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A new partnership between OpenWay, the top-ranked digital payments software vendor, and Yello, provider of the Y7 all-in-one merchant solution, closes the gap between e-comm and in-person commerce.
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Now, acquirers who run their payment business on OpenWay software can enrich their merchant offerings with real-time personalized checkout on Yello terminals.
The brick-and-mortar retail business model is undergoing a massive transformation sparked by online giants like Amazon and other BigTech companies. Consumers expect merchants to know in advance who they are, what they are likely to buy, what payment method they are going to use, and whether they have sufficient funds for their purchases. But many merchants are encumbered by decades-old technology and struggle to update their customer experience. This is why OpenWay and Yello are teaming up.
The Android-based Yello Y7 all-in-one merchant terminal is an innovative ordering and payment terminal that also acts as a marketing platform. According to statistics from Yello, restaurant self-service table-top ordering and payment using the Y7 terminal can increase table turn by 25%, average bill size by 15%, and positive guest feedback by five times. The Y7 terminal’s open architecture encompasses all the APIs and business applications needed to offer an enriched customer experience. Possible services include POS payments, loyalty, advertising, instalment plans, VAT refunds, DCC and credit. Merchants improve their checkout processes with data from apps and can offer personalized discounts and rewards. Their consumers can select their preferred payment method, whether it is card, contactless, or QR code based. At the same time, Yello terminals give better control over the merchant’s business by easily integrating business apps. So acquirers can easily target verticals such as restaurants, retail, pharmacies, medical and beauty services, delivery and public transportation.
OpenWay has completed its certification of Y7 terminals for smooth integration with Way4 Acquiring, its leading software platform run by banks, processors and retailers globally. The transaction exchange between Way4 and Y7 is based on the nexo protocol. Inherent flexibility of ISO 20022 standard used in this protocol allows more data about the customer and the purchase to be processed in real time. The supported list of payment operations on the terminal now includes all basic types, including EMV functionality, and will be further extended in the future. The Y7 terminal has undergone all the required international payments security approvals and is PCI PTS and EMV compliant. Various business applications can be installed directly on a terminal, local server or in the cloud.
“Competition in the acquiring market these days is tough. The partnership with Yello is one of many important initiatives that OpenWay is leading to strengthen our customers’ business with the latest technologies. Support of various payment methods, real-time risk monitoring, loyalty programs and instant settlement make the Way4 platform a solid foundation for customer data monetization at a point-of-sale.”
“Making our all-in-one innovative merchant solutions readily available to OpenWay customers globally through our partnership is another key milestone for Yello. In the fast-changing acquiring world, it gives OpenWay customers the opportunity to offer value added services to their merchants, with integration and pre-certification already performed. Moreover, Yello’s patented YelloCloud™ Open Browser Technology lets business applications reside securely in the cloud, providing much more flexibility than traditional embedded applications.”
“In key territories and verticals, integration projects between acquirers and Yello are close to completion. They prove that our best-in-class Android Y7 terminal enhances the customer experience and efficiency at the point of sale. It is the future for business services and payments in both attended and (increasingly) unattended solutions in restaurants, retail, medical & beauty services, delivery and public transportation."
About Yello
Founded in 2015 by Daniel Maurice-Vallerey and Mike Ausems, globally recognized experts in payments and terminals, who previously did work for Honeywell, Ingenico, SumUp, VISA and Mastercard, Yello s headquartered in Paris, with offices in Madrid and Cairo.
Yello’s mission is to build simple open tools, and payment services to help with in-person service and sales. We transform the in-person payment experience, with an all-in-one merchant terminal that is mobile and fixed, attended or unattended, makes it easy to integrate business applications and accepts any payment method to enable a fully-personalized, Amazon-like in-person e-comm experience.
Yello solutions are perfectly suited for restaurants, retail, pharmacies, medical & beauty services and public transportation.
YelloCloud™ Open Browser Technology makes it possible for the business applications to run on the terminal, on a local server or in the cloud. Our API covers the complete set of payment, non-payment and TMS functions.
Yello accepts universal payments methods EMV contact, contactless, QR codes and magstripe cards. Yello terminals also support non-EMV contactless cards for verticals such as medical and public transportation.
To find out more about Yello visit www.yelloco.com.
OpenWay is the only best-in-class provider of digital payment software solutions, and the best cloud payment systems provider as rated by Aite and PayTech. OpenWay is a strategic partner of tier 1/2 banks and processors, fintech startups, and other leading payment players around the globe. Among them are Network Int. and Equity Bank Group in MENA, Lotte and JACCS in Asia, Nexi and Finaro in Europe, Comdata and Banesco in Americas, and Ampol in Australia.
