Paying the bill will soon involve less friction for customers thanks to a new product from Olo, dubbed Borderless, that’s designed to speed and streamline payments across its network of 600 brands. The delivery integration provider claims the update will transform the checkout experience for guests, and unlock increased revenue and data capturing potential for restaurants.
Borderless payment is one of several new features debuting during the New York-based company’s virtual Fall Release Event happening on October 27th, which is open to anyone interested in seeing the products in action.
Olo Pay is a payment solution enabling 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.
Olo claims that brands participating in the Borderless pilot have already seen impressive results. Over the past quarter, 76 percent 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, Olo’s founder and CEO. “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 is 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