NRS Expands to Canada

Rhea-AI Summary

National Retail Solutions (NRS) has announced its expansion into Canada, leveraging its leading point-of-sale (POS) platform tailored for independent retailers. CEO Elie Y. Katz highlighted the company's focus on providing robust tools that enhance profitability and competitiveness against larger chains.

The NRS platform delivers a comprehensive suite of solutions, including inventory management, sales reports, and a mobile app for remote operations. Additionally, NRS introduces NRS Pay, a low-cost credit card processing service, free from hidden fees. The initial deployment of POS terminals is set for select retailers in Toronto, with plans for broader distribution across Canada.

Positive

• Expansion into the Canadian market presents new growth potential for NRS.
• NRS offers a comprehensive suite of tools to improve retailer profitability.
• NRS Pay provides a cost-effective payment solution, attracting more retailers.

Negative

• None.

NEWARK, N.J., Feb. 15, 2023 (GLOBE NEWSWIRE) -- National Retail Solutions (NRS), operator of the leading point-of-sale (POS) platform for independent retailers, today announced the expansion of its network to Canada.

“NRS has been focused exclusively on the U.S. market,” said Elie Y. Katz, CEO of NRS. “We developed a powerful POS platform that enables our domestic independent retail partners to operate more profitably and compete more effectively against large retail chains. Now, we are very excited to bring these advantages to retailers in Canada.”

The NRS platform provides independent retailers, including convenience, tobacco, and liquor stores, with a purpose-built, integrated hardware and software solution. Store management tools include a price book, inventory management solutions, sales reports and statistics, vendor payments, remote operations management through the My NRS Store mobile app, in-store promotions, e-commerce, a customer loyalty program, and more.

NRS will also offer its Canadian retail partners NRS Pay, a straightforward, low-cost credit card processing service. NRS Pay is free of long-term contracts, termination costs, and the pernicious hidden fees often charged by other credit card payment processors.

Eli Korn, NRS’ COO, commented, “The Canadian market, with its significant, heterogeneous immigrant population, is a natural stepping stone as we begin to build out our capabilities for international expansion. We expect that terminals operated by retailers in markets outside the U.S. will gradually become a significant contributor to NRS’s long-term growth.”

NRS is currently deploying its POS terminals to select retailers in Toronto and plans to expand to other Canadian cities in the coming months.

About National Retail Solutions (NRS):

National Retail Solutions operates the leading point-of-sale (POS) terminal-based platform and digital payment processing service for independent retailers and bodega owners nationwide. Retailers utilize NRS offerings to process transactions and manage operations more effectively, enabling them to successfully compete against large retail chains. Advertisers access the terminal’s digital display network to reach these retailers’ massive, predominantly urban customer bases. Consumer packaged goods (CPG) suppliers leverage the NRS platform to provision promotions, coupons, and special offers to independent retailers. NRS is a subsidiary of IDT Corporation (NYSE: IDT).

All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, IDT assumes no obligation to update any forward-looking statements.

suzy.silliman@nrsplus.comIDT Corporation Contact:
Bill Ulrey
william.ulrey@idt.net

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FAQ

What is National Retail Solutions' recent expansion?

National Retail Solutions has expanded its operations into Canada, providing its point-of-sale platform to independent retailers.

How does NRS support independent retailers?

NRS offers an integrated POS system with features such as inventory management, sales reports, and a mobile app for operations.

What is NRS Pay?

NRS Pay is a credit card processing service offered by NRS that is low-cost and free of hidden fees.

Where is NRS initially deploying its POS terminals in Canada?

NRS is initially deploying its POS terminals to select retailers in Toronto, with plans for expansion to other cities.

What are the expectations for NRS's international expansion?

NRS anticipates that its terminals in international markets will significantly contribute to long-term growth.