Payo is Australia's first eat now, pay later app exclusive to hospitality.

Payo's mission is to support the hospitality industry by encouraging more people to dine out and enjoy more. Payo customers can eat and drink at payo partner restaurants, cafes and bars and pay the bill in four fortnightly instalments with zero interest simply by scanning a QR code. Payo also offers users access to exclusive, limited time offers at participating venues.

Payo is the pioneer of Buy Now, Pay Later (BNPL) in the hospitality industry in Australia and even worldwide. Launching in Australia in March 2021, payo is currently available in Brisbane, Sydney, Melbourne and the Gold Coast with plans to expand nationwide.

And if the stats from our first year are anything to go by, BNPL for hospo is only going to get bigger:

- We have increased the average order value across our partners by 50%.
- Our users are going back 4-5 times to the same venue after making a transaction on Payo.

Our purpose will continue to be focused on creating a win-win for both the customer and merchant. Payo customers have a better experience by being able to dine out with the financial flexibility to split the bill in four payments. We also support growth for our merchants by delivering higher spending customers through increased average order values, loyalty, winning new customers, and improving restaurant efficiencies.

Payo has also recently launched payo checkout - a self-checkout technology that allows customers to scan a QR code at their table to pay their bill in seconds.


Why the hospitality industry needs a “Buy Now, Pay Later” solution

It’s no secret that the hospitality industry has been hit hard by the pandemic. QSRs and food venues have had to close their doors, losing valuable revenue in the process. 

But what if there was a way for recovering QSRs to offer their customers an extra incentive to buy? With a "Buy Now, Pay Later" (BNPL) solution, restaurants could give their customers the option to spread out their payments over time, making it easier and more affordable for them to dine out. 

This could be a major boost for the industry, as it would not only help restaurants recover lost revenue, but also encourage people to continue dining out during these difficult times. 

The benefits of BNPL

Amid the pandemic, BNPL rapidly grew in popularity, and is set to balloon by as much as 181 percent in 2024, according to a report by

In the retail business, BNPL is most popular with purchases of household appliances, furniture, clothing, and accessories. However, in Australia, 28% of transactions involve essentials such as food. Between 2018 and 2019 alone, overall spending via BNPL grew 50% in the country. 

In the new normal, business owners are increasingly seeing the value of having a BNPL payment option to:

  1. Attract Customers
    According to Forbes, nearly half of consumers said they spend anywhere from 10% to over 40% more when they use the buy now and pay later plan versus when they use a credit card. This means that BNPL is one major consideration for customers looking where to eat next.

  2. Increase Sales
    The Buy Now, Pay Later feature allows customers to safely and securely purchase food or drinks at the venue and then pay for them later. This would be helpful for consumers who want to enjoy a meal or drink but are hesitant because they do not have the money to pay for it right away.

  3. Build loyalty
    Customers who know that a BNPL option is available in a restaurant are more likely to return for repeat purchases.

Payo brings BNPL to the hospitality biz

BNPL means big business. By implementing this payment scheme, hospitality venues will be able to experience all of BNPL’s benefits and unlock a market of over 6.5 million Australians who already use BNPL.

Millennial and Gen Z audiences, in particular, love the convenience of BNPL and prefer it over traditional credit cards. These generations are also called the "foodie" generations, and they are more likely to spend money on dining out than any other age group.

With Payo, restaurants can offer their customers a convenient and affordable way to pay for their meals and drinks. Payo has successfully incorporated the traditional dining experience into its BNPL platform so that customers can split their bills between four equal interest-free payments. 

According to CEO and Co-Founder Taf Chiwanza, the solution was created by a desire to provide customers with a little extra without breaking the bank. So rather than scrimping and depriving oneself in order to save money, Payo enables clients to enjoy more or upgrade their meal.

Furthermore, venues can attract bigger ticket events and functions, as well as receive immediate payment for these larger transactions.

The app combines all transactions into only two monthly payments each Wednesday instead of four fortnightly payments for every single purchase. This makes it easier for customers to keep on top of their repayments and prevents them from being overwhelmed by multiple bills.

Restaurateurs and eager diners alike benefit from the app, which has supported businesses to reopen their doors after being shuttered by COVID-19.

Payo believes how special it is to eat good grub with mates on a night out. It understands that for Australians, an amazing meal can be one of the best ways to celebrate, whether it is a birthday cocktail, a romantic event, or just a random night out.

This is why Payo helps local businesses grow through BNPL, and at the same time, helps Aussies upgrade their dining experience and use their mealtime as a social event through a flexible and affordable payment option.

Want to know more?  Enquire here.

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