The Silicon Review
“Paytronix employs the latest software development techniques, languages, and tools to build its world-class rules engine and data centers, including AWS and Microsoft Azure.”
Retailers and restaurants have faced heavy online and offline competition over the past several years forcing them to focus on delivering a frictionless guest experience. Payment, convenience, and loyalty are at the heart of how some brands deliver high-revenue growth.
In light of the above-mentioned scenario, we’re thrilled to present Paytronix Systems, Inc.
Paytronix provides guest engagement and payment solutions to restaurants and retailers. Its proprietary platform helps brands grow guest spend. The enterprise-class platform hosts loyalty, CRM, gift, and payment programs for more than 350 brands.
Paytronix Systems was incorporated in 2001 and is headquartered in Newton, Massachusetts.
Paytronix President Andrew Robbins spoke exclusively to The Silicon Review.
Q. Why was the company set up? And what did you propose to bring into the market?
During several years as venture capitalists, we recognized a gap in the market at the intersection of convenience, loyalty, and payment. And we knew we could solve this. Most competitors at the time were providing à la carte solutions that did not solve the problem, causing us to ask the question, “Why not create one platform that helps clients solve for all of these and more?” We quickly recruited a few more engineering geniuses and went to work to build a platform that has enabled millions of patrons to experience frictionless engagement with payment, loyalty identification, loyalty accruals, and redemptions, resulting in billions of incremental transactions every year.
Today, we see ourselves as the "increase transactions" company. By integrating to the retail technology environment – point of sale and online ordering—we mirror an online experience with convenience, personalization, and speed, helping retailers and restaurants use consumer insights to drive transactions. We take pride in the impact we have made on the businesses we serve.
Q. What is the current market scenario? And what is your company’s position in the market?
The current marketplace has a big gap between solutions offered by competitive brands and what clients need partners to deliver in three areas:
With Paytronix, a single installation connects clients to all solution modules, from gift card programs to one-to-one promotions. After that, clients can simply turn on what they need when they need it without an additional installation or new training. It is one integrated solution, accessed from an easy-to-use portal that focuses on the best short- and long-term pathways for success.
Paytronix puts clients’ needs first and believes that true results come from:
As a result, Paytronix clients motivate at least 20 percent of their customers to visit 20 percent more frequently, producing a 4 percent transaction increase.
Q. What are the factors that make your company stand out from the competition?
Best-in-class technology: Paytronix employs the latest software development techniques, languages, and tools to build its world-class rules engine and data centers, including AWS and Microsoft Azure. An architecture built for speed, scale, and reliability delivers unmatched transaction speeds and uptime to more the 26,500 installed locations. The system was built for payments precision which enables Paytronix to deliver accurate SSAE18 audited liability reports for both publicly held and private companies. Frictionless customer experiences are a result of more than 30 point-of-sale integrations, plus integrations with Apple Pay and Google Pay, and more than 100 other retail technology environment players.
Leadership that provides clear direction: Every Monday the company begins the week with
a company-wide meeting. Company leaders call out successes, announce upcoming initiatives, and generally maintain transparency in company decisions, direction, and growth. As a team, we celebrate wins, learn from experience, and collaborate to solve challenges.
Communication between leadership and work groups enables identification of barriers and road blocks to completing projects so that leadership can quickly modify resource allocation to achieve results. Together we propel the company forward with an unmatched level of commitment. Paytronix has been nominated one of Boston’s Best places to Work.
An organized, process-oriented approach: Paytronix leadership has instilled a culture of establishing processes that enable teams to be client-goals oriented. We believe that only success that is planned can be repeated. The team is set up for success and inspired to work together to problem solve. This has three parts:
A collaborative environment: Paytronix is a lean, flat organization with about 160 employees. It hires about 30 new college graduates every year. Those college graduates can contribute to the company in several ways from the moment they join. From impacting the culture to shaping the product, every team member has a voice that is heard. Paytronix has a proven recruiting methodology that results in a fantastic group of smart, curious, and empathetic people who say things on Glassdoor like, “Awesome product, great support team and vision for the future, aggressive compensation plan, really good benefits. Work space is cool, the people are really easy to work with.”
Exceptional customer satisfaction: Paytronix customers are thought leaders in the space. We frequently hear them say things like: “Now we have a powerful system that can do a whole lot more, especially with custom promotions and 1-to-1 marketing,” and “Paytronix delivers measurable loyalty marketing results so I can clearly identify the return.”
In 2017, Great Hill Partners invested $65 million representing the first institutional investment in the company. Andrew Robbins continues to lead with a strong foundation in engineering and business acumen, while Matt d’Arbeloff brings finance and sales expertise to the table as they continue to achieve more than a 25 percent year-on-year growth annually. With perfectly complementary skills, an eye for valuable innovation, and an exceptional talent of recruiting smart, empathetic and curious employees, Robbins and d’Arbeloff, the company’s original founders, have carved out a leadership position for Paytronix in both the restaurant and retail markets it serves.