On the Cover: Knights Global is newest shining example of industry-friendly fintech

It’s been often stated that necessity is the mother of invention. Sometimes, though, that invention is spurred on by the desire to improve an existing product or tailor it to one’s needs. For veteran club owner Dino Palmiotto, it’s this spirit of innovation that drove him to create the product that he, a club owner, would want to have: Multi-purpose, state-of-the-art software and kiosks to better manage his “cash” transactions, including ATM, cryptocurrency, and move this aspect of his business further into the 21st century.

“I have lived in this world for a long time and seen so many changes,” says Palmiotto, who
has more than a quarter-century of experience in the gentlemen’s club industry, most notably with Exposé in San Diego. “I understand the challenges of owning and running a club. It’s not something most people can do, and my hat is off to my fellow club owners and managers for navigating all the regulation, personalities, and financial issues involved.

“I really don’t think people outside the industry understand our needs, and that’s evidenced by what people try to sell me,” he continues. “So, I think it’s great when someone knows what you need from actual experience and I believe that’s reflected in our company when it comes to the adult club segment.”

It should be no surprise then, as someone who routinely deals with clubs and its internal workings, that Palmiotto has put his best foot forward with Knights Global, a software company with multiple applications and multi-service kiosk designs configured to today’s market. Knights Global can work with both its own hardware or other manufacturers’.

“We own and develop all our software which gives us the ability and agility to stay current
in this rapidly changing environment,” says Palmiotto, who believes his industry experience “gives us a unique advantage meeting the needs of the adult club industry.”

“We think in terms of applications. ATMs? Sure. Bill changing? We have that. A merchant portal for the direct purchase of any product or service? Bill pay? Cell phone top-up? Yes, to all that. We own and develop all our software which gives us the ability and agility to stay current in this rapidly changing environment.” — Dino Palmiotto

Besides owning and operating a club, Palmiotto has been involved in the financial industry through ownership of a company that provided merchant processing and ATMs.

“Out of frustration with what was available, I designed an application to manage my clubs and assembled a team of software developers,” says Palmiotto. “The pieces were there, and as I became aware of cryptocurrency I could see all these areas converging. The few machines I saw that would accept cash to purchase cryptocurrency were clearly limited by their software and I knew a different approach was needed if I would use a kiosk in my own club, let alone sell it to others in the industry.”

He adds, however, that Knights Global’s goal is to provide overall flexibility versus individual products.

“We think in terms of applications,” he continues. “ATMs? Sure. Bill changing? We have that. A merchant portal for the direct purchase of any product or service? Bill pay? Cell phone top-up? Yes, to all that.”

Palmiotto isn’t bragging as much as he is illustrating the point that Knights Global’s software platform allows them to keep adding applications, using the machine as a secure payment center that can also handle cash.

“More applications and integrations are coming,” Palmiotto adds, “and every app ties into our back- end software that provides transaction history, management, and reporting.”

From software to hardware: The Knights Global Kiosk
Knights Global’s most popular product is its multi-service kiosk, which comes in multiple configurations ranging from bank-grade machines with an 8,000-note capacity and a bill recycler to machines with more modest capacity while still capable of running all the most popular applications.

Some of the features besides traditional ATM functions include the ability to buy and sell cryptocurrency, a bill change app which clubs always need, a merchant portal allowing for payment at the kiosk, bill pay, mobile phone top-up, gift cards, and other applications currently in development.

In this era of rapidly evolving financial technology (fintech), it behooves club owners to roll with the times — especially when there have never been more cashless payment options.

“Cryptocurrency is unavoidable,” says Palmiotto. “It’s constantly in the news and I guarantee that many, if not most, patrons and staff at any club have thought about it or own it. Many people believe it’s the future of money. Maybe it is or isn’t, but it’s absolutely true that it serves as a currency in today’s world. We know that the ability to buy and sell cryptocurrencies such as bitcoin on-site adds to a club.”

It all contributes to how Palmiotto sees the multi- service kiosk as both a profit and convenience center for clubs because customers can get all their needs met in one fell swoop.

“We saw this coming, and while cash is still king, the ability to buy and sell cryptocurrency and to utilize the kiosk as a user-friendly point of sale interface, without personnel handling cash, is a growing trend not to be overlooked,” adds Palmiotto. “In this business you’re either ready for what’s coming or ready to be left behind.”

We saw this coming, and while cash is still king, the ability to buy and sell cryptocurrency and to utilize the kiosk as a user-friendly point of sale interface, without personnel handling cash, is a growing trend not to be overlooked. … In this business you’re either ready for what’s coming or ready to be left behind. — Dino Palmiotto

Advanced hardware technology now exists to make the user interface more accessible and robust than ever, but one of the best reasons to upgrade is to gain state-of-the-art software. Knights Global’s platform makes the customer experience easier than ever to use, while maintaining standards of privacy, security, and regulatory compliance. One of the concrete advantages for club owners is the platform’s back-end reporting and transaction management — all on a secure cloud-based platform.

“The key value proposition will be based on the ability to manage multiple kiosks from a single cloud-based software suite,” says Palmiotto. “Status, alerts, and flexible reporting will reduce the costs and complexity of managing placements. The adult nightclub is about creating an experience that patrons will want to revisit again and again. We believe expanding your portfolio of services — while making transactions more efficient and trouble-free — is worthy of your consideration.”

For more information, visit knightsglobal.com.