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-commerce and in-person commerce. 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. “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,” comments Dmitry Yatskaer, CTO at OpenWay.
“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,” says Daniel Maurice-Vallerey, Yello Cofounder and Managing Director.
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