Costco Selects Vontier’s Invenco by GVR Technology to Power Advanced Payment Solutions Across Entire Canadian Portfolio
- FlexPay 6 Terminal and iNFX Architecture Selected for Maximum Uptime and Transaction Speed
- Invenco by GVR Will Begin Rollout to 76 Sites in October 2024
RALEIGH, N.C.–(BUSINESS WIRE)–Vontier Corporation (NYSE: VNT), a leading global provider of critical technologies and solutions to connect, manage and scale the mobility ecosystem, announced today that Costco Wholesale Corporation has chosen Vontier’s Invenco by GVR business to deliver advanced payment solutions at their 76 fueling sites throughout Canada, with rollout beginning in October 2024.
Costco is a high-volume fuel retailer and prioritizes maintaining exceptional member satisfaction, with maximum uptime and transaction speeds. Costco’s member experience will be further enhanced with Invenco’s cutting-edge technology, which allows for communication with members at the pump in new ways, including bespoke media and customized loyalty.
Invenco’s solution features the FlexPay 6 Modular 15-inch outdoor payment terminal and iNFX microservices architecture. For Costco, this means uptime benefits including over-the-air upgrades and optimum security and compliance. The iNFX solution also includes standards-based APIs and modular plug-ins, enabling seamless integration with Invenco’s, Costco’s, and other third-party hardware, software, and services. With the distributed iNFX architecture, the outdoor payment terminals also act as a standalone point of sales system – eliminating single points of failure common in traditional fueling architectures.
Costco and Gilbarco Veeder-Root (GVR) have a longstanding relationship in the fueling sector. Vontier’s acquisition of Invenco two years ago, plus the joining of so many integrated solutions under their umbrella, has led to a superior solution that simplifies support and ensures greater uptime at each fueling position.
“The name ‘Costco’ is synonymous with customer-centric obsession and we’re proud to help our longstanding partner continue to provide the best experience to their millions of members – who we know sometimes travel well out of their way to get fuel at Costco,” said Mark Morelli, President & CEO, Vontier.
“Invenco and GVR have worked closely with the Costco team to develop and implement this cutting-edge solution for their Canadian fueling stations,” said Karthik Ganapathi, President, Invenco by GVR. “Their relentless pursuit of enhanced uptime, faster transaction times, and improved member experiences has driven several improvements in our Invenco FlexPay 6 terminals – providing wins for everyone involved.”
The collaboration highlights the power of GVR and Invenco’s distributed fuel control and payments systems, which will be highlighted at the upcoming NACS Expo in October 2024.
About Vontier
Vontier (NYSE: VNT) is a global industrial technology company uniting productivity, automation and multi-energy technologies to meet the needs of a rapidly evolving, more connected mobility ecosystem. Leveraging leading market positions, decades of domain expertise and unparalleled portfolio breadth, Vontier enables the way the world moves – delivering smart, safe and sustainable solutions to our customers and the planet. Vontier has a culture of continuous improvement and innovation built upon the foundation of the Vontier Business System and embraced by colleagues worldwide. Additional information about Vontier is available on the Company’s website at www.vontier.com.
About Invenco by GVR:
Invenco by GVR, a Vontier business, is a global leader in the convenience retail industry. Built to help customers adapt and innovate to stay ahead, Invenco by GVR will be the operating system for convenience retail, producing agile solutions for accelerated growth and value. Invenco by GVR Solutions can be found in nearly 165,000 connected devices across 50,000 convenience stores in more than 50 countries. To find out more about Invenco by GVR visit www.invenco.com.
Contacts
Corporate Communications:
Nicole Beck
Director, External Communications, Vontier Corporation
Investor Relations:
Ryan Edelman
Vice President, Investor Relations, Vontier Corporation
