AvidRetail Aims To Eliminate POS Transaction Fees

August 20, 2014 Ben Myers

“People want special attention,” Kaz Nejatian, co-founder of AvidRetail says of his career lessons so far.

AvidRetail allows retailers to greet customers by name at checkout, a way of personalizing a simple experience like buying a coffee.

For the person standing behind the counter (and their business), AvidRetail offers free and pre-paid mobile transactions. Customer can install an app on their phone and pay without going through a credit card middleman.

“We felt like retailers were getting squeezed,” Nejatian says.

The concept of saving money on transaction fees much be an easy sell, because 130 brands have signed up and AvidRetail has process more than  $1-million in sales in the first 3 months.

Other than an appealing business case for AvidRetail, how does  Nejatian manage to keep growing his business?

“I don’t sleep!”

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Great article, Ben!

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