payo’s pivot to Payment Methods
In the hospitality industry, many products offering new options for Payment Methods emerged out of COVID, including payo – who also saw a new opportunity for the industry. Payo is an Australian start-up that provides a full payments platform for the hospitality sector with self-checkout and Buy Now, Pay Later (BNPL) solutions to give consumers more freedom of choice and convenience. They also give restaurateurs increased transaction values, higher rates of tables turned and more returning customers.
Payo began as a BNPL product, taking a bite out of the more than 6 million active BNPL users in Australia. But they quickly began to diversify their service offering to bring more value to the hospitality industry through other payment innovations beyond the BNPL niche.
How payo supports innovative Payment Methods
Payo now offers a seamless self-checkout solution for paying at table in-venue – giving hospitality venues an ability to turn over tables faster and better cope with weekends and particularly busy shifts. It also puts payment processing in the hands of customers. With speed and convenience always appreciated when it comes to paying the bill, this is an aspect that is of increasing interest to customers.
One of payo checkout’s main benefits is that it allows customers to split the bill conveniently at their tables, however they like and without any additional fees for the venue – no more awkward conversations about who is paying the bill or how to split it. It also frees up staff to provide a smoother in-venue service-based experience while reducing the time spent on processing bills, which, according to payo spokesperson and CEO Taf Chiwanza, can take up to 30% of a worker’s shift. Payo checkout can also provide a tasty boost in revenue – to date, more than 70% of payo transactions have included tips, which translates to increasingly satisfied staff.
How Doshii is helping payo pave the way
Much like the team at Doshii, payo was started by a team of hospitality veterans who decided to turn the tables of hospitality-tech to continue working in the space they love in new and innovative ways. “Partnering with Doshii will enable payo to scale and partner with more hospitality venues Australia-wide,” says Chiwanza. “It will also ensure a more seamless payment experience for payo customers, eliminating long wait times for the bill and providing a better experience for both customers and staff.”
Partnering with Doshii will enable payo to scale and partner with more hospitality venues Australia-wide.” – Taf Chiwanza, CEO & Co-Founder of payo
Their soft launch in Brisbane in March of 2021 was so successful that they expanded to the larger markets of Melbourne, Sydney and the Gold Coast just seven months later. They now have close to 1,000 restaurants that offer payo checkout or BNPL on their platform and an eye on national expansion in the months and years to follow.
Chiwanza is quick to point out that payo’s integration with Doshii is playing a vital role in their business’ roll-out. “Working with Doshii allows payo to integrate with various hospitality apps and POS systems, allowing us to scale our business quicker and to create a frictionless experience through integrations.”
Where will payo and alternate Payment Methods head next?
When asked about his vision for payo, Chiwanza is a big-picture thinker. “We are driven to help restaurateurs deliver a better customer experience by streamlining the payment process and by making it more inclusive and flexible for eager diners. We also want to help people enjoy life’s special moments by giving them the choice to either pay now, pay later, pay at any moment during their meals, and to split the bill with ease if they chose to,” he says.
“Plus we also understand that people are looking for great food and service,” he adds. “Payo’s innovations will allow hospitality venues to focus on this, whilst taking care of the payment process for the customer.”
Chiwanza sees Doshii as an ongoing asset in payo’s long-term plans for industry-wide adoption. “Payo will continue to work closely with Doshii with a focus on improving the payment experience for customers and merchants in hospitality,” he says definitively.
The bottom line
There’s no doubt about it: if you want to survive in the fast-paced world of modern hospitality, you have to be flexible, adaptive and ready to pivot on a dime. Payo has proven themselves more than capable of meeting that challenge – with a little help from Doshii!
For more information on Payment Methods apps, visit our website to explore the category and get connected today.