The $180 million deal is designed to deepen Shift4’s presence in Australia and New Zealand, Shift4 CEO Taylor Lauber said in a Sunday (June 22) news release.
“By combining our payment infrastructure with Smartpay’s distribution capabilities, we’re well positioned to go to market at scale in the region with our leading products and services such as SkyTab POS for restaurants, SkyTab Venue for stadiums and arenas, and our end-to-end payment solution for hotels and unified commerce merchants,” he said in the release.
The acquisition follows Shift4’s pattern of “combining acquisitions” to deliver an integrated payment experience with localized distribution, service and support, merchant-facing products and owned payment rails to scale in other regions, such as Ireland, Germany and the United Kingdom, according to the release.
In February, Shift4 bought tax-free shopping provider Global Blue, a deal the company said represents about $2.5 billion in enterprise value.
In his farewell letter to shareholders, outgoing Shift4 CEO Jared Isaacman described the deal as the “most significant” in the company’s history and “one that will transform our ability to win in unified commerce in every major market across the globe.”
In other point-of-sale payments news, Tom Lapham, senior vice president of Cheq at Cantaloupe, told PYMNTS in an interview this month about the challenge of providing a smooth payment experience at sporting and entertainment events.
“When you think about 40,000 people into a venue — all of them want to eat at the same time,” he said.
The traditional model of long lines and limited ordering options no longer works for customers used to instant gratification. Shortening the process means higher turnover at the venue as well as greater customer satisfaction.
PYMNTS Intelligence found that consumers expect faster, more personalized and frictionless experiences at each touchpoint. This reinforces a willingness among attendees to embrace self-service, with 57% of fans saying they would spend more if allowed to order directly from their seats.
“The family that wants to go belly up to the counter can still do that, but the guys who want to sit down at their seat and order from their seat and get food delivered can do that,” Lapham told PYMNTS.
