UK-based fintech firm Revolut has bought ePOS software provider Nobly POS to expand its offering to serve the restaurant and hospitality sectors.
Financial terms of the deal have not been revealed.
Established in 2013, Nobly provides ePOS system for the restaurant and hospitality business across the UK, the US, and Australia.
The firm’s back office app, order and inventory management systems, kitchen displays, loyalty, and online ordering (click & collect) app enable hospitality businesses to manage their operations.
As part of the deal, Nobly’s product is being integrated with Revolut’s payment hardware as well as its online and offline payment processing capabilities.
This will enable the firm to offer a fully integrated solution to help merchants better manage their businesses and accept payments.
Furthermore, the addition of Nobly will allow Revolut Business hospitality customers to open a digital account, use FX, and issue cards.
It will also enable them to manage and sell their products and receive payments online and offline from a single Revolut Business spectrum, minimising time and direct costs for the customers.
Revolut CEO Nik Storonsky said: “Nobly’s ePOS product will enhance our existing Revolut Business offering to make life easy for hospitality businesses. We look forward to working with the team to build more features to support our strong growth.”
Nobly POS co-founder and CEO George Urdea added: “Joining Revolut opens the exciting possibility to take the merchant-consumer experience to the next level, by bridging the rich point of sale data with Revolut’s financial super app.”
Revolut is planning to roll out its fully integrated solution globally and bolster its product capabilities to cater to a wide range of its retail customers in the future, it said.
In July this year, the firm launched a remittance corridor to drive cross-border payments between the US and Mexico.