Shift4 has launched Shift4 One, an all-in-one solution that combines payments, dynamic currency conversion, and tax-free shopping in a single portable device. The Tax-Free Shopping functionality is powered by Global Blue, a company Shift4 has acquired.
The Shift4 One device automatically detects transactions that may be eligible for currency conversion and for tax refunds to streamline operations, reduce the complexity of dealing with multiple providers, and help merchants lower costs, while delivering a better customer experience and driving additional revenue. After its initial rollout in the United Kingdom, Ireland, Spain, and Germany, Shift4 One is expanding across Europe with the goal of being present in 15 countries by the end of the year.
“Shift4 powers commerce in the world’s most memorable experiences, and this simple, integrated solution represents a significant advantage for merchants and international shoppers,” said Taylor Lauber, Shift4 CEO. “Travelers often have questions about exchange rates or how to claim the tax refunds they’re entitled to. Shift4 One eliminates that uncertainty and makes shopping abroad as easy as shopping at home.”
This single device tackles several of the most common pain points in international travel. For example, when a Japanese tourist buys at a Paris boutique, Shift4 One automatically recognizes the customer as international. The system immediately offers the option to pay in Japanese yen with the exchange rate locked in at the moment of purchase, so the buyer knows the exact amount they will pay. Shift4 One automatically calculates the tax refund amount and automates the process, eliminating manual paperwork and shortening the wait time to receive the refund. Merchants with automatic detection of Tax-Free-eligible transactions tend to double Tax-Free transaction volume versus those without the feature, translating into additional revenue and higher customer satisfaction.
Since Global Blue was acquired by Shift4, Shift4 One marks the first jointly developed product from both companies, combining Shift4’s payments expertise with Global Blue’s track record in international shopping and Tax-Free management. Designed for SMBs serving international customers, Shift4 One provides an integrated, secure, and efficient checkout that streamlines operations and drives additional revenue for merchants, while delivering a smoother and more transparent experience for customers.
