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Posera (TSX:PAY) Has formed a joint venture with DTL Labs, to deliver Blockchain Technology

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Posera, a leading provider of software solutions for the hospitality industry, has formed a joint venture with DTL Labs, a global leader in blockchain solutions for enterprises, to deliver Blockchain technology into the hospitality point of sale ecosystem.

Additional Information:

Company: Posera
Stock Symbol: TSX: PAY
Date Published: Oct 24, 2017
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Posera, a leading provider of software solutions for the hospitality industry, has formed a joint venture with DTL Labs, a global leader in blockchain solutions for enterprises, to deliver Blockchain technology into the hospitality point of sale ecosystem.

For those new to Blockchain, it is a special technology for peer-to-peer transaction platforms that uses decentralized storage to record all transaction data.

Blockchain, first developed to serve as the basis for the cryptocurrency “Bitcoin”, is a self-sustaining, database technology for managing and recording transactions with no central bank or clearinghouse involvement.

Because blockchain verification is handled through algorithms among multiple computers, the system is immune to tampering, fraud, or political control.

Moreover, because every core transaction is processed just once, in one shared electronic ledger, blockchain reduces the redundancy and delays that exist in today’s banking system.

By integrating Posera’s payment processing technology with blockchain, all parties in the payment processing ecosystem, including 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.

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.

The company also provides Maitre'D®, a point of sale system 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.

Akash Sahai, Posera’s EVP, Strategy and Business Development, stated: “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.”

DLT Labs is a global leader in the development and implementation of Blockchain solutions for enterprises.

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.

Neeraj Srivastava, DLT Labs’ Founder and CTO, stated: "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. 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."

The shares are trading at $0.23, and with 118.4 million shares outstanding, the company is capitalized at $27.2 million.

For more information, please visit the company’s website www.posera.com or contact Kevin Mills, CFO at 416-703-6462 ext 2203 or email ir@posera.com.

I’m Samantha Deutscher for Investmentpitch Media