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Ever since Shift4 Payments Inc. paid $2.5 billion last year to acquire Global Blue, the processor has looked for ways to leverage the international shopping platform’s strengths in tax-free shopping for international travelers. The latest development emerged early Tuesday with Shift4’s launch of Shift4 One, a move the company says allows merchants to cater to international shoppers through point-of-sale technology that manages payments as well as such functions as currency conversion and tax-free shopping.
Together, the new device and service also represent the first “jointly developed product” from the two companies, Shift4 says. Shift4 is launching the technology initially in the United Kingdom, Ireland, Spain, and Germany and planning to have it available in some 15 countries by year’s end.
“Travelers are often unsure about exchange rates or how to submit for tax refunds they’re entitled to. Shift4 One eliminates that uncertainty and makes shopping abroad as simple as shopping at home,” says Shift4’s chief executive, Talyor Lauber, in a statement.
The handheld point-of-sale device supports payments via NFC and EMV as well as conventional swiped transactions, according to Shift4, which offers the example of a Japanese customer shopping at a store in Paris. At checkout, the system can process the payment in Japanese yen while locking in the exchange rate. It figures the tax refund immediately and “automates the refund process,” Shift4 says. The device can print, text, or email a receipt.
Shift4 One is targeted at small and medium-size merchants and is set to roll out in Europe throughout the year, Center Valley, Pa.-based Shift4 says. Information was not immediately available regarding the manufacturer of the Shift4 One device.
