Restaurant loyalty app Blackbird Labs in the present day introduced the launch of a brand new device geared toward chopping fee transaction charges for eating places, whereas permitting prospects to settle their examine in-app—while not having to trace down the server. And in a nod to the crypto expertise that makes it work, Blackbird will now let prospects pay their examine utilizing a token referred to as $FLY, which additionally capabilities as loyalty factors inside the app.
Blackbird, launched in 2022, is the brainchild of the co-founder of Eater and Resy, Ben Leventhal, who began the brand new firm in response to the declining profitability of eating places. It bought its begin in New York Metropolis however can be obtainable in Los Angeles and Charleston. “I feel connectivity between company and eating places is eroding,” Leventhal instructed Fortune on a name.
The most recent addition to its restaurant software program is named Blackbird Pay, and supplies a funds and examine settlement community. Blackbird Pay is constructed on the app’s personal blockchain, which hosts the $FLY token.
Blackbird helps eating places higher know their prospects by monitoring on-chain information a couple of diner’s spending habits—and is straightforward to make use of even for small, neighborhood joints that lack the information groups of huge chains. In return for utilizing eating places on the app, diners generate $FLY loyalty factors, which grants them freebies and last-minute tables. Its traders embody a16z, Union Sq. Ventures and Amex Ventures, amongst others.
Simply moved $50 USDC into $50 value of FLY. Now I’m going to purchase a espresso w $FLY. Testing now. GA in two weeks. That is taking place. pic.twitter.com/RJhy5vH4JT
— Ben Leventhal (@benleventhal) July 4, 2024
What’s new?
On Blackbird Pay, eating places are charged a flat fee of two% per transaction, decrease than typical bank card charges which may be as excessive as 3.75%. From the shopper’s standpoint, after checking-in on the restaurant—both in-app, or scanning a sensor—they’ll have the selection to settle the examine utilizing a credit score or debit card in-app, or utilizing the $FLY factors of their pockets. If a diner doesn’t have sufficient $FLY tokens to cowl their meal, they can buy factors in-app utilizing conventional fee strategies or the stablecoin USDC. Till now, the loyalty factors could possibly be spent on appetizers, cocktails, last-minute tables and merch—however now, they are often deployed to cowl the entire steadiness.
Whereas salons and occasional retailers could use punch playing cards to domesticate buyer loyalty, Leventhal thinks in the case of diners, “it’s a barely extra difficult method.”
When prospects pay in-app, Blackbird Pay can analyze a spread of variables for every diner, and translate this again to the restaurant as a buyer profile and a “Visitor Worth Rating.” In different phrases, how worthwhile are they for this enterprise? Metrics embody their prior journeys to all eating places on the community (together with their very own), what they spend cash on and the way a lot, frequency of spend, and what number of $FLY factors are of their pockets. This enables eating places to supply perks and fine-tuned hospitality to their most loyal or goal prospects.
“There’s a backdrop for Blackbird which is eating places speaking about how unhealthy expertise is, how a lot they’re paying for it, and what it leaves to be desired when it comes to information and connectivity,” Leventhal mentioned. Along with the brand new fee community, Blackbird has not too long ago created an in-app messaging function, which permits diners to direct message with hosts overseeing their reserving.
