Tip Safe
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The document proposes a mobile payment solution called Tip Safe that allows customers to pay their restaurant bill and add a tip using their phone. It works by providing customers with a barcode and number on their bill that they scan using the Tip Safe website or app, where they can categorize the payment and add a tip before paying securely with their phone. The payment would then be processed through the restaurant's existing NCR payment system. Restaurants and customers would benefit from the faster and more secure payment process compared to existing options. The company would make money by partnering with existing payment processors and charging restaurants a slightly lower transaction fee than competitors.
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Tip Safe
- 1. Tip Safe
- 2. Problem Restaurant payment options and not secure and take a long time.
- 3. Security Ratings Restaurants are about 4 Walgreens is about a 1-they don’t touch your card.
- 4. My solution Your bill comes with a barcode and a number on it. You scan the barcode and tip safe website pops up You can categorize business or personal You can add the tip You pay with your phone The register shows you paid
- 5. How does it work? server register phone
- 6. 8 out of 10 restaurants use NCR systems you would load the software on NCR machine at the restaurant Loads up to server and pushes down to phone Pushes back to the server and NCR machine to finalize payment. Restaurants like it because it saves time Customers like it because its secure
- 7. How you make money 1 st Data is the largest visa and Mastercard processing company. Fee for transaction with merchant services 1 st Data would give the restaurant a discount Say 1 st Data charges 2.45% per transaction you could charge 2.35% per transaction