Engaging customers and driving increased sales is often challenging and requires both customer insight and top-notch customer experience. Thus far, paying has mostly disrupted this experience – not to mention the often-arduous search for the correct loyalty card or application. To solve this problem, Helsinki-based start-up company Palofy Analytics is bringing a payment application working directly on the payment terminal, which allows the customer to join with just one click. In the future, all Mastercard® and Visa® payment cards function as a loyalty card, no registration is needed. The card data is tokenized and leave no identifiable information in the system.
Palofy Analytics’ service includes a modern Android-based payment terminal with NFC and EMV card reader, 5’’ colour touch screen, receipt printer, loyalty application, as well as a possibility for register application, all functioning on a single device. Bringing applications to payment terminals is a big step in payment service development and simplifies selling.
The company has started a pilot project in July, and the service is in test use in multiple businesses. “We are excited about the pilot and bringing this new service to our customers. The preliminary data looks excellent, and we know that our service makes a difference and boosts sales by a minimum of 10 %”, comments Palofy Analytics CEO Tomi Taalikka. “I’m especially thrilled that we can offer this new kind of customer loyalty application to our customers; loyalty programmes have been proven to increase sales and help merchants to lower their customer acquisition costs.” he continues.
Palofy Analytics will not be the cheapest option on the market, but it will boost sales. “Our payment terminal and service are not an expense to the business, they increase revenue” Taalikka says. “We have carefully developed the service, and now that we are heading towards “normal” times, it is a good time to enter the market” he continues.
Taalikka reveals, that the custom-made data analytics and forecasting service brings visualised analysis, a tool for which previously only the big players had resources, to small and middled-sized businesses. “Our customers will enjoy daily visualised sales and forecasting reports, that in addition to analysis give also concrete suggestions based on the analysis.”
Besides the exact data from the register application and loyalty data, the service also utilises third-party data sources, that support the sales forecasting. For example, weather forecasts, events & holidays, and regulations have an enormous impact on businesses, especially restaurants. Being able to predict the sales is crucial for ordering produces and products, planning the work lists and marketing. Palofy Analytics’ mission is to help businesses operate more efficiently and anticipate the upcoming demand, thus increasing sales and decreasing costs.
Chairperson Thandia Pomar Zurita is looking forward to the data analytics development: “Our data analytics programme will reform the industry. Bringing AI-based analysis and forecasting to small and medium-sized businesses, in a simple, visual, and easy-to-read form is a service, that no one else offers.”
“Of course, there are multiply analytics tools available, but we deliver analysed reports that support the decision-making processes and automatise many time-consuming routine tasks”, Pomar Zurita continues. Palofy Analytics has several experts, whose knowledge and experience are utilised in building a world class service. “Finland is a good starting point, and then at a quick pace expand to other Nordic countries and to Baltics” Pomar Zurita adds. The company is aiming to be the number one payment service provider for restaurant industry by the year 2025 and achieve 20 per cent market share in other industries in Finland. Data analytics service has been built with the expansion in mind.
The pilot phase has started in July 2021, and the service will be launched commercially soon.
About Palofy Analytics Oy
Palofy Analytics’ services consist of PAX Techologies A920 Android payment terminal, Mastercard® and Visa® acquiring, loyalty and register applications, and data analytics and forecasting services.
Palofy Analytics is owned by the management and Random Ventures, an investment company owned by Mr. Peter Vesterbacka and Mr. Kustaa Valtonen, who are currently best known for their Finest Bay Area tunnel project. The chairperson in the company’s board is Ms. Thandia Pomar Zurita, former COO of Homerun Technologies Oy (Kodit.io). Tomi Taalikka, a serial entrepreneur is the CEO. Several restaurant and event business professionals as well as experts in payment and customer loyalty services have been involved in the development process of this service.
The acquirer is Maltese Credorax Bank Limited, and Palofy Analytics acts as their independent sales organisation in European Union. www.credorax.com
To learn more, visit www.palofy.com
Tanja Heikkinen, Communications Manager
Phone: +358-40-556 0070