TouchBistro Strikes up Deal with JPMorgan Chase, POS System Now Posed for “Dramatic Increase in Sales” 

TouchBistro Strikes up Deal with JPMorgan Chase, POS System Now Posed for “Dramatic Increase in Sales” 

The point-of-sale software provider TouchBistro has signed a deal with JPMorgan Chase & Co. 

The software will now offer instant payment processing and mobile payment devices powered by Chase to offer table side paying.

Chase will also be promoting the TouchBistro’s software to the four million restaurant operators and small business owners in the massive Chase network. 

"We'll have access to all their channels," said Alex Barrotti, TouchBistro founder and CEO. "We don't know how many could convert, but either way it will be impactful." 

Member of TouchBistro’s board and partner with BDC Capital’s IT Venture fund, Peter Misek said the deal "signals for TouchBistro a dramatic increase in sales, opportunity, impact and value-add for their clients."

Now, TouchBistro customers will be able to process payments instantly through the Chase WePay service, versus the current waiting time of a couple of weeks.

TouchBistro will be getting an increase in the usual cut the company gets from payment processors too. 

“Mr. Barrotti said his company currently gets a share of revenue from payments processors for each restaurant it signs up using their platform. Those payments, which account for 15 per cent to 18 per cent of TouchBistro's revenues, will increase to about 25 per cent with the Chase deal. The bulk of the company's revenue comes from monthly fees it charges for its app,” writes "The Globe and Mail."

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Yext is Driving Restaurant Discovery and Online Orders

Yext is Driving Restaurant Discovery and Online Orders

It’s no secret we live in a very competitive restaurant environment.

Not only do we have more cuisine options, but we have more brick-and-mortars that offer different atmospheres and experiences than ever before.

There’s also the increasing shift towards online ordering and food delivery by consumers with a fast-paced lifestyle who are looking for convenience and speed.

Needless to say, restaurant visits have been declining year over year and it’s more important than ever to capitalize on the few opportunities available to amp foot traffic to your restaurants.

So how can restaurants maximize visibility in such a saturated environment?

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AR Could Be the Next Frontier for the Restaurant Industry

AR Could Be the Next Frontier for the Restaurant Industry

These days it seems like every brand is dipping its toes into the world of Augmented Reality, or “AR” for short.

And, for good reason.

You are probably wondering why we are even talking about a technology that seems so disconnected with the restaurant and hospitality industry. Truth is the possibilities are endless when it comes to creating the illusion that virtual objects are part of our physical world as the technology slowly weaves itself into the thread that is our everyday lives.

Brands that recognize this and develop creative marketing campaigns around AR could really benefit when looking for a boost in exposure or even sales.

Most of us got our first taste of AR through Snapchat or Instagram’s face-scanning filters. Others experienced it through the Pokemon Go craze. Some restaurants were actually able to capitalize on the trend while it was hot, with some places seeing an 82 percent increase in weekly restaurant foot traffic and 63 percent increase in weekly sales if the business was located near a “Pokestop,” according to POS platform Revel systems.

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Danny Meyer-Backed Company Partners With Amazon for Online Ordering

Danny Meyer-Backed Company Partners With Amazon for Online Ordering

In an effort to offer more food options to its Prime members, the online retail giant Amazon partnered up with Olo, a leader in the digital-food-ordering space, to beef up Amazon Restaurants and facilitate the on-boarding process of new dining establishments onto the platform. This is following a major push by Amazon to penetrate the food and retail industry with its recent purchase of Whole Foods Market.

The deal will allow Amazon Restaurants to take care of the delivery aspect and Olo will remain handling the menu and ordering side of the transaction.

“We’re thrilled to work with Amazon to provide Olo’s base of restaurant customers with a new delivery sales channel that drives increased visibility,” said Noah Glass, Founder & CEO of Olo in a press release about the partnership. “Amazon’s obsession with providing great customer and restaurant experience supports the evolving expectations and behaviors of today’s consumer. We’re excited to connect more of Olo’s restaurant brands with Amazon Restaurants.”

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Square's Caviar Is Another Food Ordering Service Player in the Delivery Space

Have you ever tried Caviar? No. I don’t mean the pickled roe of sturgeon eaten as a delicacy.

Caviar is a food ordering service for popular restaurants that was acquired in August of 2014 by Square, Inc., the business tools company famous for its point-of-sale software.

