ipaymy Launches New Product to Help Singapore Restaurants Accept Credit Card Payments Online During COVID-19 Breaker
SINGAPORE, May 21, 2020 / PRNewswire / – ipaymy, the Singapore payment optimization platform for small businesses, announced the launch of a new product to help that of Singapore restaurants are quickly establishing online card acceptance capabilities amid the government-imposed shutdown of on-site dining at food establishments across the island.
Restaurant owners at Singapore have struggled to start food delivery operations since the beginning of that of Singapore circuit breaker last month. In fact, a recent survey suggests that 42% of restaurants are now offering delivery for the first time, and although most have a physical POS (Point of Sale) terminal on their site, more than half do not have it. to accept credit and debit card payments. in line. As that of Singapore Restaurants have now shifted all of their business to contactless delivery and take out, one of the biggest challenges is how to collect payments from customers without being able to physically swipe or touch their card.
Listening to these first-hand challenges from their customers, ipaymy has developed a new restaurant-focused card acceptance product in which ipaymy CEO, Ethan Dobson, called “an all-out effort to support restaurants in our community”. The product allows any restaurateur to start accepting card payments online in just a few minutes. Built around a personalized payment request workflow, it offers flexible payment request options such as instant payment via SMS and secure payment links for WhatsApp, email and other communication platforms. The dashboard also provides the tools restaurants need most, such as the ability to check payment status and refund all or part of an order.
“While our platform is designed to help all small businesses manage their cash flow and digitize their inbound and outbound payment transactions, it’s important to recognize that the challenges each segment faces are very nuanced. We want to support local restaurants by making the answer to ‘how do I get paid’ as easy as possible, ”said Dobson.
As a company dedicated to helping small businesses optimize their cash flow, ipaymy’s new product also ensures restaurants get their money fast. Payments processed through ipaymy are deposited directly into the restaurant’s bank account within two business days. This is a stark contrast to other online card acceptance platforms that offer weekly deposits. ipaymy will also offer the service for a fixed price per payment and without any subscription or other monthly fees. In light of the recent controversy over the huge fees charged by popular food delivery platforms, ipaymy’s competitive pricing and short payment time frame make moving delivery operations in-house an attractive option for many restaurants.
“One day we woke up and the world changed. We had to find a way to quickly transition to a 100% delivery and take out business. For us, paying high fees to delivery services would have been. a necessary evil. But with ipaymy, we ‘I was able to transition more smoothly while keeping costs under control. It really is a great tool that made these tough times more manageable,’ said the ipaymy client. , Julien Serna of the Panamericana restaurant in Sentosa.
Restaurant owners can sign up to accept their first payment today here
ipaymy is a payments optimization platform to help small businesses improve their cash flow by allowing them to easily accept credit card payments from customers and use their own cards to pay for business expenses. such as bills, rent, taxes, etc. Ipaymy Pay, Be Paid and Pay Abroad products are available in Singapore, Hong Kong, and Malaysia. To find out more visit www.ipaymy.com