Helsinki-based start-up is
launching a unique payment service combining payments with loyalty and register
applications. The service is crowned by custom-made data analytics that offer
improved customer insights and forecasting.
Engaging customers and driving increased sales is
often challenging and requires both customer insight and top-notch customer
experience. Thus far, paying has mostly disrupted this experience – not to
mention the often-arduous search for the correct loyalty card or application.
To solve this problem, Helsinki-based start-up company Palofy Analytics is
bringing a payment application working directly on the payment terminal, which
allows the customer to join with just one click. In the future, all Mastercard®
and Visa® payment cards function as a loyalty card, no
registration is needed. The card data is tokenized and leave no identifiable
information in the system.
Palofy Analytics’ service includes a modern
Android-based payment terminal with NFC and EMV card reader, 5’’ colour touch
screen, receipt printer, loyalty application, as well as a possibility for
register application, all functioning on a single device. Bringing applications
to payment terminals is a big step in payment service development and
simplifies selling.
The company has started a pilot project in July, and
the service is in test use in multiple businesses. “We are excited about the
pilot and bringing this new service to our customers. The preliminary data
looks excellent, and we know that our service makes a difference and boosts
sales by a minimum of 10 %”, comments Palofy Analytics CEO Tomi Taalikka. “I’m
especially thrilled that we can offer this new kind of customer loyalty
application to our customers; loyalty programmes have been proven to increase
sales and help merchants to lower their customer acquisition costs.” he continues.
Palofy Analytics will not be the cheapest option on
the market, but it will boost sales. “Our payment terminal and service are not
an expense to the business, they increase revenue” Taalikka says. “We have
carefully developed the service, and now that we are heading towards “normal”
times, it is a good time to enter the market” he continues.
Taalikka reveals, that the custom-made data analytics
and forecasting service brings visualised analysis, a tool for which previously
only the big players had resources, to small and middled-sized businesses. “Our
customers will enjoy daily visualised sales and forecasting reports, that in
addition to analysis give also concrete suggestions based on the analysis.”
Besides the exact data from the register application
and loyalty data, the service also utilises third-party data sources, that
support the sales forecasting. For example, weather forecasts, events &
holidays, and regulations have an enormous impact on businesses, especially restaurants.
Being able to predict the sales is crucial for ordering produces and products,
planning the work lists and marketing. Palofy Analytics’ mission is to help
businesses operate more efficiently and anticipate the upcoming demand, thus
increasing sales and decreasing costs.
Chairperson Thandia Pomar Zurita is looking forward to
the data analytics development: “Our data analytics programme will reform the
industry. Bringing AI-based analysis and forecasting to small and medium-sized
businesses, in a simple, visual, and easy-to-read form is a service, that no
one else offers.”
“Of course, there are multiply analytics tools
available, but we deliver analysed reports that support the decision-making
processes and automatise many time-consuming routine tasks”, Pomar Zurita
continues. Palofy Analytics has several experts, whose knowledge and experience
are utilised in building a world class service. “Finland is a good starting
point, and then at a quick pace expand to other Nordic countries and to
Baltics” Pomar Zurita adds. The company is aiming to be the number one payment
service provider for restaurant industry by the year 2025 and achieve 20 per
cent market share in other industries in Finland. Data analytics service has
been built with the expansion in mind.
The pilot phase has started in July 2021, and the
service will be launched commercially soon.
About Palofy Analytics Oy
Palofy Analytics’ services consist of PAX Techologies
A920 Android payment terminal, Mastercard®
and Visa® acquiring, loyalty
and register applications, and data analytics and forecasting services.
Palofy Analytics is owned by the management and Random
Ventures, an investment company owned by Mr. Peter Vesterbacka and Mr. Kustaa
Valtonen, who are currently best known for their Finest Bay Area tunnel
project. The chairperson in the company’s board is Ms. Thandia Pomar Zurita,
former COO of Homerun Technologies Oy (Kodit.io). Tomi Taalikka, a serial
entrepreneur is the CEO. Several restaurant and event business professionals as
well as experts in payment and customer loyalty services have been involved in
the development process of this service.
The acquirer is Maltese Credorax Bank Limited, and
Palofy Analytics acts as their independent sales organisation in European
Union. www.credorax.com
To learn more, visit www.palofy.com
Press contact
Tanja Heikkinen, Communications Manager
Phone: +358-40-556 0070
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