Foodservice Solutions® interns have used Venmo to pay restaurant bills, bar bills, rent, and utilities bills in the past. Venmo is a platform that invites sharing eases the path to payment and edifies relationships between friends.
When the team at Foodservice Solutions® read that Grubhub was going to up the enter a venture with Venmo to drive awareness with its cashless payment options for time-pressed diners, especially Millennials our team wondered aloud ‘wow what a perfect fit.’
Grubhub a leading online and mobile ordering platform thousands of restaurants has partnered with Venmo, a peer-to-peer payment app favored by younger diners. The integration allows restaurant customers to pay bills or split a virtual check using PayPal’s Venmo.
Sam Hall, chief product officer for Grubhub stated “Adding the ‘split the bill’ feature provides an additional level of convenience our diners have come to expect from us. This is a big deal because Grubhub has a portfolio of other apps, such as Eat24 and Seamless, work with more than 80,000 restaurants in 1,600 U.S. cities and London. Diners ordering from restaurants such as Burger King, Rubio’s Coastal Grill, Wienerschnitzel, Subway, Krispy Kreme and Buffalo Wild Wings can now pay using their Venmo account.
Grubhub said more than 60 percent of the company’s orders are placed on mobile devices, so the partnership with Venmo makes sense. The app also allows users to send a payment to other Venmo users via iMessage on iPhones with iOS 10 or later.
Now think about this for the fourth quarter ended Dec. 31, 2017, Venmo processed $10.4 billion in payments, an increase of 86 percent year over year. Peer-to-peer payment users are projected to grow to 126 million by 2020, from 53 million in 2014, according to Statista. Grubhub and Venmo can complement consumer’s choice of payment options at your retail foodservice operation.
So just what is your New Electricity? Success does leave clues www.FoodserviceSolutions.us is the global leader in grocerant niche business development. We can help you identify, quantify and qualify additional food retail segment opportunities. Has your company had a Grocerant ScoreCard completed a Grocerant Program Assessment, or new Grocerant niche product Ideation? Want one? Call 253-759-7869 Email: Steve@FoodserviceSolutions.us