Company backed by a16z, QED and Union Square Ventures, introduces Blackbird Pay, giving restaurants their very own, much-needed payments network for the first time, while finally upgrading the consumer payments experience
NEW YORK, July 30, 2024 -- Blackbird Labs, the hospitality-tech company founded by Resy and Eater co-founder Ben Leventhal, today announced the launch of Blackbird Pay, an all new payments product designed to improve economics for restaurants, while providing guests with a transformative dining experience.
Powered by Blackbird's new blockchain, the Blackbird Flynet, Blackbird Pay gives restaurants a fresh way to address the ever growing problem of shrinking margins and eroding cash reserves by providing them with their very own end-to-end payments and check settlement network for the first time. Restaurants on the Blackbird Pay network pay on average 2% per transaction, a huge cost savings as compared to the fees typical in legacy processing fee structures. At the same time, Blackbird Pay enhances diners' end of meal experience, leveraging the Blackbird platform to allow for automatic settlement, and the hospitality magic of not having to wait for the check. In addition, Blackbird Pay gives diners the added benefit of being able to pay in $FLY, Blackbird's native rewards points.
"In the last decade, we've seen great advances in restaurant technology, but we have made virtually no progress with payments, which tend to be expensive, cumbersome, and technologically opaque for most restaurants," said Ben Leventhal, Founder and CEO of Blackbird. "Blackbird Pay changes all of that and we're excited to partner with the restaurant industry to forge a new path forward."
When a diner checks-in at a Blackbird (member) restaurant, they simply tap on a proprietary Blackbird puck, with an NFC chip at the host stand, or register when they arrive and a check opens within the Blackbird app. Diners can then indicate if they want to split the bill with their tablemates, pay for their meal with their accumulated Blackbird $FLY points, use their credit or debit card within the app to pay, or choose to use a combination of $FLY and a card. They can also tip with it, too. If a diner doesn't have enough $FLY points to cover their meal, they are able to purchase points in-app using traditional payment methods or USDC.
At the same time the customer opens the check, the restaurant is notified that the diner is a Blackbird guest. The customer's dining profile includes a proprietary Guest Value Score, as well as key information, such as their dining history with the restaurant and VIP status. This empowers restaurants to offer perks, benefits, points, access and other fine-tuned hospitality to entice and reward their guests.
"Blackbird Pay has the power to revolutionize the entire restaurant business," said Roni Mazumdar, co-owner of Unapologetic Foods. "Being able to save thousands of dollars a month in processing fees alone is incredible, but being able to now have one place where we can strengthen ongoing relationships with our customers, is a total game changer in this challenging environment."
Alongside Blackbird Pay, Blackbird has also shipped new messaging and discovery functionality, signaling the company's vision for a future of frictionless, fun, and mutually beneficial connectivity between guests and restaurants. This past spring, Gjelina New York turned to Blackbird to sell house accounts, raising close to $500,000 to open a new location, and Sra. Martinez, a new restaurant by James Beard Award-winning chef Michelle Bernstein, recently created a founding members program for the opening of her new restaurant in Miami, where members are able to gain access to tables one week ahead of reservations opening, receive free cocktails and amuse bouche while dining, and directly message the restaurant in-app with questions, needs or with any special and unique requests.
With popular programs like Blackbird Breakfast Club and Bar Blackbird helping to drive traffic to restaurants during slower periods of time when venues need support in bringing in new customers, Blackbird's approach to diner loyalty is actively addressing today's restaurant industry pain points.
Current restaurants on Blackbird include: Anton's, Bangkok Supper Club, Barbuto, Crown Shy, Ensenada, Ernesto's, K'Far, Laser Wolf, L'Appartement 4F, Margot, Momofuku, Moody Tongue Sushi, Nami Nori, Nom Wah, PDT, Parcelle Wine Bar, Raf's, Razza, Romeo's, Saga, Semma, Sunday in Brooklyn, Temple Bar, and Upside Pizza in NY; Leon's, Renzo, Kwei Fei, and Rancho Lewis in Charleston; Sato Omakase, Osito, SPQR, and Birdsong in San Francisco, with new establishments joining daily.
For more information about Blackbird Pay, please visit: www.blackbird.xyz
About Blackbird Labs
Blackbird is a hospitality technology company, focused on leveraging the power of direct connectivity between restaurants and their guests. Blackbird offers a loyalty and payments platform for restaurants and a consumer app designed to make every guest feel like a regular no matter where they dine.
Blackbird was founded in 2022 by Ben Leventhal, co-founder of Eater and Resy, two companies that have transformed the restaurant industry (Eater was acquired by Vox in 2013; Resy by American Express in 2019). Blackbird's investors and partners include a16z, Union Square Ventures, Amex Ventures, Shine Capital, Variant Fund, Multicoin Capital, IAC, Vayner Fund, Circle Ventures, Mischief, and Tribute Labs, plus leading restaurant groups: Quality Branded, Rustic Canyon Family, Souvla and Brooks Reitz.
The Blackbird app acts as a user's wallet where they can manage their memberships, monitor their $FLY balance, Pay with Blackbird and message restaurants in one place. The app is free and available for download on iOS and Android.
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