Newt has selected a diverse group of locations for its first launch, with 39 new locations, including pharmacies, office supply shops, bakeries, local food markets, and convenience stores. With this initiative, Newt completes tailoring the technology to its new Digital Payment Kiosks, continuing with its ongoing efforts of building a complete ecosystem that will allow consumers to make payments on multiple devices: through mobile apps, POS terminals, online, and now at Newt self-service kiosks.
The Kiosks feature a unique software technology to service customer demands for Contactless Cash & Payment Solutions within a physical Kiosk onsite. Newt’s self-service kiosks target a very particular addressable market – approximately 85% of Mexico’s over 100 million mobile subscribers, who are on prepaid mobile plans – a market estimated at USD $1 Billion per month, who typically top up their phones on a weekly basis.
The Digital Kiosk project is currently in collaboration with Everyday People Financial (“EP”), a credit card provider who operates in Canada, United Kingdom and Europe. This partnership allows Newt and EP to initiate its synergies together for significant growth opportunities as a payment facilitator. The initial implementation of Digital Kiosks will take place in high traffic Latin American stores, followed by a North American implementation in late 2021.
Newt has enabled a “Revenue Sharing Program” (“RSP”) with its B2B clients – a new service that will help them monetize their physical presence, while at the same time attracting new customers seeking to benefit from Newt’s growing inventory of payment services, including mobile top-ups, utility payments, government payments, subscriptions, and payment of highway tolls.
Mexican consumers have high predilection for the use of cash, and in the near future Newt’s self-service kiosks will include a feature to allow local governments and municipalities to collect government fees and municipal payments.
Currently and particularly considering the COVID-19 pandemic, Newt’s retail clients have a strong demand for contactless on-site cash and payment services. Newt’s latest solution, the deployment of physical Digital Kiosks in high traffic locations, is solving those needs.
Newt’s Digital Kiosks will provide contactless payments (non-person to person) in customer locations and will be complemented by “one stop shop” payment services, such as accepting cash for bill payments, purchasing digital gift cards, purchasing recharging services, signing up new customer accounts, and loading credit and prepaid cards.
Sergio Maya Aleman, CEO of Latin America of Newt Corporation, expressed his opinion on this recent development: “The inauguration of the 39 new Kiosk locations is something we are very excited about, as we want to bring payment services closer to consumers at locations they trust and visit most frequently. Our plan is to continue expanding our network all over Mexico City, as well as throughout the rest of the country in 2021.”
Steven Hoffmann’s company Newt Corporation is the differentiated business model that provides the ideal electronic transaction solution for small, medium and large companies.
Steven Hoffmann - Chairman/Founder of Newt Corporation 