Month: June 2024

Integration and Customer Support Emerge as Crucial Factors in Merchant Preferences for Payment Solutions

Philadelphia, Pennsylvania, June 25, 2024 (GLOBE NEWSWIRE) — A recent survey conducted by FreedomPay, a global leader in Next Level Commerce solutions, in collaboration with Toast, a leading cloud-based restaurant management software company, has unveiled crucial insights into the top priorities for enterprise hospitality leaders. The findings emphasize the importance of data security, system integration, and growth enablement in shaping merchant preferences and trust in payment solutions and point-of-sale (POS) providers.

Key Insights from the Survey:

• 53% of merchants face challenges in deciding where to allocate their technology budgets, highlighting the demand for integrated solutions that offer comprehensive value and support informed decision-making.
• The biggest factors that contribute to trust in a payment solution/point of sale (POS) provider are the quality of customer support (49%), user-friendliness (46%), reliability (44%), and integration capabilities (44%).
• Almost all merchants believe data security (100%) and data privacy (98%) are highly important when selecting a payment solution, while most believe growth enablement (82%) and speed (81%) are highly important.
• Organizations are already implementing a high level of integration between their payment/POS systems and other software systems. Most merchants say they have either fully integrated (15%) or have a very high level (70%) of integration between these systems. Almost all merchants (98%) place strong value on an integrated payment solution

“The survey with Toast highlights that integration, understanding customer behavior, and ensuring security are paramount for merchants,” said Nate Ware, SVP Sales & Digital Development at FreedomPay. “This also shows that most merchants are striving for a fully integrated ecosystem to drive growth and enhance operational efficiency. At FreedomPay, we are committed to providing the integration and security that merchants need to thrive and succeed.”

Understanding customer behavior, including shopping and purchasing patterns, is key to enhancing the customer experience and driving sales. Additionally, merchants are prioritizing security and minimal system downtime to safeguard operations and ensure business continuity. The availability of responsive and reliable customer support significantly contributes to fostering a sense of security and trust among merchants.

“The survey really underscores merchants’ need for seamless integration and a thorough understanding of customer behavior to fully enhance operational efficiency,” remarked Kelly Esten, GM of Enterprise at Toast. “For merchants, prioritizing robust data security and reliable customer support is crucial for fostering trust with customers.”

These insights highlight that seamless integration, robust data security, and reliable customer support are essential for merchants aiming to enhance operational efficiency, foster trust with customers, and drive sustained business growth in today’s competitive landscape. These factors form the cornerstone of strategic decision-making for enterprise hospitality leaders as they align their technology investments with long-term success and customer satisfaction.

To learn more, download the full report: The Security Tightrope: Balancing Innovation and Risk Management for Enterprise Brands

About FreedomPay:

FreedomPay’s Next Level Commerce platform transforms existing payment systems and processes from legacy to leading edge and enables merchants to unleash the power of pay. As the premier choice for many of the largest companies across the globe in retail, hospitality, lodging, gaming, sports and entertainment, foodservice, education, healthcare and financial services, FreedomPay’s technology has been purposely built to deliver rock solid performance in the highly complex environment of global commerce.

The company maintains a world-class security environment and was one of the first payment solution providers in North America to be validated by the PCI Security Standards Council. FreedomPay’s robust solutions across payments, security, identity, and data analytics are available in-store, online and on-mobile and are supported by rapid API adoption. The award winning FreedomPay Commerce Platform operates on a single, unified technology stack across multiple continents allowing enterprises to deliver an innovative Next Level experience on a global scale. www.freedompay.com 

About Toast:

Toast [NYSE: TOST] is a cloud-based, all-in-one digital technology platform purpose-built for the entire restaurant community. Toast provides a comprehensive platform of software as a service (SaaS) products and financial technology solutions that give restaurants everything they need to run their business across point of sale, payments, operations, digital ordering and delivery, marketing and loyalty, and team management. We serve as the restaurant operating system, connecting front of house and back of house operations across service models including dine-in, takeout, delivery, catering, and retail. Toast helps restaurants streamline operations, increase revenue, and deliver amazing guest experiences. For more information, visit www.toasttab.com.

