Friday , January 22, 2021

Shift4 Payments Makes Three Acquisitions in Hospitality POS

Shift4 Payments LLC, owner of the Harbortouch point-of-sale service, announced Tuesday it purchased three POS brands specializing in hospitality payments. Restaurant Manager, POSitouch, and Future POS are now part of Shift4 Payments. Terms were not disclosed.

The acquisitions add 90,000 merchants to Shift4 Payments’ portfolio, and include customers such as Wendy’s, Arby’s, KFC, and Outback Steakhouse, the company says. Prior to the announcement, Shift4 Payments said it processed more than 1 billion annual transactions for almost 200,000 merchants, representing more than $100 billion in annual payments.

POSitouch, based in Warwick, R.I., services more than 50,000 locations in the United States, Canada, South America, Europe, and Asia. Restaurant Manager, a Silver Spring, Md.-based firm, serves more than 20,000 merchants, as does Future POS, Butler, Pa.

Each of Shift4’s brands, including Harbortouch, will continue to evolve their product offerings and compete independently. Shift4 Payments will provide shared resources, including payment-processing services.

“Our considerable experience has given us the confidence to bring together the leading brands in hospitality point-of-sale technology in a move that is truly transformational for our organization and for the industry as a whole,” Jared Isaacman, Shift4 Payments’ chief executive, said in a press release.

Shift4 Payments is the result of a merger last month between Lighthouse Network, the former name for the Harbortouch parent company, and Shift4 Corp., a Las Vegas-based payment gateway.

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