Adyen (AMS: ADYEN), the global financial platform of choice for leading companies, announced the successful integration of Adyen for Platforms for TabSquare, a Delivery Hero entity, to further enhance customer experience across all channels for Quick Service Restaurants (QSR) in Singapore.
Adyen for Platforms is described as “an end-to-end payments solution for marketplaces, on-demand services, crowdfunding platforms, and platform business models. It enables the users of such platform businesses to offer simpler, faster and easier payment experiences for customers, while reducing manual processes and streamlining operations.”
To date, platform businesses using Adyen for Platforms “include leading international brands like Shopify, Lightspeed, and ROLLER.”
Keeping up with this momentum, Adyen welcomes TabSquare to Adyen “for Platforms in Singapore. TabSquare is an AI-powered technology solution provider for the F&B industry and through its solutions, restaurants can efficiently manage orders, process payments, and engage with their customers.”
Powered by Adyen for Platforms, TabSquare “introduces SmartPay, an end-to-end payments solution that provides its users with an integrated, cross-channel view of the end customers. With this partnership, TabSquare is able to unlock operational efficiencies and boost revenue for its users like Nasi Lemak Ayam Taliwang, among others.”
Anshul Gupta, co-founder, TabSquare, said:
“Adyen is a key ally in our journey to enhance and transform our digital payment services for F&B merchants. There are many payment solutions in the market, but most of them do not meet the unique requirements of the F&B segment. For our SmartPay solution, we have leveraged the capabilities of the Adyen platform and built our payment solution on top of it to address the requirements of the F&B segment. SmartPay seamlessly integrates into the restaurant’s TabSquare environment, offering a smooth and seamless ordering and payment flow. Restaurants can provide guests with expanded payment options, all processed in under 18 seconds. This leads to quicker table turnovers and potentially up to a 20% increase in their revenue.”
- Streamlined operations: Previously, staff of TabSquare QSRs had to manually input the transactions when customers foot the bill. Now, the integration of Point of Sale (POS) systems automates the process, enhancing accuracy and efficiency. This creates a positive ripple effect in operational efficiency as the reconciliation of finance reports on the backend is also made smoother. The combination of TabSquare’s kiosk solution with Adyen’s payment terminals also frees up time for staff to focus on other duties.
- Faster turnover of tables: Diners paying via the SmartPay@Table (QR code-based payment solution) take an average time of 18 seconds now to settle their bill, compared to 18 minutes if they were to pay in a conventional way, allowing the restaurants to turn tables faster and generate up to 20% more revenue.
F&B establishments may also choose to “use Adyen’s Tap to Pay on Android, which is a device-agnostic solution that turns any compatible Android device to a payments terminal. This allows QSRs to scale as needed, especially during peak hours when the table turnover rate is crucial to sales.”