Mobile Payment Capabilities Enable Greater Customer Engagement within the Hospitality Industry
BOSTON, MA (April 15, 2014) -- Payment technologies innovator Merchant Warehouse® today announced its partnership with hospitality mobile payments leader TabbedOut. The partnership will serve to co-market each company’s payment solutions, making mobile payments, digital marketing and loyalty programs a reality for thousands of businesses nationwide.
This partnership is timed with the launch of TabbedOut’s Periscope dashboard, a merchant marketing solution that allows restaurant and bar owners and general managers to understand who their consumers are, how much they spend, what they like to eat and drink, and whether they had a positive or negative experience. With that knowledge, the venue owner or general manager can send tailored, contextual offers straight to the patron to either reward their most loyal customers, bring back long-lost customers, or re-engage customers that had a poor experience.
The convergence of payments and marketing gives business owners and managers new opportunities to drive sales, especially through loyalty. On average, 12 to 15 percent of the most loyal customers generate 55 to 70 percent of sales, and studies show that 91 percent of adults keep their phone by their side 24/7, meaning the opportunity to send targeted, meaningful offers and reminders directly to customers’ smartphones can be the cornerstone of a powerful loyalty program.
“Periscope takes the guesswork out of merchant marketing and growing their business,” said TabbedOut Chief Revenue Officer George Zirkel. “No longer do merchants have to throw a bunch of marketing cash against the wall to see what sticks. The Periscope platform allows merchants to see the precise return on their marketing dollars. This partnership with Merchant Warehouse and their vast merchant network gives us the game-changing reach we need to show restaurants and bars they need this tool.”
The partnership between Merchant Warehouse and TabbedOut provides seamless integration and distribution of TabbedOut across a wide population of venues in the hospitality industry. This allows patrons to pay with mobile apps, which in turn provides merchants with valuable data that can be used to execute precise and cost-effective marketing through Periscope. For restaurant and bar staff, it results in 23 percent higher tips and frees up their time to serve more tables and fewer checks.
“The hospitality industry is built on loyalty, amazing customer experiences and great products, and leveraging new technologies to build these experiences provides Merchant Warehouse a key business advantage,” said Henry Helgeson, CEO of Merchant Warehouse. “New payment technologies in particular are changing the way businesses can connect and engage with customers, giving businesses the opportunity to collect insights for better and more strategic decisions to drive consumer loyalty and engagement. Partnering with TabbedOut helps Merchant Warehouse bring these capabilities to the hospitality industry, helping to turn customer transactions into interactions.”
Our mission is to make the food and beverage experience easier for customers and smarter for businesses. TabbedOut is a venture-backed company with an innovative approach to customer loyalty via mobile payments. Our mobile app is fully integrated with POS systems, enabling customers to pay bills, split checks, and redeem incentives directly from their phones. Our proprietary CRM tool, Periscope, allows merchants to gather valuable data about their customers, learn about their business, and communicate directly with guests.
About Merchant Warehouse
Merchant Warehouse is a leading provider of payment technologies and merchant services. The company's solutions enable merchants to more effectively connect and engage with their customers regardless of how, where or when they choose to shop. Merchant Warehouse's flagship technology solution, the Genius™ Customer Engagement Platform™, supports both traditional and new payment types, including mobile commerce, from a single countertop acceptance device.
Merchant Warehouse offers innovative payment solutions that help online and brick-and-mortar retailers, as well as point-of-sale (POS) developers, value-added resellers (VARs) and agents, strategically grow their business. Merchant Warehouse is one of the fastest growing payment technology companies in North America. For more information on Merchant Warehouse, visit merchantwarehouse.com.