Autonomous checkout Standard Cognition acquires mapping startup

Standard Cognition is adding mapping capabilities to its autonomous checkout platform, due to the acquisition of Standard’s autonomous checkout solution utilizes cameras on store ceilings to determine what is in the store, the location of customers, and which items they possess. As part of the acquisition, Standard brings on a team of seven experienced AI engineers and mapping technology to accelerate the rollout of its autonomous checkout solution.

From the release: “We are thrilled to join forces with the Explorer team”, said Jordan Fisher, Co-founder, and CEO of Standard. “The team is highly experienced and already works well together – having them in place gives our engineering team a big edge and a running start toward applying their state-of-the-art computer vision and mapping skill sets in autonomous vehicles (AV) to retail. We believe mapping is a critical ingredient to autonomous checkout. The Explorer team has a strong record of tackling these problems together, and we’re confident that this will allow us to make rapid progress at Standard.”

Link: Globe Newswire

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Splio acquires mobile wallet tool Gowento

Splio is an omnichannel marketing platform that combines marketing automation and loyalty marketing, has acquired Gowento, a mobile wallets tool. Splio is banking the acquisition will make it a mobile customer relationship management player and grow its base of loya

From the release: “With this first acquisition, Splio changes the industry landscape and sends a clear message to the European market. While China and the USA have made advances when it comes to Mobile Wallets, today Splio stands out in Europe with the integration of the Gowento’s technology. A brand can now place mobile at the heart of its New Loyalty strategy and modernize the customer relationship without a third-party and without the need to download an app” said Mireille Messine, Chief Executive Officer, Splio. “We are very happy to welcome the talented and visionary Gowento team with whom we share the same values and goals.”

Link: Splio Press Releases

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PayPal acquires iZettle, Jetlore to grow payments platform

PayPal, the payments giant, has acquired two companies in May. The acquisition of Jetlore, the AI-powered prediction platform supporting retailers, will boost PayPal Marketing Solutions,  adding new capabilities that continue to expand PayPal’s value proposition for merchants beyond the online checkout experience. The acquisition of iZettle, the leading small business commerce platform in Europe and Latin America, will help PayPal in its goal to create a one-stop solution to help sales teams compete and win online, in-store and via mobile. CEO Jacob de Geer will continue to lead iZettle, reporting to PayPal COO Bill Ready.

From the release: This is the largest acquisition in our company’s history and significantly expands our in-store presence around the world, strengthening our platform to help millions of small businesses around the world grow and thrive in an omnichannel retail environment,” wrote Dan Schulman, President and CEO of PayPal.

Link: PayPal blog

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Square’s Instant Deposit moves sellers’ money into their own bank accounts, quickly

Square, the mobile payments tool, has launched Instant Deposits, which allows sellers to move payments into their bank accounts within 20 minutes of the sale. Within the Square app, users can now click Instant Deposits and move payments quickly, for a cost of 1% of the deposit, in addition to Square’s usual transaction fee.

From the release: “Since our founding, we’ve heard that cash flow is a major pain point for small businesses. Our products were all built to provide fast and predictable access to funds to help businesses of all sizes remain competitive and agile. We believe our sellers should have the ability to access the money they’ve made as fast as possible, so we’re thrilled to provide this new service to businesses across the UK,” said Jack Dorsey, Square co-founder and CEO, in the release.

Link: Pymnts

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Paypal for Marketplaces launched to serve online platforms

PayPal for Marketplaces provides payment solutions for businesses operating larger online marketplaces, like ride-sharing, room rentals, gaming, social sharing sites via online, mobile or in-app. Features include the ability to customize payments at the transaction level, flexible onboarding for your customers, and the ability to accept credit cards, debit cards, and PayPal.

Link: TechCrunch

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