Vianet partners with Vendekin Technologies

RNS Number : 5848T

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 Mark Foster, CFO	Tel: [phone] www.vianetplc.com
Cenkos Securities plc
Stephen Keys / Camilla Hume	Tel: [phone]
	www.cenkos.com

Investor enquiries:

Dale Bellis

Tel: [phone]

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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