Olo Pay is a payment solution that provides everything restaurants need to drive sales, reduce fraud, and simplify payment processes. The fully-integrated payment stack adds new capabilities that augment both the merchant and consumer experiences.
With this new financial product, restaurants can simplify the ordering process for consumers by offering mobile wallet support and allowing credit cards on-file to be used at any of a brand’s participating locations. In addition to the consumer-facing benefits, Olo Pay offers fraud prevention that increases authorisation rates for valid transactions and uses risk-score-based screenings to reject suspect transactions.
The company will also introduce borderless payments capabilities in 2022, allowing consumers to pay at any participating restaurant within the Olo Pay network, with no account creation, password management, or manual credit card entry required. By giving consumers the ability to save and access their payment information on file, restaurants may see an increase in basket conversion, retention, visit frequency, and spend.
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