Lavu, a US-based iPad point-of-sale (POS) solutions provider, has tapped PayPal to offer EMV payment processing or traditional swipe credit and debit card payments to restaurants, bars, food trucks, and other food/beverage businesses nationally.
Under the partnership, both the companies will offer digital, cloud-based payment and POS systems at considerably low cost for restaurant owners.
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Through this collaboration, PayPal will now be available to Lavu’s portfolio of restaurants, bars and food trucks that generate billions of dollars in transactions yearly.
This deal will also allow Lavu to offer restaurant and bar owners EMV payment processing that is integrated with a clear and transparent pricing structure within its POS software, without any hidden fees.
Additionally, the EMV payment processing provided by Lavu will be integrated with a clear and transparent pricing structure within its POS software, with no hidden extra charges.
Lavu chairman Mirza Baig said: "Restaurant and bar owners are focused on operating profitable businesses, but the current options for processing customer payment transactions can be extremely confusing. Often, these payment processing transactions result in restaurant owners paying 4-5% of customers’ bills in payment processing fees.
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By GlobalData"We’ve worked with PayPal to introduce pricing for payment processing that significantly reduces these fees in a way that is both more transparent and easy to understand."
PayPal vice president of retail and mid-market Brad Brodigan said: "By collaborating with Lavu, PayPal continues to extend the value of our payment processing to even more exciting merchants, and we look forward to working with them on expanding our joint capabilities as we move forward."
