Mifid redux? Esma insists on LEIs for repo collateral

European regulators are turning to an old trick to boost the adoption of legal entity identifiers (LEIs) – a ‘barcode for finance’, designed to improve …
European regulators are turning to an old trick to boost the adoption of legal entity identifiers (LEIs) – a ‘barcode for finance’, designed to improve …

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Plymouth’s new £53m cinema really will be called The Barcode

British Land chiefs said the development – which will include a Cineworld multiplex alongside restaurants, indoor crazy golf and a sky bar – has “a …

Plymouth’s £53million cinema and restaurant complex is going to be officially named The Barcode – because it looks just like one.

The complex, up until now known as Drake Circus Leisure, is being rebranded by bosses at The British Land Company Plc, which is having the Bretonside complex built.

They said its new moniker, Drake Circus The Barcode, is “inspired by the nickname given to it by local residents”, believed to have been coined in a story on Plymouth Live in June 2018.

In a piece headlined “Bretonside is coming to life before our eyes – and it looks like a giant barcode”, Plymouth Live wrote: “Some people have likened the building to a giant barcode.”

You either love it or hate it?
Drake Circus The Barcode (Image: Penny Cross / Plymouth Live)

No earlier mention of the leisure development’s likeness to a machine-readable code in the form of numbers and a pattern of parallel lines of varying widths, printed on a commodity and used especially for stock control, can be found from an internet trawl.

British Land chiefs said the development – which will include a Cineworld multiplex alongside restaurants, indoor crazy golf and a sky bar – has “a striking monochrome stripe design that has been compared to a barcode by locals”.

Architects working on the project had been told to create a building that reflected “the locality of the city near the waterside” and came up with “tri-coloured vertical fins set in contrasting colour changing ‘chameleon’ rainscreen cladding panels” designed to “help break up the elevation” and “create visual interest”.

The result was immediately likened to a barcode, but also to a pair of Adidas trews, a Newcastle United shirt, Bridget Riley artwork, a dazzle ship, piano keys, roadside chevrons, a zebra, a magnetic field, Joy Division’s Unknown Pleasures album sleeve, and, perhaps most appropriately, a clapperboard.

But The Barcode appears to have been the box office winner, and signage bearing the new name will begin to appear on the site soon, as the project moves into its final stages ahead of opening around October.

Drake Circus Leisure multiplex-led development is close to completion (Image: William Telford)

The new name had already excited logophile city council leader Tudor Evans who went into alliteration hyperactive mode and said: “The Barbican; The Box and now The Barcode. Brilliant – bring it on.”

The Barcode, which will span more than 100,000sq ft, is set to become a major visitor attraction in Plymouth.

It will house a 12-screen Cineworld IMAX 4DX cinema – the first IMAX in Devon and Cornwall – as well as Paradise Island Adventure Golf and new dining brands including Zizzi, Five Guys, Nando’s and Cosy Club. Plus, 400 new car park spaces will be available.

The complex will also bring a jobs boost for the city with about 350 people needed. Already Cineworld has started to recruit 82 staff and recruitment is beginning for its associated Starbucks outlet, and at Zizzi and for security staff.

Pun-loving Cllr Evans said: “In the past few weeks we’ve seen jobs being advertised and new businesses signing up to commit their futures to Plymouth. It’s all coming along nicely and I can’t wait to scan through The Barcode for the first time.”

How to contact William Telford

Business Live’s Plymouth journalist is William Telford, business editor at Plymouth Live. William has more than a decade’s experience reporting on the business scene in the Ocean City.

To contact William:

Email: william.telford@reachplc.com

Phone: 01752 293116

Facebook: www.facebook.com/william.telford.5473

Twitter: @WTelfordHerald

To sign up for Business Live’s daily newsletters click here

Meanwhile, Greg Lumley, centre director at Drake Circus Shopping Centre, also owned by British Land, said: “It has been fantastic to see our new development become known as The Barcode, it’s clearly a name that has stuck with residents and it would seem odd to name it anything else now.

“We’re on track with the works on site and it’s exciting to now be counting down the weeks to opening.

“We’ll be announcing the official launch date soon.”

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Innoviti Sues Pine Labs For IPR Infringement

Innoviti is backed by marquee investors including Catamaran Ventures, SBI Ven Capital, Singapore and Bessemer Venture Partners, USA.

Leading payments solution provider, Innoviti today announced that it has now begun legal enforcement of its patent rights, in view of several instances of commercial organizations in India being involved in selling/offering for sale payment products that may infringe on Innoviti’s patent for the payments processing technology that enables UPI payments at retail POS terminals.

Innoviti has filed a suit for infringement against one such entity, Pine Labs Pvt. Ltd. before the Hon’ble City Civil Court, Bangalore, and has been granted an ex-parte ad interim injunction against them w.e.f. 16th of July,2019. This, with immediate effect, prevents Pine Labs from manufacturing, selling, distributing, advertising, exporting, offering for sale, procuring and dealing with this technology through its Plutus Smart or any other device in India.

Innoviti’s invention for payments processing using transaction-specific dynamic-QR technology has been granted a patent by the Indian Patent Office, with patent rights in force till March 29, 2037. This transaction-specific dynamic-QR technology enables processing of payments using UPI, Bharat QR, and other QR-based payment forms through the same point-of-sale POS devices that are normally used for accepting credit/debit card payments. Innoviti has already licensed this technology to several partner financial organizations and is currently in discussion with more.

