Canadian payments start-up Tab has introduced a new application enabling customers to pay bills at a restaurant automatically through the app, bypassing the traditional time-consuming bill-paying system.
The app is free for download, and enables users to set up a profile and feed in their payment details. It lists the participating restaurants located in the close proximity of the user, and also sets a standard tipping percentage.
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The payments company has collaborated with 18 high-end restaurants in the city of Toronto for the service.
Tab provides the participating restaurants with iPad Minis that check customers in, and provide the customers’ profile, allowing for a more personalized experience. Following the meal, Tab will collect amount from credit card of the user to pay the bill entered by the restaurant server adding the default tip, according to The Globe and Mail.
Tab co-founder Adam Epstein was quoted by the news agency as saying, "Ultimately, our goal is that, once you’ve done those two clicks, you put your phone in pocket, and enjoy your meal."
Tab charges a small percentage of the bill as a fee, which Epstein claims is much lower than the fees that payment processors usually charge restaurants.
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By GlobalData
