NEWARK, N.J., Feb. 15, 2023 — National Retail Solutions (NRS), operator of the leading point-of-sale (POS) platform for independent retailers, today announced the expansion of its network to Canada.
“NRS has been focused exclusively on the U.S. market,” said Elie Y. Katz, CEO of NRS. “We developed a powerful POS platform that enables our domestic independent retail partners to operate more profitably and compete more effectively against large retail chains. Now, we are very excited to bring these advantages to retailers in Canada.”
The NRS platform provides independent retailers, including convenience, tobacco, and liquor stores, with a purpose-built, integrated hardware and software solution. Store management tools include a price book, inventory management solutions, sales reports and statistics, vendor payments, remote operations management through the My NRS Store mobile app, in-store promotions, e-commerce, a customer loyalty program, and more.
NRS will also offer its Canadian retail partners NRS Pay, a straightforward, low-cost credit card processing service. NRS Pay is free of long-term contracts, termination costs, and the pernicious hidden fees often charged by other credit card payment processors.
Eli Korn, NRS’ COO, commented, “The Canadian market, with its significant, heterogeneous immigrant population, is a natural stepping stone as we begin to build out our capabilities for international expansion. We expect that terminals operated by retailers in markets outside the U.S. will gradually become a significant contributor to NRS’s long-term growth.”
NRS is currently deploying its POS terminals to select retailers in Toronto and plans to expand to other Canadian cities in the coming months.
About National Retail Solutions (NRS):
National Retail Solutions operates the leading point-of-sale (POS) terminal-based platform and digital payment processing service for independent retailers and bodega owners nationwide. Retailers utilize NRS offerings to process transactions and manage operations more effectively, enabling them to successfully compete against large retail chains. Advertisers access the terminal’s digital display network to reach these retailers’ massive, predominantly urban customer bases. Consumer packaged goods (CPG) suppliers leverage the NRS platform to provision promotions, coupons, and special offers to independent retailers. NRS is a subsidiary of IDT Corporation (NYSE: IDT).
All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, IDT assumes no obligation to update any forward-looking statements.
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