Company backed by a16z, QED and Union Square Ventures,
introduces Blackbird Pay, giving restaurants their very own,
much-needed payments network for the first time, while finally
upgrading the consumer payments experience
NEW YORK, July 30, 2024 /PRNewswire/ -- Blackbird
Labs, the hospitality-tech company founded by Resy and Eater
co-founder Ben Leventhal, today
announced the launch of Blackbird Pay, an all new payments product
designed to improve economics for restaurants, while providing
guests with a transformative dining experience.
Powered by Blackbird's new blockchain, the Blackbird Flynet,
Blackbird Pay gives restaurants a fresh way to address the ever
growing problem of shrinking margins and eroding cash reserves by
providing them with their very own end-to-end payments and check
settlement network for the first time. Restaurants on the Blackbird
Pay network pay on average 2% per transaction, a huge cost savings
as compared to the fees typical in legacy processing fee
structures. At the same time, Blackbird Pay enhances diners' end of
meal experience, leveraging the Blackbird platform to allow for
automatic settlement, and the hospitality magic of not having to
wait for the check. In addition, Blackbird Pay gives diners the
added benefit of being able to pay in $FLY, Blackbird's native
rewards points.
"In the last decade, we've seen great advances in restaurant
technology, but we have made virtually no progress with payments,
which tend to be expensive, cumbersome, and technologically opaque
for most restaurants," said Ben
Leventhal, Founder and CEO of Blackbird. "Blackbird Pay
changes all of that and we're excited to partner with the
restaurant industry to forge a new path forward."
When a diner checks-in at a Blackbird (member) restaurant, they
simply tap on a proprietary Blackbird puck, with an NFC chip at the
host stand, or register when they arrive and a check opens within
the Blackbird app. Diners can then indicate if they want to split
the bill with their tablemates, pay for their meal with their
accumulated Blackbird $FLY points, use their credit or debit card
within the app to pay, or choose to use a combination of $FLY and a
card. They can also tip with it, too. If a diner doesn't have
enough $FLY points to cover their meal, they are able to purchase
points in-app using traditional payment methods or USDC.
At the same time the customer opens the check, the restaurant is
notified that the diner is a Blackbird guest. The customer's dining
profile includes a proprietary Guest Value Score, as well as key
information, such as their dining history with the restaurant and
VIP status. This empowers restaurants to offer perks,
benefits, points, access and other fine-tuned hospitality to entice
and reward their guests.
"Blackbird Pay has the power to revolutionize the entire
restaurant business," said Roni
Mazumdar, co-owner of Unapologetic Foods. "Being able to
save thousands of dollars a month in processing fees alone is
incredible, but being able to now have one place where we can
strengthen ongoing relationships with our customers, is a total
game changer in this challenging environment."
Alongside Blackbird Pay, Blackbird has also shipped new
messaging and discovery functionality, signaling the company's
vision for a future of frictionless, fun, and mutually beneficial
connectivity between guests and restaurants. This past spring,
Gjelina New York turned to Blackbird to sell house accounts,
raising close to $500,000 to open a
new location, and Sra. Martinez, a new restaurant by James Beard Award-winning chef Michelle Bernstein, recently created a founding
members program for the opening of her new restaurant in
Miami, where members are able to
gain access to tables one week ahead of reservations opening,
receive free cocktails and amuse bouche while dining, and directly
message the restaurant in-app with questions, needs or with any
special and unique requests.
With popular programs like Blackbird Breakfast Club and Bar
Blackbird helping to drive traffic to restaurants during slower
periods of time when venues need support in bringing in new
customers, Blackbird's approach to diner loyalty is actively
addressing today's restaurant industry pain points.
Current restaurants on Blackbird include: Anton's, Bangkok
Supper Club, Barbuto, Crown Shy, Ensenada, Ernesto's, K'Far, Laser
Wolf, L'Appartement 4F, Margot, Momofuku, Moody Tongue Sushi,
Nami Nori, Nom Wah, PDT, Parcelle
Wine Bar, Raf's, Razza, Romeo's, Saga, Semma, Sunday in
Brooklyn, Temple Bar, and Upside
Pizza in NY; Leon's, Renzo, Kwei
Fei, and Rancho Lewis in Charleston; Sato Omakase, Osito, SPQR, and
Birdsong in San Francisco, with
new establishments joining daily.
For more information about Blackbird Pay, please visit:
www.blackbird.xyz
About Blackbird Labs
Blackbird is a hospitality
technology company, focused on leveraging the power of direct
connectivity between restaurants and their guests. Blackbird offers
a loyalty and payments platform for restaurants and a consumer app
designed to make every guest feel like a regular no matter where
they dine.
Blackbird was founded in 2022 by Ben
Leventhal, co-founder of Eater and Resy, two companies that
have transformed the restaurant industry (Eater was acquired by Vox
in 2013; Resy by American Express in 2019). Blackbird's investors
and partners include a16z, Union Square Ventures, Amex Ventures,
Shine Capital, Variant Fund, Multicoin Capital, IAC, Vayner Fund,
Circle Ventures, Mischief, and Tribute Labs, plus leading
restaurant groups: Quality Branded, Rustic Canyon Family, Souvla
and Brooks Reitz.
The Blackbird app acts as a user's wallet where they can manage
their memberships, monitor their $FLY balance, Pay with Blackbird
and message restaurants in one place. The app is free and available
for download on iOS and Android.
Media Contact:
Vanessa Leitman
917-929-3304
381034@email4pr.com
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SOURCE Blackbird