Founder Interview: Shlomit Kugler, Co-Founder and CEO, MyCheck
Expanding on her initial thoughts behind the founding of MyCheck, Shlomit Kugler (Co-Founder and CEO) offers insight into how MyCheck evolved from consumer app to robust tech platform, and her plans for global expansion…
Building an app into a platform
MyCheck began as a consumer facing app, but is today a robust and extensive technology platform used by both small restaurants and large hospitality chains for their branded mobile applications. MyCheck now incorporates multiple functionalities beyond simply payment, such as loyalty, notifications, online ordering and more.
Each functional task creates an opportunity to deliver a unique experience for brands and businesses. The MyCheck platform also powers a variety of other consumer apps that are also focused on the hospitality sector, such as Paypal, to provide a seamless experience for diners in restaurants.
“The secret sauce is our integration with over 27 different POS systems worldwide, this makes it easy for merchants to adopt our mobile payments solution.” Clearly Kugler and the MyCheck team have learned considerably more about payments infrastructure since that first meal.
Becoming a global business
MyCheck is now looking to take the next step in their story. Kugler sums it up in simple terms: “We know the platform works. We know what we want to do. Now we simply need to execute.”
That means scaling up internationally. The USA, UK, Latin America and Israel are all key market opportunities. Santander Group’s presence in most of those geographies offers MyCheck a fast track to market entry.
New geographies also mean understanding different transaction processes in each country, recruiting merchants and building new partnerships. “Knowing we have a friend in Santander makes us more confident about entering some of those more distant territories.”
Despite their success the MyCheck team haven’t lost their outsider’s eye. Kugler and team are now looking hard at the hospitality industry. “It’s the same kind of problem. Hotels haven’t been great at offering an easy checkout experience. That’s what we do really well. Watch this space…”
You can check out the first of this two-part series detailing how Shlomit and the other founders initially came up with the concept of MyCheck here.