Poynt

Poynt, founded in 2013 by Osama Bedier, set out to modernize the retail payment landscape. Bedier, a former executive at Google where he led Google Wallet and PayPal, brought extensive experience in payment systems to his new venture. The company's core offering was the Poynt Smart Terminal, an all-in-one payment device designed to replace traditional credit card terminals. This terminal integrated multiple payment technologies, including magnetic stripe, chip cards (EMV), and contactless payments like NFC, Apple Pay, and Google Pay, into a single piece of hardware.

The business operated on a B2B model, targeting small and medium-sized businesses (SMBs) as its primary clientele. Poynt's strategy involved not just selling hardware but creating an entire commerce platform. The terminals ran on PoyntOS, an Android-based operating system, which allowed third-party developers to create applications for the device, adding functionalities like inventory management, loyalty programs, and sales analytics. This open-platform approach aimed to provide merchants with a customizable and future-proof system. Revenue was generated through the sale of the smart terminals and a recurring subscription fee for its software and services.

A significant milestone in the company's journey was its acquisition by the global domain registrar and web hosting company GoDaddy in December 2020. The deal, valued at $320 million in cash and $45 million in deferred cash payments, integrated Poynt's technology into GoDaddy's suite of services for small businesses. This acquisition allowed GoDaddy to connect its online offerings, such as websites and marketing tools, with in-person payment processing, creating a unified commerce solution for its customers. Following the acquisition, Osama Bedier transitioned to lead GoDaddy's new Commerce Division.

Keywords: payment processing, smart terminals, point of sale, SMB, FinTech, commerce platform, EMV, NFC, merchant services, GoDaddy acquisition