Two point-of-sale system providers are taking action to help ailing restaurants as they contend with the repercussions of measures to stem the Covid-19 infection. First, TouchBistro Inc., a provider of payments technology for restaurants, launched its Restaurant Recovery Navigator, a collection of products and services aimed at helping dining establishments struggling with the impact of stay-at-home policies during the Covid-19 pandemic. The company also launched a gift card program and said it planned to offer a proprietary online-ordering service by mid-month, which it said will be free to clients for the first 12 months.Read more >
TouchBistro launched its all-new Restaurant Recovery Navigator, a go-to source for information, insights, products, and one-on-one support to help restaurateurs navigate their business through the COVID-19 pandemic and prepare a path forward for the future. TouchBistro also launched its dedicated gift card offering, a new solution designed to help restaurateurs improve their immediate cash flow during the pandemic; and announced its plans for a proprietary online ordering product, which is set to release by mid-April and will be free for TouchBistro customers for the first 12 months.https://hospitalitytech.com/touchbistro-launches-restaurant-recovery-navigatorRead more >
At the Canoe & Paddle, a 120-seat English-style pub in Lakefield, Ont., daily sales have dropped 90 per cent because of the COVID-19 pandemic. The family-run operation has laid off 18 of its 26 staff. To try to keep some business coming in, it’s started delivering alcohol and produce, and is launching a frozen-meal service. The pub’s struggles are typical of those the hospitality sector has faced as social-distancing measures force them to close, which could affect the companies that provide point-of-sale technology. The Canoe & Paddle is one of the more than 25,000 clients of Toronto-based TouchBistro. In response to its customers’ struggles, the firm has hurried the development of a full online ordering system, launching today, for clients who can’t seat diners anymore. It’s also frozen hiring and reduced spending in a bid to weather the storm. “Do I think everybody in the [restaurant POS] space will survive? Absolutely not,” said CEO Alex Barrotti.Read more >
TouchBistro CEO Alex Barrotti talks about our origin story and how Google Ads have helped with expanding into new markets worldwide. "To help restaurant owners find the app when they’re looking for a payment solution or POS, TouchBistro uses Google Ads. Since using this tool, the number of people searching specifically for TouchBistro has increased by 95% each month in the UK and 47% in Mexico."Read more >
Pension giant Ontario Municipal Employees Retirement System has made its largest investment in a Canadian early-stage technology company, anchoring a $158-million venture financing by Toronto restaurant-software firm TouchBistro Inc. OMERS, which co-led with JP Morgan Chase a $72-million financing by TouchBistro in 2018, is doubling down by investing $100-million in a deal that is also backed by Barclays, BMO Capital and RBC Ventures. It is believed the financing values the company at about $500-million before the cash infusion. It is one of the largest financings of a tech startup in Canada this year and positions TouchBistro, which is expected to generate close to $50-million in revenue this year, for an initial public offering by early 2021, said co-founder and chief executive officer Alex Barrotti. “I’d like to be the next Shopify,” he said, referring to the Ottawa retail-software giant that is now worth more than eBay or Twitter.Read more >
TouchBistro is named The 10 Most Innovative Solution Providers in Food & Beverages 2019 by Insight Success. Read the Q&A with our CEO and founder, Alex Barrotti.Read more >
Barclaycard, the U.K.-based credit card unit of Barclays Bank Plc, said it entered a partnership with TouchBistro to streamline payments processing in restaurants and pubs. Barclaycard is not integrated with TouchBistro, which offers iPad-based point-of-sale technology for restaurants and bars around the world. The partnership will be more efficient and reduce errors during order taking and payment at U.K. restaurants, bars and pubs, particularly when customers split a bill, according to the companies. "We know that getting customer experience right is vital for a restaurant to build loyalty among its clientele," Nicole Olbe, managing director of partnerships at Barclaycard Payment Solutions, said in a company release. "Our new agreement with TouchBistro will help hospitality outlets streamline their processes, thereby driving revenue and allow waitstaff to spend more time with their customers." TouchBistro operates in more than 16,000 restaurants in 100 countries. Barclaycard said it processes about half the debit and credit card transactions in the U.K. and processed $327 billion in transactions worldwide in 2018.Read more >
Barclaycard, which processes nearly half of the UK’s credit and debit card transactions, announced today that it has teamed up with TouchBistro, a global iPad-based POS solution for restaurants and pubs. Through the partnership, Barclaycard’s payment solution is now integrated with TouchBistro, unlocking improved speed and accuracy of the bill-paying process for both restaurants and diners.
Wait staff use TouchBistro to enter table-side or over-the-counter orders and send them directly to the bar or kitchen for preparation, while food pictures and allergen information are all available at the server’s fingertips.
TouchBistro has also partnered with JP Morgan in the USA and EVO Payments in Mexico, teaming up with some of the strongest financial institutions around the world to provide restaurants with integrated payments. This conversion from the ISO to ISV business model in payments is an essential element of the technology renaissance the global restaurant industry is undergoing, and TouchBistro is at the forefront of the evolution.
Barclaycard and TouchBistro have teamed up for point-of-sale (POS) solutions meant to improve customers’ experience in U.K. restaurants, according to a release. TouchBistro makes iPad-based POS systems that handle restaurant orders as well as payments and administrative tasks like staffing. The new partnership integrates Barclaycard into the system and automates things like splitting the bill and calculating gratuity. “We know that getting [the] customer experience right is vital for a restaurant to build loyalty among its clientele,” said Nicole Olbe, managing director of partnerships at Barclaycard Payment Solutions. “Our new agreement with TouchBistro will help hospitality outlets streamline their processes, thereby driving revenue and allowing wait staff to spend more time with their customers. In turn, this allows diners to benefit from an improved customer experience.” Research from Barclaycard shows that half of consumers who eat out at restaurants prefer the bill to be split for them. “TouchBistro is committed to helping restaurants and pubs increase efficiency and improve the customer experience with advanced technology designed specifically for the unique workflows of the busy food service and beverage industry,” said Alex Barrotti, CEO and founder of TouchBistro. “Barclaycard shares this commitment. Our new partnership will offer U.K. restaurants and pubs a modern solution that helps streamline processes to enhance customer engagement and grow revenues.”Read more >
“We have an overall payments attach rate around 60%,” said John Florinis, TouchBistro’s VP of Payments. “This comes as we cross-sell payments into existing customers and onboard new merchants on our payments. Currently new merchants are attaching to our payments in the low 70 percent.” And if that’s not enough, TouchBistro is ending July with an 81% payments attach rate. Even though TouchBistro offers open payments, meaning a merchant can choose whatever processing option they want, TouchBistro is finding that more than 70% of their new merchants opt for their payments processing solutions.Read more >