A new partnership aims to bring restaurants around the world into the digital payment space.
Lavu is a major global restaurant software and payments solution provider built by those with experience in the restaurant industry. They have recently partnered with Verifone, a global FinTech leader and payment solution provider to the world’s best-known brands. The two companies announced a new cross-distribution strategy which will seamlessly integrate Lavu’s all-in-one restaurant software suite with Verifone’s FLEX payment solution.
In addition to card, cardless, peer-to-peer, and mobile payment features, the companies will also be providing infrastructure to accept cryptocurrency.
Their press release states: “With access to Verifone’s Advanced Payment Methods platform, millions of restaurants will more easily meet rapidly evolving consumer behavior, most notably the accelerated shift to digital and split payments … Whether splitting a bill with a large party, paying using cryptocurrencies or spreading payments over time, the Verifone user experience is simple: customers select their desired advanced payment method on the Verifone terminal and use their mobile device to complete the transaction.”
For those who have been in the space for awhile, the idea of paying for coffee or pizza with Bitcoin or cryptocurrency has been a long-held goal. International markets are now inching closer toward that reality. With more businesses developing infrastructure similar to what Lavu and Verifone have, the option to pay with cryptocurrency is becoming more and more available alongside traditional payment methods.
For Lavu CEO, Saleem S. Khatri, these developments represent a needed upgrade in a market where change has been stifled due to either resistance or skepticism for Bitcoin and cryptocurrencies.
“Especially over the past two years, consumers have acclimated to contactless, cardless and flexible payment methods,” he said, referring to the pandemic. “We’re excited to call Verifone our ally in ensuring that restaurateurs meet these customer needs amidst inflationary pressures and staffing shortages.”