Olo Transforms Restaurant Checkout Experience with Borderless Functionality
October 25 2022 - 4:00PM
Business Wire
Feature provides frictionless checkout
experience across restaurants; Details and additional products to
be launched at virtual Fall Release Event
Olo Inc. (NYSE:OLO), a leading open SaaS platform for
restaurants that enables hospitality at every guest touchpoint,
today announced the commercial availability of Borderless
functionality for Olo Pay customers, an offering designed to speed
and streamline payment across Olo’s network of 600 brands,
transforming the checkout experience for guests and unlocking
increased revenue potential for restaurants. This update joins
several additional product features that will debut during Olo’s
upcoming Fall Release Event on Oct. 27, to help Olo’s restaurant
customers deliver unmatched hospitality through enhanced ordering,
delivery, and guest engagement.
Olo Pay is a purpose-built payment solution empowering
restaurant brands to drive sales, reduce fraud, and simplify the
payment process through advanced mobile wallet support. Now with
Borderless capabilities, guests can save and access their on-file
payment information, along with contact information, and delivery
addresses, across all participating restaurant brands that have
opted in, securely speeding through checkout.
By eliminating the need for guests to create an account,
remember a password, or manually enter credit card information at
every purchase, Borderless helps restaurants meaningfully increase
basket conversion, retention, and visit frequency. It also enables
brands to capture data on more orders that were previously
anonymous, adding new guests and order data to their guest data
platform.
Brands participating in the Borderless pilot have already seen
tremendous results. Over the past quarter, 76% of guests have saved
their credit card information for future purchases, nearly 2.5
times the number of guests saving their payment in traditional
checkout, demonstrating strong guest preference for borderless
accounts. For brands participating in the pilot, including Din Tai
Fung, Mom’s Touch, and Buds Chicken and Seafood, Borderless has
driven a measurable rise in basket conversion, translating to
increased revenue and access to more guest data for a superior
guest experience.
“As digital becomes a critical component of the guest journey,
the industry is long overdue for a frictionless login and payment
solution,” said Noah Glass, Founder and CEO at Olo. “With
Borderless, we’ve created a frictionless checkout experience built
to seamlessly integrate with the security, convenience, and speed
of Olo Pay, enabling brands to jointly reach 85 million connected
guests across the Olo platform. Empowering brands to reach their
order potential while delivering superior hospitality via
convenience to guests, we believe Borderless is the next step to
improving the on-demand commerce experience.”
Additionally, during Olo’s upcoming Fall Release Event, Olo will
be debuting additional product optimizations enhancing both
ordering and guest engagement, including:
- Multiconcept Ordering: Enabling single checkout across multiple
brands in a portfolio, driving virtual concept discovery, and
streamlining menu management
- Push Notifications: Attracting repeat orders and growing guest
lifetime value through effective mobile communication
- Bulk 86’ing: Increasing in-store operational efficiency and
menu accuracy to ease inventory management and keep guests
happy
Borderless functionality for Olo Pay customers plus several new
features will be showcased at Olo’s release event on Oct. 27, 2022
at 1 PM ET, along with additional innovations launched this quarter
to further Olo’s mission of enabling hospitality at scale. To
register for the virtual event, visit:
https://event.on24.com/wcc/r/3935018/BB5A8EB2D6DCE97378E675F000981F4B
About Olo
Olo is a leading open SaaS platform for restaurants that enables
hospitality at every guest touchpoint. Millions of orders per day
run on Olo’s on-demand commerce engine, providing restaurants a
single source to understand and serve every guest from every
channel, whether direct or third-party. With integrations to over
300 technology partners, Olo customers can build personalized guest
experiences in and outside of their four walls, utilizing one of
the largest and most flexible restaurant tech ecosystems on the
market. Over 600 restaurant brands trust Olo to grow their digital
ordering and delivery programs, increase operational efficiency,
and make every guest feel like a regular. Learn more at
olo.com.
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Media Contact for Olo: olo@icrinc.com
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