POS Data Firm Yocuda Sells Majority Stake

Tourism shopping tax refund company Global Blue has become a majority stakeholder in Yocuda, which enables retailers to capture customer data at point-of-sale (POS) and re-engage with them through a customisable digital receipt. Terms of the deal were not disclosed.

Yocuda's technology is used to send personalised digital receipts to each customer, based on who they are and what they've purchased. Customer details are captured at point-of-sale and the digital receipt is sent as soon as the transaction is processed, in order to drive additional sales with targeted offers, product recommendations and the promotion of new collections or products. In addition, the process can be used to collect customer feedback via surveys, ratings or reviews, or to offer additional services such as appointments, repairs, tips, advice or product care information.

The deal, which means Global Blue now owns 56% of Yocuda, will enable it to expand its RetailTech offering, through which international shoppers receive can claim back the VAT on their eligible purchases when they shop abroad. It will also help retailers respond to changing local regulations, such as those in France where the government has recently announced plans to ban the automatic printing of paper receipts from January 2023.

Edward Drax (pictured), MD of Yocuda, comments: 'With Global Blue's retailers, contacts and resources, we will be able to accelerate Yocuda's global growth and product roadmap. We are looking forward to working with Global Blue in new and existing markets and to providing ever more sophisticated and useful products to retailers and their customers'.

Web sites: www.globalblue.com and www.yocuda.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.