordering, kitchen display system and pay-at-table solutions. 

“With the acquisition of iShopFood Inc. and the complementary nature of the solutions offered by our companies, PayFacto now has a solid launch pad to power our growth in North America,” said Martin Leroux, PayFacto’s president and CEO. “We are especially proud to be acquiring a company built by young entrepreneurs and technology developers who will now share their expertise with our team.”

PayFacto notes the deal is happening in an era where the acceleration of online ordering and delivery for the restaurant and hospitality sectors is challenging many business owners. 

Learn more: Restaurant POS Consolidation Proves Systems Must Do More Than Just Process Payments

As PYMNTS reported in December, many restaurants have begun turning to different providers to meet each of their needs: POS, digital ordering, order management, marketing, etc. This creates an unruly jumble of digital systems that can’t communicate. Even if it’s easier than using a pen and a paper, it still becomes another source of stress in an already stressful time. 

It’s why some restaurant technology providers now see the opportunity to widen their offerings, pledging to make managers’ jobs easier. 

For example, aggregator and digital ordering technology company Waitr announced that it is partnering with the payment processing firm Shift4 to offer the latter’s Harbortouch POS system to its restaurant clients.

——————————

NEW PYMNTS DATA: AUTHENTICATING IDENTITIES IN THE DIGITAL ECONOMY – DECEMBER 2021

About:More than half of U.S. consumers think biometric authentication methods are faster, more convenient and more trustworthy than passwords or PINs — so why are less than 10% using them? PYMNTS, in collaboration with Mitek, surveyed more than 2,200 consumers to better define this perception versus use gap and identify ways businesses can boost usage.