Shift4 Integrates with Mashgin’s Computer Vision Self-Checkout System

Rhea-AI Summary

Shift4 (NYSE: FOUR) has partnered with Mashgin, integrating payment processing with AI-driven self-checkout technology. This integration enables retailers to minimize checkout lines using Mashgin kiosks, already present in over 2,300 U.S. locations, including stadiums and airports. The kiosks utilize multiple cameras for 99.9% item recognition accuracy, allowing transactions up to 400% faster than traditional cashiers, and have documented sales increases of 25%-400% in stadiums. Shift4's broad payment ecosystem supports over 200,000 merchant locations globally, simplifying operations and costs for diverse businesses.

Positive

• Integration with Mashgin enhances payment processing efficiency for retailers.
• Mashgin kiosks already deployed in 2,300+ locations, indicating market acceptance.
• Kiosks boast 99.9% accuracy in item recognition, improving customer experience.
• Transactions can be processed 400% faster than traditional cashiers, increasing throughput.
• Documented sales increases of 25%-400% in stadiums using Mashgin technology.

Negative

• None.

Shift4 and Mashgin technology integration enables retailers to combine streamlined payment processing with lightning-fast self-checkout powered by AI and computer vision

PALO ALTO, Calif. & ALLENTOWN, Pa.--(BUSINESS WIRE)-- Shift4 (NYSE: FOUR), the leader in integrated payments and commerce technology, has announced an integration with Mashgin, the world’s fastest touchless self-checkout system. The partnership enables retailers who use Mashgin to seamlessly equip their point of sale with Shift4 payment processing — and it also allows stadiums, retailers, and other businesses who use Shift4 to drastically reduce checkout lines with computer vision-powered checkout kiosks by Mashgin.

Shift4 + Mashgin (Graphic: Business Wire)

Mashgin kiosks are already deployed at more than 2,300 locations in the U.S., including convenience stores, major league sports stadiums, airports, corporate cafeterias, ski resorts, and entertainment venues. Equipped with multiple cameras, Mashgin kiosks identify food and goods with 99.9% accuracy and ring them up simultaneously. There’s no need to find and scan barcodes. Customers simply place their items on the Mashgin kiosk tray and item costs are instantly calculated for payment. Transactions on Mashgin are up to 400% faster than a typical cashier and are proven to increase customer throughput by 96% — resulting in shorter lines, more sales, and happier customers. Stadiums who use Mashgin have seen documented sales increases ranging from 25%-400%.

Shift4’s end-to-end payment ecosystem powers commerce for over 200,000 merchant locations worldwide. The company’s integrated, streamlined solution includes everything a business needs to process payments, including point-to-point encrypted EMV devices, secure payment platform, POS/PMS software integrations, mobile and contactless technology, and more – simplifying operations and reducing the overall cost to accept payments.

“We’re thrilled to partner with Mashgin to deliver a better payment solution for users of their innovative technology,” said Anthony Perez, Shift4’s SVP of New Verticals. “Together, we can transform the checkout experience at sports and entertainment venues as well as other retail locations.”

Retailers can easily deploy Mashgin’s kiosks in days, which is significantly faster compared to other vendors whose solutions typically require months to implement. The integration of Mashgin with Shift4 will enable tech-forward venues and retailers to combine streamlined payments with game-changing checkout speed to delight shoppers and retailers.

“The integration of Mashgin’s computer vision technology with Shift4’s end-to-end payment processing solution makes the deployment of Mashgin’s Touchless Checkout System an even more convenient option for the many companies already using Shift4 to process payments,” said Jack Hogan, Vice President of Strategic Partnerships at Mashgin.

About Mashgin
Mashgin is the world's fastest self-checkout system powered by AI and computer vision. Consumers demand instant gratification. Mashgin’s Touchless Checkout System eliminates consumer frustration while increasing revenue for retailers with checkout that is four times faster than cashiers and traditional points-of-sale. There’s no need to look for and scan bar codes; customers simply place their items on Mashgin’s tray, pay electronically and can be on their way in as little as 10 seconds.

Founded in 2013 and headquartered in Palo Alto, California, Mashgin is a privately held company backed by NEA, Matrix Partners, Susa Ventures and Y Combinator. Follow Mashgin on Twitter and LinkedIn or learn more at mashgin.com.

About Shift4
Shift4 (NYSE: FOUR) is boldly redefining commerce by simplifying complex payments ecosystems across the world. As the leader in commerce-enabling technology, Shift4 powers billions of transactions annually for hundreds of thousands of businesses in virtually every industry. For more information, visit shift4.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230223005187/en/

Media:

Shift4

Nate Hirshberg

VP of Marketing, Shift4

nhirshberg@shift4.com

Bob Hallman

JCUTLER media group

917.371.7679

bob@jcmg.com

Mashgin

Michael Held-Hernandez

Mercury Global Partners for Mashgin

+1 480 306 1154

mashgin@wearemgp.com

Mindy M. Hull

Mercury Global Partners for Mashgin

+1 415 889 9977

mashgin@wearemgp.com

Source: Shift4

FAQ

What is Shift4's latest announcement regarding Mashgin?

Shift4 has integrated its payment processing with Mashgin's AI-driven self-checkout technology to enhance retail efficiency.

How many locations use Mashgin's kiosks?

Mashgin kiosks are deployed at over 2,300 locations in the U.S.

What are the benefits of using Mashgin kiosks?

Mashgin kiosks allow for 99.9% item recognition accuracy and can process transactions up to 400% faster than traditional cashiers.

What impact does the Mashgin partnership have on Shift4's business?

The partnership is expected to streamline checkout processes, leading to increased customer satisfaction and sales.

What is the ticker symbol for Shift4?

The ticker symbol for Shift4 is FOUR.