Ghent-based Posios secures commercial breakthrough with US deal
Posios, the Ghent-based start-up business which developed an application to convert iPhones and iPads into a mobile pay point system for restaurants, is to join forces with Griffin, the well-known American manufacturer of technological accessories. Posios announced the deal on Monday evening during the Consumer Electronics Show CES in Las Vegas, where Griffin is one of the prominent exhibitors. The Ghent computer scientists Jan Hollez 30 and Zhong Yuan Xu 28 developed their mobile pay point system during the past two years under the wings of tech incubator iMinds formerly IBBT. The system is built around an application called Restaurant Butler, which converts an iPhone or iPad into a mobile order terminal which can be linked to a cash register and a printer to print a till slip. The app allows various devices to transmit orders to the kitchen at the same time and even from a distance. All transaction data is saved in the cloud to provide restaurant managers with all the information they need on the running of their facility. And not least of all, the system is compatible with black box, the digital registration system with which the tax department hopes to tackle the circulation of black money in the hotel and restaurant industry. Griffin plans to integrate the Flemish invention in its new product, Kiosk Retail, which will also boast technology of the American Shopkeep and serve as a pay terminal for bank cards. Kiosk Retail will cost 229 US dollar. This deal with Griffin is a huge commercial breakthrough for Hollez and Yuan Xu, as the Nashville-based concern which was established 20 years ago has firmly positioned itself as a manufacturer of wireless gadgets and accessories for appliances that include names like Apple. “The fact that we can do a deal with one of the biggest players in the industry is no doubt important for us,” says Hollez. “On top of that Griffin has an enormous distribution network. We will immediately become active in America, as well as in parts of Europe and Asia. That’s a giant leap forward for us.” This deal is non-exclusive for both partners, who are free to sign deals with other companies. And this is exactly what Posios have in mind as they are already negotiating with other possible partners. In just a few years the two young entrepreneurs developed their company by working hard in their leisure time.