TORONTO, Oct. 20, 2017 /CNW/ - Posera Ltd. (TSX: PAY), a leading provider of
software solutions for the hospitality industry, and DLT Labs Inc.,
a global leader in blockchain solutions for enterprises, today
announced a joint venture to deliver Blockchain technology into the
hospitality POS ecosystem including developing a real-time
transaction and inventory management system.
Blockchain is an electronic ledger that can be shared among
disparate users and creates an unchangeable time-stamped record of
transactions. Each digital record or transaction in the thread is
stored in a block. Because blocks cannot be changed, and augmented
by the additional protection of encryption, the data is immutable
and inherently secure. Flexible architecture allows either an open
or controlled set of users to participate in the electronic ledger.
But one of the most powerful attributes of Blockchain is the
ability to develop real-time systems that synchronize mass amounts
of data.
"As leaders become increasingly aware of the economic and
strategic benefits derived from real-time enterprise solutions,
there is an industry shift to blockchain-centric systems on the
horizon. The potential cost benefits in payment processing are
enormous, and we believe the competitive and real-time nature of
the hospitality industry will help drive adoption. We are
delighted to partner with DLT Labs, an innovator in the Blockchain
space, to pioneer real-time solutions in the hospitality and
payment industry," said Akash Sahai, EVP, Strategy and Business
Development, Posera.
One example of the benefits, by integrating payment processing
on blockchain, all parties in the payment processing ecosystem
(merchants, processors, suppliers, and ISVs) will have access to
the transaction data in a secure and real-time environment. This
will not only decrease exorbitant systems expenses, but enables an
entirely new generation of real-time analytics solutions. As
another example, the partnership with DLT Labs will allow Posera's
SecureTablePay® pay-at-the-table solution to accept
crypto-currency, making Posera a pioneer in the process of
accepting crypto payments in the hospitality industry.
SecureTablePay is now live in the market in the USA,
certified with three major payment processors and available across
the country.
"DLT Labs recognizes both the technical strength and domain
expertise at Posera which will help us both accelerate this
innovative development and quickly bring to market an exciting
Blockchain development initiative," said Neeraj
Srivastava, Founder and CTO, DLT Labs. "The adoption of Distributed
Ledger Technology is in its infancy, and we believe it is
particularly suited to the demands of the hospitality industry, and
more broadly throughout the payment industry, and we are extremely
pleased to be working with Posera and their SecureTablePay
solution," added Srivastava.
About Posera
Posera has been a leading provider of hospitality technology for
more than 30 years. It manages merchant transactions with consumers
and facilitates all aspects of the payment transaction.
Posera's full service solutions include:
SecureTablePay®, an EMV compliant pay-at-the-table
application; Maitre'D®, a point of sale system which
offers a robust and comprehensive solution including hardware
integration services, merchant staff training, system installation
services, post-sale software and hardware customer support; and
KDS, a Kitchen Display System that is now available as a standalone
product. Posera's solutions are deployed globally across the full
spectrum of restaurants, from large chains and independent table
service restaurants to international quick service chains and its
products have been translated into eight languages.
More information about Posera can be found on the Company's
website at www.posera.com or under the Company's profile on SEDAR
at www.sedar.com.
About DLT Labs
DLT Labs is a global leader in the development and
implementation of Blockchain solutions for enterprises. The
company's leading group of architects, using proprietary DNC
Cluster Framework and Parent & Child Smart Contract
Architecture, design and deploy distributed enterprise applications
with high scalability, security, and throughput. With the world's
premier team of distributed application designers and integrators,
DLT Labs has extensive enterprise experience and expertise with all
distributed ledger/Blockchain technologies including Enterprise
Ethereum, IBM's Fabric, R3's Corda, JP Morgan's Quorum, and other
leading enterprise platforms.
For more information: