DGAP-News: Vectron Systems AG: Vectron and epay announce cooperation

DGAP-News: Vectron Systems AG / Key word(s): Alliance

Vectron Systems AG: Vectron and epay announce cooperation

11.03.2019 / 10:01

The issuer is solely responsible for the content of this announcement.

Martinsried (Munich), Münster, March 11, 2019: Vectron Systems AG (Vectron) and epay, a part of the listed payment service provider Euronet Worldwide, Inc. (NASDAQ:EEFT) with USD 6.6 billion market capitalization, have agreed to develop and offer new functions and services together for operators of cash register systems. The focus is on alternative payment methods such as Alipay as well as the distribution of classic products such as mobile phone recharges and electronic vouchers. Both companies are among the market leaders in their sectors and see considerable potential in a cooperation.

Vectron is one of the largest European manufacturers of cash register systems with the focus on the catering and bakery sectors. epay offers access to many popular, alternative payment methods as well as prepaid and gift cards by means of its cash register integration software.

The aim of the cooperation is to combine these features as industry-specific service components with the cash register and thus to enable gastronomes and bakers simple ways of modern payment and customer loyalty. The industry solution, which shall be specifically adaptable to the needs of customers, includes both entry-level versions without a terminal as well as expansion stages including comprehensive cash register systems with terminal solution and customer retention options.

Affiliated companies benefit from better customer service and shopping experience as well as from additional savings through streamlined processes. Caterers and bakers can therefore simply offer cashless payment transactions and tap into new customer groups and additional revenue via popular alternative payment methods and prepaid solutions. "The breadth of possible cash-based payments and the large portfolio of prepaid and gift card products with internationally renowned brands is a valuable addition to our offer", explained Thomas Stümmler, co-founder and director of Vectron.

Both companies see further potential in the cooperation through the access to new sectors and therefore, in the medium term, also to new considerable sources of revenue. "For epay the cooperation offers numerous opportunities such as the opening up of new markets in the field of catering and bakery sector, where Vectron holds a leading position in Europe with more than 200,000 cash registers in this segment", explained Marc Ehler, managing director of epay Europe. Meanwhile, Vectron gains access to epay's thousands of different prepaid products. In addition, Vectron participates by the integration of the strongly growing alternative payment systems into the cash registers, which epay already activates worldwide.
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