Gas Pos executives and officials announce Thursday that the company has relocated its headquarters to North Little Rock and will create 30 jobs.
Gas Pos announced Thursday that it has relocated its headquarters to North Little Rock from Birmingham, Alabama, and will create 30 high-paying technology jobs.
The startup provides a free point-of-sale system and low-cost EMV card readers to increase payment security for truck drivers and ensure financial security for gas station owners.
Rep. French Hill; Gov. Asa Hutchinson; Mike Preston, executive director of the Arkansas Economic Development Commission; and Jay Chesshir, president & CEO of the Little Rock Regional Chamber attended Thursday’s announcement at the Little Rock Technology Park.
Hutchinson said in a news release, “The company’s success is a direct reflection of our state’s talented workforce and pro-business environment.”
Preston added, “More technology companies are choosing Arkansas, which means more jobs for our state’s growing tech workforce. Some people think that you must live in Silicon Valley to succeed in technology, but we continue to prove them wrong every day.”
Gas Pos is a graduate of the 2018 Venture Center FinTech Accelerator, which is sponsored by global financial services company FIS of Jacksonville, Florida, and the state of Arkansas. It is the sixth company to relocate to the Little Rock metro area after completing the accelerator. The others are Mortgage Peer Network, Lumoxchange, Pfitr, Bond.ai and Egiftify.
Gas Pos is also the third tech firm to relocate or expand within the Little Rock metro area in the past nine months. The others are Altimize and BankLabs.
Chesshir said in the release, “With easy access to capital and talent, plus a low cost of living, young tech companies have recently found themselves thriving in central Arkansas. The VC FinTech Accelerator backed by FIS is an invaluable benefit to our region. It has attracted world-class talent to our city, many of which stay and relocate their companies after seeing the area’s potential.”
In addition, the company’s relocation coincides with its launch of an EMV-at-the-pump system. The technology comes at a time when gas stations must replace their magnetic strip-based pumps with EMV chip-reading pumps or be held liable for any fraud incurred through those pumps. The changeover deadline has been extended from 2017 to October 2020.
According to the release, Gas Pos aims to help gas station owners avoid paying for new pumps, which cost about $17,000 each. And its free point-of-sale system makes payments secure inside the stores.
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