RCS - Vianet Group PLC - Vianet partners with Vendekin Technologies

VianetAnnouncement

21/03/2023 07:00

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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      Tel: +44 (0) 1642 358 800

 Mark Foster, CFO                   www.vianetplc.com (http://www.vianetplc.com)
 Cenkos Securities plc
 Stephen Keys / Camilla Hume        Tel: +44 (0) 20 7397 8900
                                    www.cenkos.com (http://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
(http://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
(http://www.vendekin.com)

 

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