In the increasingly competitive market for tabletop point-of-sale terminals, providers are looking for some magic. One of them, Redwood City, Calif.-based E la Carte, said this week it is changing its name to Presto, which means “fast” in Italian, as the company points out, but also adds that the word “has a connotation of magic.”
E la Carte competes with Ziosk Inc. and other startups that have entered the business over the past few years with devices that restaurant customers can use at the table to order and pay for their meals but also to amuse themselves with a variety of games. The market has become especially relevant since the advent in the United States of EMV chip cards, which lend themselves to at-table payments.
“The new name … reflects our expanded vision as we address more of the challenges facing the restaurant industry today,” said Rajat Suri, founder and chief executive Presto, in a statement. “Restaurants and retail today must deal with escalating competition, rising labor costs, and consumer expectations that did not exist five years ago.”
Founded a decade ago, Presto says customer-facing technology has turned into a competitive strength for restaurants. “Effective use of technology can help strong operators turn … challenges into strengths and will be a key differentiator in the new competitive landscape,” says Suri, in the statement.
The company says it has installed 90,000 devices in 1,800 U.S. locations. Brands using the terminals include Applebee’s and Outback Steakhouse. The POS devices support point-to-point encryption and PIN entry as well as EMV.