Generation Next Franchise Brands Inc (OTCMKTS:VEND) is a company we’ve never talked about here on Street Register, but one that has a highly interesting backstory.
We’ve covered all kinds of businesses offering countless products and services, but ice cream vending robots is definitely a new one, even for us! That’s exactly what VEND’s subsidiary franchise concept, Reis and Irvy’s Inc, has going for it, and the company is attempting to also capitalize on the ever developing crypto craze at the same time.
Generation Next Franchise Brands Inc (OTCMKTS:VEND) announced today that Reis & Irvy’s will be the world’s first mainstream vending machine company to accept cryptocurrencies in exchange for a range of delectable frozen yogurt and ice cream consumables.
The Reis & Irvy’s vending robots will be equipped with the capability to accept several types of cryptocurrencies including: Bitcoin (BTC), Bitcoin Cash (BTH), Litecoin (LTC), and Ethereum (ETH). The first Reis & Irvy’s robots will arrive at nearly 1000 select locations across the United States this spring and summer.
The user interface on the robots is simple. Customers will experience a colorful and interactive 10-inch iPad touchscreen on which they may place their frozen yogurt and ice cream orders with a variety of flavors and toppings. At the checkout screen, customers will have the option to pay with cash, credit card, Apple Pay, Google Wallet or via crypto payment.
After much research and vigorous testing, the Reis & Irvy’s development and integration team has devised a solution that will automatically generate a QR code for customers to scan using their Coinbase wallet on their mobile device. This groundbreaking technology further solidifies the Reis & Irvy’s franchise brand as true revolutionary in the technology of vending robots. Finally, any of the estimated 11 million Coinbase customers will have the opportunity to exchange their cryptocurrencies into tasty frozen treats.
“Not only is using the Coinbase app easy and fun, but it is fast,” said Nick Yates, Chairman of Generation NEXT Franchise Brands. “Although it can vary, our initial tests show that the software takes less than 5 seconds to process for Bitcoin Cash and Litecoin transactions. Additionally, these cryptocurrencies boast a low transaction fee of only 3 cents or less. Our preliminary tests show that Bitcoin and Ethereum, which can also be utilized through Coinbase, aren’t processing quick enough at this time and, in our opinion, the fees still seem to categorize themselves as more of asset class then as a currency. Our Reis & Irvy’s franchisees can now capitalize on the new technology, generate more revenue, drive excitement and enhance the customer experience.” (Source: Globe Newswire)
VEND is definitely one of the more interesting stories we’ve run across in quite some time. We are very intrigued by the concept of frozen yogurt and ice cream vending robots, and VEND’s projects don’t stop there. The company also has Fresh Healthy Vending LLC, the market’s leading healthy-choice vending machine franchise, as well as other Generation NEXT Vending Robots, its newly established owner/operator model. On the whole, VEND has sold over 600 franchises throughout the United States, Canada, Puerto Rico and the Bahamas, and we are very interested to continue to follow the company’s activities from here on out. We’ll stay up on any further developments with VEND and pass them along to you! Stay locked on StreetRegister.com and be sure you’re signed up for our 100% free smallcap newsletter. It’s as easy as that! Simply submit your primary active email address in the box below. Subscribe now!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in VEND stock, short or long.