Olo, a leading technology provider for the restaurant industry, has announced a strategic partnership with FreedomPay to enhance in-restaurant payment solutions across the United States. This collaboration aims to streamline payment processing, enabling restaurants to better manage both digital and in-person transactions, ultimately improving customer experiences.
Key Takeaways
- Integration with FreedomPay: Olo will leverage FreedomPay’s payment gateway, which is compatible with over 1,000 point-of-sale (POS) systems, to expedite card-present transaction processing.
- Omnichannel Payment Solutions: The partnership will enhance Olo Pay, allowing for a seamless integration of digital and in-store payment experiences.
- Data-Driven Insights: By combining transaction data from both digital and in-person sales, restaurants can create comprehensive guest profiles for personalized marketing and improved decision-making.
Partnership Overview
The partnership between Olo and FreedomPay is set to transform the way restaurants handle payments. Olo Pay, which was initially launched in collaboration with Stripe in 2022, will now be upgraded to support in-person transaction processing through FreedomPay’s advanced commerce platform. This integration will allow Olo to process a significant portion of the 82% of restaurant transactions that occur in-person, which has been a critical area for growth.
Benefits of the Integration
- Faster Transaction Processing: By utilizing FreedomPay’s payment gateway, Olo will enhance the speed and efficiency of card-present transactions, benefiting over 700 restaurant clients.
- Unified Guest Data: The integration will enable restaurants to consolidate digital and in-store transaction data, providing a 360-degree view of customer interactions.
- Enhanced Customer Experience: With improved data insights, restaurants can tailor their marketing efforts and enhance customer engagement, making every guest feel valued.
Future Implications
This partnership not only strengthens Olo’s existing capabilities but also positions the company as a comprehensive solution provider in the restaurant technology space. By capturing both digital and in-person transactions, Olo aims to significantly increase its market share and improve operational efficiencies for its clients.
Conclusion
The collaboration between Olo and FreedomPay marks a significant step forward in the evolution of restaurant payment solutions. As the industry continues to embrace digital transformation, this partnership is poised to deliver enhanced payment experiences, streamline operations, and ultimately drive customer satisfaction in the restaurant sector.
Sources
- Olo teams up with FreedomPay for in-restaurant payments – ThePaypers, The Paypers.
- Olo takes a big step toward digitizing more on-premise transactions, Restaurant Business Magazine.
- Olo partners FreedomPay for in-store payments in restaurants, Verdict Food Service.
- Olo Partners with FreedomPay to Transform Restaurant Payment Processing, Stock Titan.
- Olo, FreedomPay improving restaurant payment experiences | Fast Casual, FastCasual.com.