SumUp, the financial partner for small businesses across the globe, recently confirmed the introduction of SumUp Magic Pay, a QR code payment service for the hospitality industry.
Hospitality client behavior has been changing in a post-pandemic environment. As the sector reopened in different phases, it became clear that we were now more accustomed or familiar with using QR codes and after a few years of life going digital – from work, to celebrations, to workouts – we now increasingly expect to have everything at our fingertips.
On the other side, the ceremony of dining out, of visiting a new restaurant or bar, is something we still look forward to.
So, in response to this shift, Fintech SumUp has introduced Magic Pay. Now, at the end of a meal, everyone at the table will be able to receive a copy of the bill, by simply scanning a QR code on the table.
From this point, a bill may be split, a tip conveniently added, and payment completed (Apple or Google Pay both an option). Receipts may then be sent through email as well. No app, account or any admin – simply scan, split, pay.
During a 3-month testing stage, where more than 100 restaurants in the United Kingdom had reportedly trialed Magic Pay, SumUp learned that:
- On average, “almost half of guests chose the QR code payment method Tips for wait staff increased by 38% on average – thanks to the prompt in Magic Pay”
- Magic Pay “saves wait staff about 12 minutes per table – 12 minutes that they can use to provide better service”
- Only 2 out of over 100 restaurants “stopped using Magic Pay, all the others are still going strong”
- For restaurants, the technology “is seamlessly integrated within the UK’s number one point-of-sale solution – making life easier for frontline hospitality staff.” The technology “makes receiving payment easier and faster, and seizes upon customer behaviour changes.”
Joseph Flynn, Head of Order & Pay at SumUp said:
“SumUp has spent a decade at the side of entrepreneurs and SMEs. Our mission is to make business life as simple and efficient as possible – and to remove the stress of taking payment. Magic Pay will provide a win-win for merchants and customers alike through its easy integration and user-friendly design – just scan, split, pay.”
Monika Grybauskaite, Manager at Darjeeling Express (as featured on Netflix’s Chef’s Table, www.darjeeling-express.com):
“Magic Pay is a great system to work with, it’s easy and fun to use. Magic Pay saves our guests time when paying the bill, they can even split it with friends without the struggle to calculate. Our team loves it and our guests love it! We are happy to be part of it. “
As mentioned in the announcement,, SumUp has expanded into point-of-sale solutions, and with the acquisitions of Goodtill, Tiller, and Fivestars, the Fintech is strategically expanding its presence within the restaurant and retail sectors.
In June of this year, SumUp acquired additional funding, totaling £510 million, that gave the firm an enterprise value of nearly £7 billion after 10 years of steady growth and international expansion efforts.
