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Revolut enters physical point of sale business with acquisition of London-based Nobly POS, a technology provider for the hospitality industry
Founded in 2013, Nobly’s ePOS system enables hospitality businesses to manage their operations with its back office application, order and inventory management systems, kitchen screens, loyalty and online ordering application. Nobly currently serves merchants across the UK, US and Australia.
Nobly’s product is currently integrated with Revolut’s payment hardware and online and offline payment processing capabilities. Once completed, Revolut Business hospitality customers will be able to open a digital account, use FX, issue cards, manage and sell their products, and accept online and offline payments from a unified platform.
Revolut says it intends to launch the product across its international footprint and expand its capabilities to serve its broader retail customer base, a move that will put it in direct competition with Square.
Nik Storonsky, CEO of Revolut, said, “The Nobly team has developed a tremendous product and expertise that will further our mission of offering a one-stop-shop solution to enable merchants of all kinds to manage their finances and manage their businesses from a single platform. . “
Financial terms of the transaction were not disclosed.
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