Online ordering company Lunchbox debuted a new feature that gives restaurants more flexibility in controlling their payment processes.
Open Payments acts as a gateway that lets operators use their POS systems or other payment processors of choice for all digital orders. While most restaurants use different processors for in-store and online orders, the system enables operators to consolidate them in one place, producing economies of scale and operational benefits.
This pertains to all processing revenue through any native channel, whether that’s coming through a restaurant’s website, app, kiosks, or curbside features through third-party integrated partners and more.
“It not only allows ourselves as a company to provide that integration into the processor but also any company that you may be using adjacent in food tech as well,” said Lunchbox co-founder Hadi Rashid. “The gateway can be used by all.”
Hadi Rashid, Lunchbox co-founder
Combining revenue streams means operators could negotiate a lower rate for their processing since their overall volume is larger, Hadid said. Other benefits include issuing refunds directly from the POS, the ability to look at reporting in one central location and streamlining operational tasks.
Hadid gives the example of ordering something online and then adding a Coke upon arrival at the store. A customer would be able to close out the check while automatically being rung up with the $3 dollar drink since online and in-store payments are connected.
Through Lunchbox, operators can tap into integrations with the following POS systems: NCR Aloha, Brink POS, Revel, Simphony and NorthStar. As well as other integrations with major processors like WorldPay, FirstData, Heartland, TSYS and Authorize.Net.
The new feature is Lunchbox’s latest move in going head-to-head with competitor Olo, which unveiled its payment product, Olo Pay last year.
“With Olo Pay, your economy lives in two different places, which means your negotiating with two different people separately, but you can never combine them in the same place. As a restaurant operating on razor-thin margins, you are more than likely to consolidate the volume wherever you can,” said Hadid.
Lunchbox had also previously launched Lunchbox Rails, an order integration tool similar to Olo’s product, “Olo Rails”. The tech company also has its eyes set on gaining market share over Olo by integrating with larger restaurant chains.
Lunchbox currently works with over 5,000 restaurants in the U.S., including Bareburger, Clean Juice, Fuku and more.
