Mashgin’s Post

Mashgin, ACE Ventures portfolio company, started with a clear goal: to eliminate long wait times at checkouts using advanced computer vision. Mukul Dhankhar's frustration with long cafeteria lines at Toyota led him to partner with his former college classmate Abhinai Srivastava. Together, they transformed Mashgin from an early-stage startup into a leader in AI-powered self-checkout, serving clients like Circle K and reaching a $1.5 billion valuation in 2022. Recently, they partnered with Verifone, a leader in payment solutions, to deploy their technology in over 40% of U.S. convenience stores. This collaboration means faster checkouts, streamlined operations, and more customer-focused staff. How did they achieve this? 1/ Focus and Flexibility: founders spent countless hours understanding the pain points of consumers and retailers, ensuring their solution addressed real needs with a flexible approach. 2/ Rapid Iteration and Deployment: they quickly brought their product to market, iterating based on real-world feedback, which allowed them to continuously improve their technology. 🔗 Learn more about their journey and partnership here https://lnkd.in/dSCdwuVb #ACEVentures #StartupGrowth #TechInvestment #InnovationJourney #RetailRevolution

Self checkout -- it's not new, consumer attitudes toward it are not new, it's not going away. That said, there is a big opportunity for continued improvements of the technology. Shrink may/not be a big issue -- the grocery industry has been fighting that battle with cashier-staffed checkout forever. Let's see the testing/research on this. Over time, I think that we will all be doing "self checkout" -- it's just going to happen as you peruse the aisles (either physically or virtually), placing items in the cart. Instantaneously. https://lnkd.in/dFJYrZQs

Having a choice is good. But the complexity behind offering that choice (in a physical or digital store) shouldn’t be a burden on the customer (shopper). Saw this payment checkout experience at a local grocery store and curiously inquired the why behind it (why 3 pin pads for 1 checkout lane). The reason was simple: to provide customers with payment choices be it card (credit, debit, *pay, EBT etc.), cash, coupons n such. The experience pain for the shopper is high (confusion, error, intervention). For the retailer its even more (cost, lifecycle management at edge, skills) Inclusion shouldn’t compromise experience (and vice versa). Our checkout strategy and front-end best practices (underpinned by the Commerce platform, Edge architecture and device agnostic stack) by-design accounts for store complexity and provides simplicity of experience. It’s not hard. It’s the amalgamation of the right experience and the tech stack that differentiates great from good. Every experience at touch point matters and builds that brand stickiness. As a tech provider in this domain we care and empower retailers through this journey of evolving checkout experiences! Talk to us how we can help at NCR Voyix #checkout #experience

There has been a significant increase in the amount of self-service kiosks and unattended checkout experiences since the COVID-19 pandemic. It is interesting to learn the variety of ways that this technology has been implemented across different industries and how it is becoming many consumers preferred way of payment from this PYMNTS and Discover Global Network article.  #DiscoverEmployee #Payments #SelfCheckout #Technology #Future  

#DailyDealflow: Say goodbye to long lines at the checkout! Ultron-AI is revolutionizing retail with its cashier-less checkout solution. This cashier-less checkout solution eliminates the hassle of barcode scanning and cashier assistance. Simply place your items within view of a camera, and the system will instantly detect and recognize each product, making checkout a breeze. Plus, it can enroll products from a single image, without the need for extensive training, and it works from any angle in real-time, using standard hardware. Call to Action: Calling all #retailexecutives, and #ITmanagers. If you're eager to enhance the shopping experience and explore innovative solutions, we invite you to join us in analyzing the potential of this game-changing technology.

There has been a significant increase in the amount of self-service kiosks and unattended checkout experiences since the COVID-19 pandemic. It is interesting to learn the variety of ways that this technology has been implemented across different industries and how it is becoming many consumers preferred way of payment from this PYMNTS and Discover Global Network article.  #DiscoverEmployee #Payments #SelfCheckout #Technology #Future  

Seamless checkout is vital in Retail!

There has been a significant increase in the amount of self-service kiosks and unattended checkout experiences since the COVID-19 pandemic. It is interesting to learn the variety of ways that this technology has been implemented across different industries and how it is becoming many consumers preferred way of payment from this PYMNTS and Discover Global Network article.  #DiscoverEmployee #Payments #SelfCheckout #Technology #Future  

Unattended payment systems are revolutionizing the way we shop, bridging the gap between physical and digital experiences. From reducing operational costs to enhancing customer convenience, these innovations are reshaping retail. Curious about how they’re driving the future of commerce? Check out our latest article! #RetailTech #Innovation #UnattendedPayments #CustomerExperience

In a recent panel at Invenco by GVR’s 2024 RTC show, Curtis Hallowell represented CPI and shared his thoughts on the issues many retailers are facing with self-checkout kiosks. “There’s still a school of thought out there of, ‘I’m going to deploy self-checkout with credit only, I’m going to be fine.’ And for the most part, you’re going to be fine… but don’t underestimate the power of adding cash to your self-checkout.” Check out this article from Payments Dive featuring Curtis and other executives for more on this discussion! https://lnkd.in/eFx6Cz4c #Retail #CashAcceptance #SelfCheckout