Smoothie King Selects PAR Technology for Payment Processing

Rhea-AI Summary

PAR Technology Corporation (NYSE: PAR) has partnered with Smoothie King, the largest smoothie franchise globally, to enhance its payment processing across over 1,000 locations. This strategic collaboration utilizes PAR's unified commerce cloud platform, which includes secure payment processing, Point-of-Sale, and back-office services. Smoothie King chose PAR for its reliability, competitive pricing, and superior guest experience. PAR's CEO, Savneet Singh, emphasized the significance of this deal, highlighting the scalability and efficiency it brings to Smoothie King's operations.

Positive

• Smoothie King selected PAR for payment processing across more than 1,000 locations, indicating strong market confidence.
• Partnership enhances customer experience through improved payment processing and operational efficiency.
• PAR's unified commerce cloud platform provides end-to-end solutions, facilitating Smoothie King’s growth.

Negative

• None.

Leading Smoothie Chain expands use of PAR’s unified commerce cloud platform that now includes Point-of-Sale, Backoffice, Payment Processing Services and PAR hardware

New Hartford, N.Y.--(BUSINESS WIRE)-- ParTech, Inc. (PAR), a global restaurant technology company building a unified commerce cloud platform for enterprise restaurants, today announced that Smoothie King, the world’s largest smoothie brand and original smoothie franchise has selected PAR for secure, compliant payment processing services across its network of more than 1,000 stores. ParTech, Inc. is a wholly-owned subsidiary of PAR Technology Corporation (NYSE: PAR).

As part of a system wide payments processing upgrade, Smoothie King was seeking a single payments partner that provides a streamlined underwriting and approval process, frictionless onboarding, competitive pricing, and centralized support that substantially improved the payments experience for both guests and franchisees. PAR’s end-to-end software/hardware offerings and commitment to improving the guest experience made their selection by Smoothie King an obvious choice.

“With all the volatility seen in the restaurant industry recently, it was crucial that we selected not only a stable and reliable partner, but one that would withstand changes within our business as well as the restaurant industry,” said Chris Andrews, Chief Information Officer at Smoothie King Franchises. "PAR’s guest centric approach aligns perfectly with ours and this partnership will continue to inspire people to live a healthy and active lifestyle by providing a more seamless guest experience."

Savneet Singh, PAR Technology’s CEO, said: “We’re excited that Smoothie King has selected PAR Payment Services (PPS) for its payment processing requirements. PAR’s solution, and broader platform offerings, makes it easier for Smoothie King to scale operations and manage financial controls over its fast-growing business and enterprise. PAR Payment Services securely replaces cobbled together processes and systems that are ineffective and costly for franchise operators. Smoothie King’s selection of PAR Payment Services also highlights the potential of our Payment product within enterprise restaurants.”

ABOUT SMOOTHIE KING FRANCHISES, INC.
Smoothie King Franchises, Inc., the original U.S. smoothie franchise, is a privately-held, Dallas-based franchise company with over 1,300 locations worldwide. Founded in 1973, Smoothie King has evolved into a lifestyle brand inspiring people to live healthy and active lifestyles via nutritious, great-tasting smoothies. The franchise earned No. 13 overall on Entrepreneur's prestigious Franchise 500 list in 2022. The company also debuted on the "Inc. 5000" list in 2018 and ranked as one of Franchise Business Review’s Top Franchises of 2022. To learn more, visit www.smoothieking.com or connect with them on LinkedIn, Facebook, and Instagram.

ABOUT PAR TECHNOLOGY CORPORATION
For more than 40 years, PAR’s (NYSE Symbol: PAR) cutting-edge products and services have helped bold and passionate restaurant brands build lasting guest relationships. We are the partner enterprise restaurants rely on when they need to serve amazing moments from open to close, during the most hectic rush hours, and when the world forces them to adapt and overcome. More than 100,000 restaurants in more than 110 countries use PAR’s restaurant POS software, hardware, drive-thru, and back-office solutions. With the acquisition of leading loyalty solutions provider Punchh Inc., PAR has become a Unified Commerce Cloud Platform for Enterprise Restaurants. To learn more, visit www.partech.com or connect with us on LinkedIn, Twitter, Facebook, and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220203005195/en/

chris_byrnes@partech.com, www.partech.com

Christopher R. Byrnes (315) 743-8376

Source: ParTech, Inc.

FAQ

What new partnership did PAR Technology announce in February 2022?

PAR Technology announced a partnership with Smoothie King for payment processing across its network of over 1,000 stores.

Why did Smoothie King choose PAR for payment processing services?

Smoothie King selected PAR due to its streamlined underwriting process, frictionless onboarding, competitive pricing, and enhanced guest experience.

How will the partnership with Smoothie King impact PAR Technology?

The partnership with Smoothie King is expected to enhance PAR's reputation in the restaurant industry and demonstrate the effectiveness of its payment processing solutions.

What does PAR’s unified commerce cloud platform include?

PAR’s unified commerce cloud platform includes Point-of-Sale, back-office services, payment processing services, and associated hardware.

How many locations does Smoothie King operate?

Smoothie King operates over 1,000 locations worldwide.