Adyen, the globally preferred financial platform for leading companies, is excited to announce the successful debut and integration of Adyen for Platforms with TabSquare, a Delivery Hero entity, enhancing the customer experience across Quick Service Restaurants (QSR) in Singapore.
This marks the introduction of Adyen for Platforms to the market, providing an end-to-end payments solution tailored for marketplaces, on-demand services, crowdfunding platforms, and various platform business models.
Adyen for Platforms simplifies and accelerates payment experiences for users of platform businesses, reducing manual processes and enhancing operational efficiency. Renowned international brands like Shopify, Lightspeed, and ROLLER have already harnessed the power of Adyen for Platforms to streamline their operations.
In line with this momentum, Adyen proudly welcomes TabSquare, an AI-powered technology solution provider for the F&B industry, to Adyen for Platforms in Singapore. TabSquare, through its innovative solutions, empowers restaurants to efficiently manage orders, process payments, and engage with customers.
Leveraging Adyen for Platforms, TabSquare introduces SmartPay, an end-to-end payments solution that offers an integrated, cross-channel view of end customers. This partnership enables TabSquare to unlock operational efficiencies and boost revenue for its users, including establishments like Nasi Lemak Ayam Taliwang.
Anshul Gupta, co-founder of TabSquare, emphasized the significance of Adyen in their journey, stating, “Adyen is a key ally in our journey to enhance and transform our digital payment services for F&B merchants.
There are many payment solutions in the market, but most of them do not meet the unique requirements of the F&B segment. For our SmartPay solution, we have leveraged the capabilities of the Adyen platform and built our payment solution on top of it to address the requirements of the F&B segment.”
SmartPay, seamlessly integrated into the restaurant’s TabSquare environment, offers a smooth and seamless ordering and payment flow. Restaurants can now provide guests with expanded payment options, all processed in under 18 seconds, leading to quicker table turnovers and potentially up to a 20% increase in revenue.
The integration of Point of Sale (POS) systems automates processes that were previously manual for TabSquare QSRs, enhancing accuracy and efficiency. This not only streamlines operations but also creates a positive ripple effect in the reconciliation of finance reports on the backend.
Moreover, diners paying via SmartPay@Table (QR code-based payment solution) take an average of 18 seconds to settle their bill, compared to 18 minutes with conventional payment methods. This faster turnover of tables allows restaurants to generate up to 20% more revenue, a crucial advantage, especially during peak hours.
F&B establishments can also leverage Adyen’s Tap to Pay on Android, a device-agnostic solution turning any compatible Android device into a payments terminal. This flexibility allows QSRs to scale as needed, ensuring efficient operations during peak hours when table turnover is crucial for sales.
With the partnership, TabSquare users can now offer a wide variety of popular payment methods to diners, enhancing the convenience and seamlessness of the dining experience. This allows TabSquare’s merchants to work with a single partner for expansion across multiple markets.
Noorman Mubarak, Founder of Nasi Lemak Ayam Taliwang, attests to the benefits of SmartPay, stating, “SmartPay allows us to streamline our order processing and payments – making it quicker for us to turn over tables to welcome our next diners.
Furthermore, the variety of payment methods we now offer makes it easy for our patrons to pay, especially for tourists who come from afar to try our Michelin Guide nasi lemak.”
Priyanka Gargav, Country Manager, Singapore, and Head of Commercial, Southeast Asia and Hong Kong, Adyen, expressed Adyen’s commitment to being TabSquare’s preferred payment partner on their transformative journey.
“TabSquare is paving the way for digital innovation in the F&B industry, and we are honored to be the preferred payment partner on their transformation journey. Our in-person payments solutions introduce simplicity to customer experiences, in an industry where speed and flexibility are key.”
Adyen for Platforms, offering an agile solution, enables platforms to integrate financial products seamlessly without added operational complexity or resource constraints. With this launch in Singapore, platforms can now leverage Adyen’s solutions to grow more quickly, manage risk, track results, and gather rich customer insights for their merchants.
This partnership not only offers TabSquare’s QSR users a subscription to payments innovation but also allows their businesses to scale and grow sustainably. Adyen for Platforms is an invitation to platforms to embrace financial innovation and elevate their offerings to meet the ever-evolving needs of their users.
