GLOBAL – Leading global provider of software, systems, and service solutions for restaurants PAR Technology has launched Punchh Wallet, a digital wallet for restaurants that integrates payment processes with loyalty programs.
PAR Technology’s new digital wallet is now accessible at 100,000 partner restaurants across 110 countries.
The wallet is designed to streamline payments by offering saved payment methods, stored value, and digital passes that function both within and outside restaurant apps.
By centralizing these features, Punchh Wallet offers insights into customer behavior, which can support increased customer lifetime value and drive strategic growth for restaurants.
Early adopters of Punchh Wallet have reported substantial benefits, including a 163% rise in customer lifetime value, a 70% increase in sign-ups among Apple Pay users, and a 6.5-fold boost in customer visit frequency.
Punchh Wallet’s features also include secure credit card storage within the app, reducing the need for physical cards at checkout. Customers can manage stored value digitally without requiring physical gift cards and can access exclusive food passes.
Integration with Apple Wallet and Google Wallet allows customers to join loyalty programs and make payments without the need for a standalone app.
The wallet aligns with PAR Technology’s mission to improve restaurant operations and customer engagement through connected solutions.
By consolidating payments, loyalty programs, and guest data into a single platform, it addresses the technological challenges that have previously hindered some restaurants from adopting fully integrated systems.
In 2021, PAR Technology acquired Punchh in a cash-and-stock deal worth USD 500 million, expanding its loyalty and guest engagement offerings.
In October, PAR partnered with NomadGo, a spatial AI inventory solutions provider, to bring AI-powered inventory management to the food service industry.
NomadGo’s AI inventory data will be integrated with PAR’s Data Central back-office platform, allowing restaurants to shift from manual inventory tracking to a quick scanning process via smartphone or tablet.
This upgrade is expected to save up to 15 hours per month, enabling staff to focus more on customer service. Additional advantages include reduced errors, improved operational efficiency, and cost savings for restaurant operators.
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