In everyday life, consumers normally come across a specific implementation of this transaction-specific dynamic-QR technology when they pay for purchases at a retail store via a UPI or Bharat QR payment app on their mobile phone. The transaction involves scanning a dynamically generated QR-code from the display screen of a regular credit/debit card POS terminal. Once scanned, the POS terminal automatically initiates a payment authorization request on the user’s mobile app, which in turn results in a UPI-payment charge-slip being printed and/or confirmatory SMS being generated.

Compared to static QR based payments that have been in use, the use of transaction-specific dynamic QR codes enables more frictionless, less error-prone cashier-customer interaction as well as enhanced payment reconciliation leading to better fraud control and more secure transaction processing. Unlike a single static printed QR code being used across all transactions at a merchant, the dynamic QR is generated uniquely for each individual payment transaction. Apart from payee merchant identity, it encapsulates vital additional data like the amount of purchase and a unique payment transaction id which automatically ensures a one-to-one linkage between a unique payment request and its corresponding payment receipt.

Innoviti is backed by marquee investors including Catamaran Ventures, SBI Ven Capital, Singapore and Bessemer Venture Partners, USA.


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Innoviti Payment SolutionsPine Labs

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Battery Ventures acquires NJ-based SaaS network provider 1WorldSync

Battery Ventures, a technology-focused investment firm, announced Thursday it has acquired 1WorldSync Holdings, a Ewing-based …

Battery Ventures, a technology-focused investment firm, announced Thursday it has acquired 1WorldSync Holdings, a Ewing-based software-as-a-service network for brands to securely share critical product data.

1WorldSync Holdings was established as a joint venture between GS1 US and GS1 German GmbH. Prior to this deal, GS1 Germany purchased 1WorldSync GmbH from 1WorldSync Holdings. Terms of both deals were not disclosed.

“Since its inception, 1WorldSync has been a pioneer in the competitive product content marketplace by providing customers with solutions that grow cross-channel sales, drive efficient content syndication and enable compliance and product transparency,” 1WorldSync CEO Karin Borchert said. “We look forward to collaborating with Battery Ventures to build on those many successes and believe that this is an exciting time for the growth trajectory of the company.”

“We have been tracking 1WorldSync for many years and have been impressed with its trusted, longstanding reputation in the market,” Morad Elhafed, a Battery general partner, said. “We are excited by the future growth prospects of 1WorldSync’s platform and feel we can provide additional resources to help expand the network and develop new product capabilities, while pursuing complementary acquisitions.”

“We are confident that Battery Ventures is the right partner to help 1WorldSync more nimbly create solutions at the pace and speed that industry and consumers demand,” GS1 US CEO and President Bob Carpenter said. “Additionally, as a neutral, standards organization and unique identification company, GS1 US will be better positioned to solely focus on addressing the growing needs of our members and solution partner network to advance the adoption and use of GS1 Standards.”

“Customer and consumer expectations for rich content vary across Europe and the US,” GS1 Germany CEO Thomas Fell said. “This business separation allows us to further develop our market-specific knowledge and expertise and develop solutions that are specifically tailored to our growing markets.”

Needham & Co. acted as the financial advisor and Locke Lord acted as legal counsel to 1WorldSync. Cooley acted as legal counsel to Battery Ventures and DLA Piper acted as legal counsel to GS1 US and GS1 Germany GmbH.

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SigNature T to ensure authenticity of Egyptian Cotton

Applied DNA Sciences, a leader in PCR-based manufacturing for product authenticity and traceability solutions, has received an order for the …

The cotton fibre will be managed with strict protocols throughout the supply chain to ensure purity and traceability.Applied DNA Sciences, a leader in PCR-based manufacturing for product authenticity and traceability solutions, has received an order for the implementation of its SigNature T cotton traceability system in Egypt to indelibly mark two varietals of high-value Egyptian Cotton, widely acknowledged to be among the finest in the world.

The molecular tag and delivery system have been shipped and cotton tagging is expected to commence within the month. The system, already installed in eight cotton gins worldwide, includes the use of unique SigNature T molecular tags, internet-based data collection linking evidence of tagging process quality to each bale ID, and bar code scanning of tagged packaged bales for inventory management and tracking.

The cotton fibre will be managed with strict protocols throughout the supply chain to ensure purity and traceability, the company reports.

“With receipt of this order for Egyptian cotton supply chain tagging and testing, we are moving to replicate our success in securing US cotton through its supply chain,” said Dr James A. Hayward, president and CEO of Applied DNA.

“Given the uncertainty surrounding the provenance of Egyptian cotton in the marketplace and growing calls for increased transparency and traceability by consumers, brands and industry advocates, the implementation of our SigNature T cotton traceability system endeavours to ensure that the value of Egyptian cotton can be substantiated throughout its supply chain.”

According to the Mundi Report, Egypt produced around 240 million pounds of cotton in the prior 2018 growing season, just below total US Pima output.

Applied DNA is a provider of molecular technologies that enable supply chain security, anti-counterfeiting and anti-theft technology, product genotyping and pre-clinical nucleic acid-based therapeutic drug candidates.

www.adnas.com

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