Jennifer Tayebi
Hill & Knowlton for FreedomPay
+1 734 395 0780
jennifer.tayebi@hillandknowlton.com

GlobeNewswire Distribution ID 9168606

FII PRIORITY Rio de Janeiro

FII PRIORITY Rio de Janeiro

RIO DE JANEIRO, June 25, 2024 (GLOBE NEWSWIRE) — The third and final day of the FII PRIORITY Rio de Janeiro Summit concluded with pivotal discussions on global economic growth and sustainability. Organised by the FII Institute, the summit attracted nearly 1,500 global leaders, innovators, and entrepreneurs who participated in over 65 sessions. Delegates attended solution-focused conclaves, and observed FII Institute’s first Innovators Pitch, setting the stage for the final series at FII Institute’s 8th flagship Future Investment Initiative (FII) in October.

The day began with a fireside chat with His Excellency Geraldo Alckmin, Vice President of Brazil, who addressed foreign direct investment and the global energy transition. He remarked, “Brazil received the second-highest foreign investment in the world during 2023, trailing only the United States. Our recent tax reforms are expected to enhance this further,” he told the audience, setting a collaborative and forward-looking tone for the day.

Another highlight was the session titled ‘Message to the G20’, featuring a thought-provoking discussion with five former Latin American leaders, moderated by FII Institute CEO Richard Attias. H.E. Felipe Calderon, Former President of Mexico; H.E. Laura Chinchilla, Former President of Costa Rica; H.E. Alberto Fernández, Former President of Argentina; H.E. Jorge Quiroga, Former President of Bolivia; and H.E. Juan Manuel Santos, Former President of Colombia and Nobel Peace Prize Recipient, encouraged attendees to be the change they want to see in the world, emphasising the importance of collective effort in combating climate change and upholding the rule of law for a prosperous future for all.

Marcelo Claure of Claure Group and SHEIN emphasised the importance of equitable access to AI, noting, “AI is the great equaliser. We can bridge the divide between emerging and developed markets in education and healthcare.” Commenting on the future of AI and its integration within various industries, Claure added “with the internet, the cost of information went down to zero and disrupted the advertising business. Then, ecommerce disrupted the retail space. My vision of AI is that it will disrupt all, other untouched industries.”

In a session titled ‘Rulebreakers: What Global Megatrends Are Influencing the World’s Top Investors?’, Claure was joined by Sir Martin Sorrell of S4 Capital, who discussed the need for adaptation to technological advances, stating, “Henry Ford created the five-day working week. COVID-19 accelerated the shift to remote working. Now, technologies like AI and the Metaverse will push this evolution further.”

In keeping with Rio de Janeiro’s entrepreneurial spirit, the summit saw FII Institute’s first-ever Innovators Pitch Competition. Nine startups presented solutions to pressing global issues in AI & Robotics, Education, Healthcare, and Sustainability. Hera Health Solution emerged as the main winner, a startup focusing on an AI-enabled drug delivery platform, with Aravita securing the People’s Choice award. The startup offers an optimised fresh food ordering service with AI, reducing waste and stockouts to boost grocer profits.

Throughout the summit, FII Institute convened industry experts to address critical global issues in its conclave series, covering topics such as AI, ocean regeneration, energy transition, and ESG. Industry leaders advocated for a collaborative approach to sustainability, the deployment of AI in emerging markets, and ESG’s focus on climate resilience. Emphasis was placed on inclusive policies, targeted investment, and mentorship to empower entrepreneurs in developing regions.

With the closing of FII PRIORITY Rio de Janeiro Summit, FII Institute will now shift its focus to the forthcoming 8th FII in October, where the momentum generated in Rio will continue to drive impactful discussions and initiatives. The conference is slated for 29 to 31 October 2024, under the theme ‘Infinite Horizons’.

E-mail: media@fii-institute.org

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/aa4962dc-9bf3-47d8-987d-0ab8074d1f1b

GlobeNewswire Distribution ID 1000968187

President Luiz Inácio Lula da Silva, 39th President of the Federative Republic of Brazil

President Luiz Inácio Lula da Silva in FII PRIORITY Rio de Janeiro

RIO DE JANEIRO, June 25, 2024 (GLOBE NEWSWIRE) — The inaugural three-day Latin America FII PRIORITY Summit, powered by FII Institute, commenced on Tuesday at the Copacabana Palace Hotel in Rio de Janeiro. Convening global officials, along with business leaders from various sectors, the event will tackle pressing issues under the theme “Invest in Dignity.” The Summit welcomed over 1,500 delegates, who attended 66 sessions featuring more than 190 speakers.

