Toronto-based AvidRetail began its startup journey as primarily a loyalty rewards company, whose AvipTap terminals could be integrated into existing points of sale at retail stores, coffee shops and restaurants. It then went on to develop its own point-of-sale replacement, AvidRegister, comprised of a 10-inch Android-powered tablet and custom software.
Because AvidRegister runs Android, its cost — $249, plus an optional $25/month fee for unlimited transactions, sales and staff reports and priority support — is significantly lower than the iOS-centric products from Square and Shopify, among others. AvidRetail’s success in the payment space has led it to develop a new form of payment, Kash, which looks to remove the middlemen settlement companies like MasterCard and Interac, allowing customers to pay for products at retail from their phones, directly debiting a chequing account. (more…)