SumUp launches Magic Pay for the hospitality sector
Magic Pay responds to shifting post-pandemic customer needs
London, 21st July 2022: SumUp (www.sumup.co.uk), the financial partner for over 4 million small businesses worldwide, today announced the launch of SumUp Magic Pay (magicpay.sumup.com), a QR code payment solution for the hospitality sector.
Hospitality customer behaviour has shifted post-pandemic. As the sector reopened in phases, it became apparent that we had grown accustomed to using QR codes and after two years of life going digital - from work, to celebrations, to workouts, and more - we now expect to have everything at our fingertips. On the flipside, the ceremony of dining out, of visiting a new restaurant or bar, is something we still enjoy.
Therefore, in response to this shift, SumUp has launched Magic Pay. Now, at the end of a meal, everyone at the table can receive a copy of the bill, by scanning a QR code on the table. From there, a bill can be split, a tip added, and payment conducted (Apple or Google Pay both an option). Receipts can be sent via email as well. No app, account or any admin - just scan, split, pay.
During a three month test phase where over 100 restaurants in the UK trialled Magic Pay, SumUp found that:
On average, almost half of guests chose the QR code payment method
Tips for wait staff increased by 38% on average - thanks to the prompt in Magic Pay
Magic Pay saves wait staff about 12 minutes per table - 12 minutes that they can use to provide better service
Only 2 out of over 100 restaurants stopped using Magic Pay, all the others are still going strong
For restaurants, the technology is seamlessly integrated within the UK’s number one point-of-sale solution - making life easier for frontline hospitality staff. The technology makes receiving payment easier and faster, and seizes upon customer behaviour changes.
Joseph Flynn, Head of Order & Pay at SumUp said: “SumUp has spent a decade at the side of entrepreneurs and SMEs. Our mission is to make business life as simple and efficient as possible - and to remove the stress of taking payment. Magic Pay will provide a win-win for merchants and customers alike through its easy integration and user-friendly design - just scan, split, pay.”
Monika Grybauskaite, Manager at Darjeeling Express (as featured on Netflix’s Chef’s Table, www.darjeeling-express.com): “Magic Pay is a great system to work with, it's easy and fun to use. Magic Pay saves our guests time when paying the bill, they can even split it with friends without the struggle to calculate. Our team loves it and our guests love it! We are happy to be part of it. “
In recent years, SumUp has also expanded into point-of-sale solutions, and with the acquisitions of Goodtill, Tiller, and Fivestars, the company is rapidly expanding its footprint within the restaurant and retail sectors. In June 2022 SumUp announced new funding, totalling £510 million, that gave the company an enterprise value of almost £7 billion following a decade of rapid growth and global expansion.