Vendekin Technologies and Marshal expand virtual commerce in MENA
Vendekin Technologies, a pioneer in the digitization of vending machines, and Marshal - the largest enabler of payment technology in the Middle-East - have entered into a partnership to expand the 'V-Commerce' ecosystem in Middle East and Africa.
Marshal Fintech Partners - one of the oldest FinTech companies in the GCC backed by its CEO, Gaurav Dhar and the GFH Financial Group of Bahrain - holds an 85% market share in the UAE with their tailor-made POS and transaction automation solutions across multiple sectors that have changed the way people transact on a daily basis.
With the looming pandemic, Marshal anticipates permanent changes in the way consumers interact with the retail mix.
People will avoid crowded places and expect their shopping experience to entail minimal contact while catering to their demands instantly. Marshal foresees touchless automatic vending solutions as a means to adapt to these changing consumer needs.
Marshal has joined hands with Vendekin to introduce minimum contact and touchless retail technology to the Gulf region with Vendekin's state-of-the-art vending platform.
Vendekin was founded in 2016 by Aroon Khatter. It is a funded start-up backed by industry stalwarts, offering solutions to transform existing equipment into unmanned digital retail micro stores with its patented technology of touch-free dispensation and cashless payments.
Vendekin offers a mobile-first approach for vending and unmanned retail: a touchless purchase experience for the consumer, a digitally optimized supply chain for vending operators, advanced insights and a new channel of sales for FMCG brands.
Aroon Khatter, Founder and CEO, Vendekin, says, "We are excited to partner with Marshal for the GCC. Marshal's extensive experience and network in the region is unparalleled and will be a great driving force in the adoption of touchless technology and the growth of V-Commerce in the region."
Gaurav Dhar, CEO, Marshal, says, "Marshal's partnership with Vendekin is in line with our vision to bring about transformative payment solutions to our customers. We believe that cashless and touchless retail will see an exponential growth in the near future, and we are excited to be bringing such conveniences and experiences to the MEA region in partnership with Vendekin."
In light of COVID-19 and the new safety mandates from competent authorities, Marshal and Vendekin are working with various vending partners to install touchless hand sanitizer and mask dispensing machines at public sites including hospitals and airports, to help safeguard the health and safety of citizens. Thereafter, Marshal and Vendekin are looking at forging towards digital transformation and growth of the V-Commerce ecosystem in the GCC.