Sunday payment solution to revolutionise hospitality sector
The US technology and payment solutions QR startup, Sunday, look s set to revolutionise payment services in the hospitality sector.
The Atlanta-based fintech, which raised $20m in seed funding capital earlier this week, has teamed up with Big Mamma founders and has received support from numerous hospitality investors.
The new payment method enables transactions to be completed in just 10 seconds, streamlining the process through the use of QR codes. Experts say the technology saves hours of time and money through its simple and swift interface.
Faster dining experience
The QR codes allow for contactless payments, but when used in the hospitality industry, it also speeds up the dining experience as customers don’t need to flag down staff in order to be able to pay. This also helps the tables to turn over faster.
Speaking about the new technology, Christine de Wendel, founder of Sunday, explained, ““It’s simple: we do bett er for cheaper. For the customer it’s great and for the restaurant owner and his staff it’s great and profitable. QR codes are now totally standard. Restaurants are using them for menus, so it’s perfect timing, but we have to move fast.”
Jeremy King, CEO of Corbin & King, said of the technology, “The end of a meal can so often be ‘make or break’ in the experience of a restaurant-goer. It doesn’t matter how good your welcome is, the quality of your food or friendly and efficient your service, if the payment becomes protracted or uncomfortable then that’s the lingering memory. Your staff will have more time to serve and your customers can more easily show their appreciation – Sunday is a Win-Win.”
"Sunday is a game changer for us," agreed Brendan Sodikoff, chief executive officer of Chicago-based Hogsalt. "Rega rdless of whether our establishment is fast casual or more refined, giving guests control of their valuable time means we turn tables faster and improve service. sunday keeps our guests moving and our employees focused on what matters most!"
Sunday expansion strategy
De Wendel predicts Sunday will double in size in three months, and is already building a team of approximately 40 engineers and 40 sales and operational employees.
The founding team has already piloted Sunday's technology at 14 Big Mamma restaurants in Europe. According to the six-month trial, 80% of customers used the QR code, and this resulted in tables turning over 15 minutes faster than usual, saving the customer time and allowing for the restaurant to do more business.
Rapid expansions in the UK and across Spain, France and US are currently planned. The payment solution will also be implemented into thousands of restaurants including the Hoxton, the JKS Groups, Hoppers, Brigadiers, Gymkhana, Flors and Corbyn & King locations, The Wolseley, Bellanger, Colbert, Zedel and more.
Sunday is partnered with leading US payment systems and technology giants, including Oracle Micros, Brinks, Tiller, Zelty, Revo, CashPad and others, which has made deployment of the service easier and faster.
Currently, the startup is working with more than 1,300 restaurants in Europe to launch the technology.
Tink partners with Novalnet AG for open banking payments
The Munich-based fintech Novalnet AG, which was founded in 2007 and is one of Europe’s leadingfintech companies, has announced a new partnership with Tink, the Swedish open banking platform currently connected to more than 3,400 European banks.
Novalnet AG delivers payment solutions and fully automated services, from checkout to debt collection. Its solutions are also available worldwide.
According to reports, the fintech company plans to launch a real-time payments feature for merchants across Europe, to expand its current services and enhance the transaction experience it operates through its platform.
The new feature, says Novalnet, will revolutionise payments for ecommerce with transactions being credited to merchant’s accounts almost instantly.
Novalnet partnership with Tink
By partnering with Tink for payment initiation services (PIS) technology, Novalnet will take previous region-specific payment methods and offer a new unified digital payments service to its merchants across Europe.
The fintech’s real-time merchant payments feature, which will be launched initially in Germany and the United Kingdom, will then be integrated across other European markets during 2021.
Speaking about the new collaboration, Emmanuel Kirse, COO of Novalnet, explained, "We expect great things from our strategic partnership with Tink, which is a significant development for both parties.
“With Tink, Novalnet can offer a new set of open banking-related solutions in Europe. The new opportunities offered by this partnership will help both Tink and Novalnet grow together, along with our merchants."
Cyrosch Kalateh, Regional Director for the DACH region at Tink said, “Our partnership with Novalnet is a big step for Tink in the German market, and we are excited to work together to bring new, innovative payments services to merchants across Europe.”
He added, “At the end of 2020 Tink committed to expanding its payment initiation services from five to 10 markets, fuelled by an €85mn investment round. We are proud to add Germany to this list by announcing we have now fully launched Tink’s PIS services in this market.”
Image credit: Novalnet AG