The opening ceremony included remarks by the CEO of FII Institute, Richard Attias; His Excellency Yasir Al-Rumayyan, Governor of the Public Investment Fund, Chairman of Saudi ARAMCO, and Chairman of the Board of FII Institute; and the President of the Republic of Brazil, His Excellency Luiz Inácio Lula da Silva.

In his opening remarks, Attias said, “Today, we gather with a shared mission: to invest in dignity. Dignity is not just a concept; it is a fundamental human right that should be accessible to every individual, regardless of their background, economic status, or social standing.” He added, “In this room, we have the collective power to drive meaningful change. Our collaboration, innovation, and determination can transform lives and communities.”

A fireside chat with Al-Rumayyan highlighted the rising role of Brazil in global investment and economic growth. “There are 12,000 new start-ups, and 12 or 16 unicorns were created here. The potential in Brazil is really big,” he said. When asked about why FII Institute brought the summit to Rio, His Excellency said, “Why did we host the FII in Rio? The question is: Why not? This is one of the greatest cities not only in Brazil, but the world. At the same time, we will have the G20 and COP30.”

For his part, President Lula said, “We all want to make the world capable of welcoming all its inhabitants with dignity—and not just a privileged minority.” The President also highlighted Brazil’s evolving economic and investment landscapes, saying, “The choice to host FII in Rio shows that this is a sign of trust in our country from over 1,000 participants. I’m here to show that Brazil is worthy of this trust.”

The Summit’s flagship Board of Changemakers session featured several notable speakers, including H.R.H. Ambassador Reema Bandar Al-Saud, the Saudi Ambassador to the United States; Magda Chambriard of Petrobras; Marcelo Claure of Claure Group and SHEIN; Bernard Mensah of Bank of America and MLI; Secretary Mike Pompeo, 70th Secretary of State of the United States and Executive Chairman of Impact Investments; and Sir Martin Sorrell of S4 Capital Group.

During the session, Princess Reema stressed the importance of dignity as a collective responsibility, further underscoring the theme of the summit. She said, “We all have a responsibility for the way we speak, think, and engage with people. Dignity is an individual concept, but it is a collective responsibility.” For her part, Ms. Chambriard noted Brazil’s role in the broader global context in maintaining citizen dignity, saying, “The idea is to exercise the power of using all the Brazilian resources and investing based on the respect of the Brazilian society.”

Visionary Brazilian entrepreneur and media personality Luciano Huck and Cecilia Attias, who is Senior VP of Public Affairs and Board Member, RA&A, and Founder and President of the Cecilia Attias Foundation for Women, covered the intersection of media, politics, and responsibility towards both. During the Titan of Industry session, Huck stressed that “The privilege of speaking to 35 million people on global TV is the freedom of speech. I do not treat it as power, but a tremendous responsibility.”

Executives from Goldman Sachs, Franklin Templeton, Morgan Stanley, and Patria Investments set the tone for the rest of the day in a session tackling global market volatility and disruptions and the impact on investors. Exploring a range of approaches, from backing national champions to diversifying across asset classes, the discussion centred on ways to build resilient portfolios, with key insights shared by prominent industry leaders.

Among the notable announcements of the first day of FII PRIORITY Rio de Janeiro, Richard Attias, CEO of FII Institute, announced the Institute’s latest flagship initiative, FII Institute TV. Set to launch fully in the coming months, FII Institute TV is a 24/7 platform offering enhanced content curation, in-depth interviews with global leaders, and expert analysis.

Furthermore, FII Institute’s strategic partner, THIQAH, made a significant announcement for BRICS+ countries, launching their “Certificate of Origin” platform in Brazil in collaboration with CICIBAS. The platform enables exporters and manufacturers to issue and track the status of certificates of origin for manufactured products through a single electronic platform, contributing to a transformation in the commercial and industrial sectors.

E-mail: media@fii-institute.org

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/13c76081-cfa1-42b5-af6f-3edc96d21d1b

GlobeNewswire Distribution ID 1000968141