SoftPoint adds EMV Secure Point of Sale Applications and Devices to 12 ReTech’s Technology Suite
Carson City, NV & Hong Kong, Sept. 04, 2018 (GLOBE NEWSWIRE) -- 12 ReTech Corporation (OTCQB: RETC) announced today that it has signed an agreement with SoftPoint in which, it will integrate SoftPoint’s secure EMV point of sale applications with certain components of its 12 Technology Suite and bring new solutions to its retail merchant customers.
SoftPoint offers a fully integrated payment system designed to enhance Restaurant, Retail, and Hotel sales. SoftPoint uses cutting edge technology and innovative smart terminals to offer solutions that mitigate risks, reduce processing costs and eliminate fraudulent charges. Now, with the integration to 12 ReTech’s technology, it will further streamline merchant’s operations. This ultimately provides shoppers with a better overall experience.
Christian Rivadalla, founder of SoftPoint stated, “Secure EMV point of sale transactions are important to anyone that accepts credit/debit cards and any type of payment, because the merchant needs to reduce the risk of fraud hitting their business. Over the past few years, we have all seen the new credit/debit cards with a built-in chip. What few people realize is that most of the time, these new cards are used in point of sale transactions no differently than the prior cards that they replaced. Even though, one now inserts a card into a point of sale (“POS”) terminal instead of swiping, the terminal still uses the older magnetic stripe technology over 95% of the time. Few merchants have outfitted themselves with new secure Payment Process equipment because it is expensive and difficult to integrate into a merchant’s back office environment until now. The failure of these merchants to upgrade to EMV secure equipment costs them as their merchant processors tack on non-compliance fees to their monthly charges. If a security breach happens to that merchant, the business operational costs that result can be traumatic. Consumers are now demanding what banks have already imposed and SoftPoint is there to seamlessly and inexpensively achieve the safety that consumers require.”
Mr. Rivadalla continued, “Our solution utilizes EMV specialized hardware POS devices on credit/debit cards. We process POS transactions in a PCI certified data encrypted cloud environment. Our value proposition for the hospitality industry is that we significantly reduce or eliminate card present transaction fraud. This saves merchants money as they can lower the non-compliance penalties that come from their merchant processors.”
Mr. Rivadalla continued, “We were recently introduced to 12 ReTech and immediately liked what we saw. They help retailer merchants grow shopping traffic and realize greater sales conversions. Every merchant in the world is interested in both of those value propositions. Together, we can help their merchant clients reduce their card processing costs, bring security to their customers, attract shoppers into storefronts and grow merchandise sales.”
Angelo Ponzetta, 12 ReTech’s CEO stated, “Partnering with SoftPoint makes sense because retailers struggle with point of sale fraud. One of the configurations that we will offer is a handheld device that a sales associate will use for on the spot sales transactions but that same device will contain our 12InStore APP so that the sales associate can access all the information about a product that is available and be able to assist a customer who has questions about merchandise at the same time. The merchant cuts his card processing fees and spends less on sales associate training.”
The Company continues to look for partners that will allow us to demonstrate our technology products and build revenue and earnings through their sale and licensing of our technology as well as through product sales at our microbrands.
About SoftPoint LLC:
Founded by experienced retail, hotel and restaurant owners, SoftPoint recognizes the tribulations that merchants experience, offering beneficial products and consultations to business owners. SoftPoint's innovative Point of Sale system is used with cutting edge technology that provides businesses a single platform for management and processes of multiple areas. This Scottsdale-based company offers valuable technology typically only accessible to large corporations to merchants and businesses of all sizes. For more information, visit www.softpointcloud.com.
About 12 ReTech Corporation:
At our core, we are a software company whose technology allows retailers to combat the dual threats of Walmart and Amazon — both online and in physical stores. Our microbrand rollup acquisition strategy allows us to demonstrate the effectiveness of our software, devise and test new products, while providing shareholder value through immediate revenue and earnings growth. The Company operates through our subsidiaries on three continents: 12 Hong Kong, Ltd., 12 Japan, Ltd., 12 Europe A.G., 12 Retail Corporation (and its subsidiaries in North America, including Emotion Fashion Group, Inc.). For more information please visit our website at www.12ReTech.com.
12 ReTech Corporation is publicly listed on the OTCQB Markets under the symbol RETC.
Safe Harbor: This document contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.