Appetize is introducing new technology to streamline payments for sports stadiums, entertainment venues, hospitality businesses and restaurants, the company announced in a Monday (May 17) press release.
The new solution, Appetize Payments, aims to make processing payments easier for businesses while also giving consumers a better experience. The company said it launched the tool to help larger venues and brands streamline their tech stack and eliminate the need for third-party vendors.
The new all-in-one solution combines payment processing services and Appetize’s cloud software. The new tool works with Appetize’s full suite of omnichannel solutions, including point of sale devices, self-service kiosks and handhelds.
“Adopting Appetize Payments allowed us to have an all-in-one solution that conveniently streamlines our payments and software,” says Eric Sanchez, controller at fast-casual restaurant chain Hale & Hearty.
He added that the platform also saves the company money “on every transaction processed” by cutting out the middleman.
More than half of Appetize’s partners have signed up for Appetize Payments since its launch, including FC Cincinnati, Allen Eagle Stadium and Hillsboro Hops.
Appetize was launched in 2011 in Los Angeles, and facilitates contactless and mobile payments as well as menu management for food, beverage, and retail transactions. The company works with high-volume businesses such as entertainment arenas, sports stadiums, theme parks, education campuses, and more.
The restaurant and hospitality industry was impacted by the worldwide pandemic and the resulting lockdowns and travel restrictions. Restaurant profits plummeted between April and August of 2020 and its pivot to takeout and delivery didn’t make up for the lack of foot traffic.
A November 2020 study of U.S. diners in the midst of the pandemic indicated that 44 percent of respondents cited convenience as the number one reason for mobile food orders, followed by ease of use. About 45 percent of respondents said they would prefer to view menus, place orders and process payments via phone rather than by interacting with a server. Some 40 percent plan on continuing with this practice post-pandemic.