ATLANTA - NCR (NYSE:VYX) Voyix Corporation (NYSE: VYX), a prominent provider of digital commerce solutions, has introduced Aloha Pay-At-Table, a new service aimed at streamlining the dining payment process.
This feature, powered by the Atlanta-based tech company sunday, allows restaurant patrons to use their smartphones to scan a QR code at their table, view their bill, split the payment, leave a tip, and complete the transaction in under 10 seconds.
The integration of Aloha Pay-At-Table with the existing Aloha Point of Sale (POS) system is designed to reduce the time customers and staff spend on payment processing. This efficiency is critical in the restaurant industry, which often operates on narrow profit margins.
According to Benny Tadele, executive vice president and president of Restaurants at NCR Voyix, the technology not only expedites customer service but also encourages increased spending and faster table turnover, which can be vital for business operators.
The service has reportedly been beneficial to servers as well, with a noted increase in gratuities due to the system's automatic tip calculation feature. Furthermore, the time saved on payment processing—estimated at an average of 15 minutes per table—allows staff to focus on providing better customer service.
Beyond operational efficiencies, Aloha Pay-At-Table also prompts guests to leave reviews on Google (NASDAQ:GOOGL), covering various aspects of their dining experience, from food quality to ambiance. This feedback mechanism can offer valuable insights to restaurant managers and owners.
Christine de Wendel, the U.S. CEO and co-founder of sunday, highlighted the comprehensive benefits of the system, noting improved experiences for guests, servers, and operators.
The platform, which was initially launched in 2021, has expanded to support over 2,000 restaurants globally, impacting around 50 million guests each year.
The announcement is based on a press release statement from NCR Voyix Corporation.
InvestingPro Insights
As NCR Voyix Corporation (NYSE: VYX) continues to innovate with its Aloha Pay-At-Table service, the company's financial metrics and market performance provide additional context for investors. The latest InvestingPro Data indicates a market capitalization of $1.95 billion, reflecting the company's scale in the digital commerce solutions sector. Despite a challenging environment, VYX has achieved a notable revenue growth of 32.82% in the last twelve months as of Q1 2024, showcasing its potential for expansion and increased market share.
However, investors should note that VYX's P/E ratio is currently negative at -3.31, suggesting that the company has faced profitability challenges. This is further emphasized by the company not being profitable over the last twelve months. On the positive side, VYX's strong return over the last month, with a price total return of 12.81%, indicates a recent upswing in investor confidence, which could be attributed to innovations such as Aloha Pay-At-Table and its potential to improve restaurant operations.
Two InvestingPro Tips highlight key considerations for VYX: Analysts have recently revised their earnings downwards for the upcoming period, and the Relative Strength Index (RSI) suggests the stock is in overbought territory. These insights might be crucial for investors looking to gauge the company's short-term performance amidst its growth initiatives.
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