What’s interesting about this platform is that it only features a hand-curated list of restaurant partners.

“We have teams with deep local knowledge that hand-curate our restaurant list focused on working with the best restaurants in every city across cuisine types and price points,” said Nick Adler, Caviar’s market operations lead. “Our close restaurant partnerships, in combination with our full logistics and marketing solution, enable Caviar to offer quick and reliable delivery and pickup, helping businesses to reach more customers, grow their sales, and expand their reach.”

Since the acquisition, Caviar’s weekly order volume has grown more than 11 times according to Adler, who’s been working for the company for over two and half years leading all locals teams that work with the couriers and restaurants on the ground in each market the platform serves. “Delivery and pickup are great ways for restaurants to grow sales beyond their tables, which is aligned with Square’s founding mission to ensure that a seller never misses a sale,” explains Adler referring to the reason why Square decided to get into the food delivery business.

To further Square’s mission, Caviar provides a variety of cross-channel, co-marketing services for restaurant partners, which includes in-app alerts and banners, email, and social mentions. In addition, professional photography of each restaurant and every dish available for delivery is provided by the San Francisco-based company. 

One of Caviar’s exclusive restaurant partners is Souvla, a greek-inspired fast casual concept that continues to expand in the Bay Area. The restaurant’s owner, Charles Bililies, told the San Francisco Chronicle, “In 2014, delivery was zero percent of the business...now, it’s about 24 percent of the business, which is pretty remarkable,” leading him to take into account orders from Caviar with each new location opening. This explains the need to food delivery services like Caviar, UberEATS and Postmates, to name a few.

Caviar has partnered with thousands of restaurants across the country, featuring high-profile chefs like Ivan Orkin of Ivan Ramen, Rick Bayless of XOCO and Red O, Ken Oringer of Coppa and Toro and recognized restaurant groups like Garces Group in Philadelphia and The Meatball Shop in New York. The platform operates in specific areas, in the following locations: California, District of Columbia, Illinois, Maryland, New York, Oregon, Pennsylvania, Texas and Washington State.

To learn more about Caviar, Foodable asked Nick Adler the following questions:

How does Caviar differentiate itself from its competitors?

Adler: Without referring to specific competitors, many of them don’t have a true partnership with restaurants and place phone orders without partnering with them. We are 100% focused on food. We don’t transport people, retail products, or other non-food items. Due to this focus on food, we’ve built unique competencies around food delivery - inclusive of presentation, packaging, operations and logistics - which allows us to deliver the best experience for diners, restaurants and couriers.

How do you ensure quality of the food when it’s being delivered through the Caviar courier service?

Adler: We only partner with couriers with thermal bags and the best equipment (like food separators, bikes with racks for pizza when applicable, etc.), work with our restaurant partners to use the best packaging for every type of food we deliver, and use smart algorithms to make sure the timing for each order is seamless and matches with the right courier. Our restaurant partnerships give us more data and information to learn from, and we’re always improving our algorithms with more inputs and variables that make them super accurate.

New life goal: Make sure #Fridays always taste this good 🍩

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Timing is a huge consideration when thinking of keeping food fresh and at the right temperature. The courier needs to arrive at the restaurant just as the restaurant finishes preparing the food, so it’s not waiting around on the counter, and the courier needs the right equipment and information to get the order to the diner fast.

What are all the services you provide to your restaurant partners?

Adler: We provide restaurants with an app to manage all their orders, pickup and delivery logistics such as matching couriers to deliver food, a range of marketing solutions, as well as consultation and expertise about their online menu and packaging. We also ship in-house [print] collateral to restaurants we work with to help educate their customers about all the ways they can order their favorite food. Some additional features include: pre-order for up to a week in advance, shared carts for large groups, and Caviar for Teams, a streamlined catering option. We do share high-level, anonymized data with our restaurants so they can better understand where their customers are ordering from, when they’re ordering, and what they’re ordering to make smarter business decisions.

How does the Caviar app for the back-of-house kitchen staff work?

Adler: Every restaurant can customize their app and experience for the kitchen staff to receive orders and to make sure that the process is optimized for their restaurant and operation. Each establishment has the option to integrate with kitchen printers directly so back-of-house staff can review orders as they come in, directly from the restaurant’s Caviar app.