Care to see the dessert menu? Diners are being given more choices not only in the menu selection but also in how they pay their restaurant tab. Dining market tech company, Reserve, has purchased Dash, a payments application firm focused on the restaurant market.
Reserve has announced its latest acquisition — Dash — which brings with it the technology for direct integration with Point-of-Sale (POS) systems. This marks the fifth acquisition by the OpenTable rival. Financial terms of the deal were not disclosed.
This news comes on the heels of Reserve’s announcement that it has received a strategic investment from Diageo, the beverage company behind Johnnie Walker, Crown Royal, Guinness, and other beverages and spirits.
Since 2013, Dash has specialized in payment processing, largely through its mobile app. Users were able to split or pay the bill and receive an itemized receipt from more than 250 bars and restaurants throughout the U.S. As a result of the acquisition, Dash founder Jeff McGregor and the product and engineering teams will transfer over to Reserve. The Dash app itself will be discontinued, and the technology will eventually be integrated into Reserve.
This means Reserve will have an opportunity to integrate with the likes of Aloha, Micros, and other popular POS systems. A company spokesperson told VentureBeat: “As Reserve pushes more deeply into the payment space, POS integration will be an important way to help restaurants understand their diners and provide exceptional hospitality to Reserve guests. It would also give Reserve the ability to improve the diner experience by providing a more detailed digital receipt after the meal.”
The POS integration is an important step, since it facilitates better communication between the consumer and the restaurant, starting from the moment you sit down at a table. What’s more, Reserve receives ownership of Dash’s sole utility patent and three pending patents.
Payment companies have typically found the restaurant vertical to be a target-rich environment for POS systems and integrated solutions. Pay-at-the-table applications are becoming increasingly popular not only with diners, but with restaurant staff as well. Think convenience, productivity, and enhanced card security. Wait staff spend less time jockeying the check folio from terminal to table, and diners do not have to hand their credit card to strangers. Expect more restaurants to realize that their customers find this a very appetizing addition to the menu.
Overview by Raymond Pucci, Associate Director, Research Services at Mercator Advisory Group
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