Oracle ORCL recently announced that it extended its comprehensive retail cloud platform to include the Oracle Retail Payments Cloud Service aimed at resolving a host of unexpected payment processing fees and complexity which arises during in-store shopping.
With the solution, U.S. retailers can now accept the latest in contactless payment options, including debit/credit cards and Apple, Google and Samsung Pay, without the hidden fees and unpredictable costs that erode the bottom line.
Oracle Retail Payment Cloud Service provides a fixed rate and competitive pricing model that enables retailers to anticipate precisely how much they will pay for every transaction – regardless of the payment method used – there are no additional service or convenience fees, or monthly minimums.
The service runs on Oracle Cloud Infrastructure, having high-security standards, end-to-end encryption and PCI/DSS compliance. When integrated with Oracle Retail Xstore Point-of-Service (POS) and Oracle MICROS hardware, it provides a complete platform for payment acceptance through processing.
Oracle Corporation Price and Consensus
Oracle Corporation price-consensus-chart | Oracle Corporation Quote
Oracle Cloud Expands in the Retail and Hospitality Sector
With the retail and hospitality sectors opening up and thriving as the covid restrictions subside, Oracle has been making efforts to bring advancements in this sector to aid its top line.
Now, retailers have a single provider to manage their in-store operations, from staffing and inventory management to customer engagement and transaction processing.
In November 2022, Oracle launched the new Oracle MICROS Simphony mobile order and pay solution, which helps restaurants serve customers anytime and from anywhere. A customer, whether dining in, picking up curbside or lounging poolside, just has to use the handheld restaurant POS and payment device to place orders that are received in the kitchen within seconds.
To help restaurants stay relevant and profitable in the given rapidly changing market and labor shortage issues, Oracle Cloud Marketplace brought new integrations for MICROS Simphony POS. These new integrations include self-service kiosks, QR codes and AI, automated and tip gratuity distribution and behavior-based marketing.
The Oracle Cloud has been gaining traction from the casino business as well. Casinos across the United States are adopting Oracle Cloud to help simplify operations, boost revenues and enrich guest experiences. With these technologies, casinos are enhancing property and financial management and providing better services.
Casinos like Feather Falls Casino, Mohegan Sun and Robinson Rancheria Resort have adopted Oracle Cloud.
A direct competitor for Oracle in the hospitality sector is Agilysys AGYS, which is a leading technology company that provides innovative software and services for POS, reservation and table management, property management, inventory and procurement and workforce management.
It recently announced a meaningful addition to its Asia-Pacific customer portfolio, Mohegan INSPIRE Entertainment Resort, as one of its customers in the Asia-Pacific region that signifies key advancements for Agilysys in the Asia-Pacific region, including its first casino property and large-scale PMS deployment in South Korea.
Oracle Cloud Faces Tough Competition
Despite striving hard to make product enhancements to gain market share, Oracle is facing tough competition in the cloud service industry. This Zacks Rank #3 (Hold) company’s shares have lost 13.2% compared with the Zacks Computer and Technology Sector’s decline of 36.5%.
You can see the complete list of today’s Zacks #1 Rank (strong Buy) stocks here.
Other cloud competitors include companies like Amazon AMZN and Microsoft MSFT.
Amazon continues to dominate the global cloud computing space on the back of an increasing number of availability zones and regions served by Amazon Web Services as it opened one in Bangkok, Thailand some time ago.
Microsoft Azure has become the key growth driver for Microsoft. The company is currently riding on the robust adoption of Azure cloud offerings. Azure is increasing the number of available zones and regions globally as it gears up to open five data centers in the Asia-Pacific region.
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