astles Technology, a manufacturer of payment hardware solutions, and SUZOHAPP, a provider of software and hardware cash management solutions, announced Monday a multi-year partnership agreement, which includes the co-development and delivery of next-generation cashless terminals within unique sales channels throughout the global unattended marketplace.
This strategic partnership enables SUZOHAPP to white label and resell Castles' family of cashless payment hardware solutions, bundled with their services. The result is that each company's unique business partners obtain cashless payment hardware solutions that are backed with highest levels of PCI and EMV compliance, lower their overhead costs, capture new revenue streams, and empower their end users with independence and flexibility.
"Castles is quickly emerging as a formidable force in cashless technologies," said Dr. Rory Herriman, CTO Software and Digital Systems for SUZOHAPP. "We saw this partnership as an opportunity to co-develop next generation cashless solutions with an innovative company and are thrilled to help further expand their market presence in the unattended and component space as forward-thinking collaborators."
The unceasing advancements in payment technology such as continued EMV migration, closed-loop/loyalty and mobile and smart device integrations, have rapidly transformed how customers interact and complete purchases from global brands. But fraudsters and cybercriminals are constantly seeking ways to disrupt these kinds of advances by exploiting vulnerabilities and security at the point-of-sale.
"With over 85 years of combined experience, SUZOHAPP and Castles have made countless investments in the areas of research, product development and market surveillance of the potential dangers and liabilities that are weakening the payments industry," said Winston Fong, CEO of North America (Castles Technology International Corp).
With both companies integrating their existing payment technology and hardware platforms, Castles and SUZOHAPP stand ready to acquire substantial market share in kiosk, vending, micro market, gaming, amusement, transportation, banking and retail channels.