“Eat now pay later” app a world first
Australian-founded company Payo is shaking up the hospitality scene with its world-first, dining-focused “eat now pay later” app. After its successful introduction into Brisbane in March this year, Payo is now also available in both Melbourne and Sydney.
The app applies increasingly popular buy now pay later (BNPL) technology to the hospitality industry. It gives diners the ability to split the bill into four equal, interest-free payments. By encouraging consumers to dine out, Payo can help pave a much-needed path to recovery for the hospitality industry. These guys have been significantly impacted by COVID-19 and its subsequent lockdowns. The launch of the app and its QR code payment functionality marks a milestone. It’s the first of its kind to be specific to hospitality.
Part of the solution
Payo has been met with a warm welcome from restaurateurs. Over the past three months, the top 20 performing Payo partners in Brisbane have received thousands of transactions. The average order value from Payo customers has also increased by 50 percent.
“The industry has been through a rough time with restaurant closures,” says Payo co-founder and CEO, Taf Chiwanza. “Simultaneously, there’s been a drop in discretionary spending. By unlocking the BNPL offering within the restaurant space, we hope Payo can be a part of the solution by driving increased traffic into restaurants.”
The app’s functionality also allows diners to discover places to eat filtered by location, cuisine, special offers and more. Customers can also call restaurants directly to make a booking via the app, as well as tracking their spending.
Take your pick
With a line-up of more than 500 restaurants, cafes and bars already partnering with Payo, diners can search, book and pay at the likes of Sydney’s Butter, Tokki and Khoi, as well as Melbourne’s Morris Jones, Asian Beer Cafe and Bomba Bar. Users will also be rewarded for dining at selected partnering restaurants with exclusive, limited-time offers.
Many restaurants have already seen the benefits of partnering with Payo. These include Brisbane seafood restaurant St. James Crabhouse.
“The set-up was fast and easy,” says owner Mariyam Tajudeen. “Operationally, it lives with everything else we use. Our average order value for Payo users is 60 percent higher.”
While Sydneysiders aren’t able to dine out due to the current lockdown, Payo will be ready and waiting for them when it’s safe to do so. Payo is available to download for iOS and Android users. For more about how you can eat now and pay later, go to payo.com.au