Gruden Group teams up with online payments giant PayPal
Market leading provider of digital transformation services, Gruden Group (ASX: GGL) has forged an important partnership with PayPal, the online global payment system which supports online money transfers and serves as an electronic alternative to traditional paper-based methods.
This news comes only days after the company announced that it had achieved a sharp uptick in revenues in the March quarter, resulting in the company’s shares surging nearly 20%.
It should be noted here that share trading patterns should not be used as the basis for an investment as they may or may not be replicated. Those considering this stock should seek independent financial advice.
PayPal represents 6.7 million Australian customers who under the agreement with GGL will now be able to use the services for payment at Quick Service Restaurants’ (QSR) large portfolio of fast food outlets which includes the rapidly expanding Red Rooster chain.
Payment capabilities are in addition to mobileDEN’s existing Master Merchant agreement with Westpac which expedites on-boarding of franchised stores for large franchise groups.
Partnership represents an endorsement by global online payments giant
Not only is this a strategically and financially beneficial development for GGL, but it is an endorsement of the quality of the company’s platform by one of the largest global players in the online global payments arena.
As a result of this agreement mobileDEN brand customers will be provided with a seamless reporting tool from a single source that will enable brands to easily consolidate the transactions processed by franchisee/store and payment method (cash, credit card, loyalty points or PayPal).
From a consumer’s perspective, the end user who makes a purchase at a franchised store using the mobileDEN app will see the actual brand purchased on their statement, as opposed to the name of the individual store or mobileDEN, improving the customer experience.
This is just another dimension that fits neatly with the rapid transition that is occurring in the fast food/takeaway industry as GGL Chief Executive Tim Parker touched on in discussing the role his company has played in Red Rooster’s expansion.
While this is only representative of one of a comprehensive portfolio of large clients which also includes government departments, Parker explained, “Our partnership with Red Rooster has been a huge success and our platform is now powering their home delivery service and loyalty apps, playing a significant role in the transformation of the Red Rooster business.”