Source: Shift4 Payments
Shift4 Payments (NYSE: FOUR), a leading provider of integrated payment processing solutions, today announced the acquisition of VenueNext, a leader in next-generation mobile commerce, point-of-sale, and loyalty solutions for venues.
This acquisition enhances Shift4’s presence and capabilities in a number of large and growing verticals such as stadiums and arenas, while significantly expanding the company’s total addressable market with entry into entertainment, universities, theme parks, airports, and other verticals.
VenueNext is used by teams in every major professional sports league, in addition to colleges and other business verticals such as amusement parks and corporate campuses, all of whom will now have access to the combined offering from Shift4. The company’s product suite includes mobile ordering, full venue point-of-sale software, branded mobile applications (turnkey white label apps for teams / venues), and a mobile wallet / loyalty engine. This best-in-class mobile technology will add value across the entire Shift4 ecosystem.
This acquisition uniquely positions Shift4 as the only vertically integrated provider to power every aspect of in-venue commerce, including software (Mobile & POS), transaction gateway, and payment processing capabilities. This one-stop-shop solution delivers a compelling value proposition to venues by reducing cost and complexity, similar to Shift4’s end-to-end offering in other verticals.
“At Shift4, we thrive on eliminating complexity and reducing cost for the most demanding commerce environments. We have taken the same successful vertically-integrated strategy that has served us incredibly well in the hospitality and restaurant industries, and brought it to eCommerce with Shift4Shop and now to sports stadiums, entertainment venues and theme parks with this exciting acquisition,” said Jared Isaacman, Shift4 Payments CEO. “We couldn’t be more excited to welcome VenueNext to the Shift4 organization. We love their focus on the ‘fan & patron experience’ and making commerce simple and more enjoyable. In addition to jointly pursuing new opportunities, we intend to immediately offer Shift4’s end-to-end payments solution to VenueNext’s sizeable existing customer portfolio which spans across virtually every category of large venue across the country and internationally.”