The technology restaurants require for point-of-sale (POS) and payment solutions can be both expensive and complicated to deploy. EatMe set out to change this and offer a more affordable solution to eateries and their diners.
Offering the lowest transaction costs possible and automating payouts were the key priorities for EatMe. “We want cheaper direct-store prices for customers. To do this, we help restaurants sell commission-free and get access to the latest ordering technology at the lowest cost possible. Our online ordering tools are free to use, compared to competitors where there is a significant up-front fee and monthly costs,” says Jude Kumar, founder and CEO of EatMe.
EatMe customers also wanted a machine for in-person payments, and the ability to effortlessly reconcile their accounts and integrate all of this with Xero, a Stripe partner. “The ability to easily reconcile orders and payments is a big benefit for our customers and really helps our package to restaurants set us apart,” says Kumar.
With Stripe, EatMe was able to connect these dots, creating an omnichannel ordering, payment, and reconciliation solution that delivered just what restaurants were looking for – all at a reduced cost. EatMe launched in Singapore in 2022, with Stripe as a key partner in the journey.
Stripe Connect, Stripe’s payment integration solution for platforms and marketplaces, handled the growing payout needs with ease and ensured new-customer sign-up was simple and straightforward, with remote onboarding thanks to Connect’s Know Your Customer (KYC) features. All of this made it easier and faster to get new restaurants up, running and serving with EatMe.
Stripe’s unified point-of-sale solution, Terminal, has made a big impact, too. Kumar says that “Terminal has improved our gross transactions, or billings, immensely – from $40,000 SGD per month, mainly online, to over $500,000 SGD, including offline payments using our handheld POS.”
A growing list of happy customers, with onboarding up 126%
With more ways for diners to order and pay, as well as the ability to promote dynamic offers, restaurants are driving demand and boosting sales.
Kumar says that the positive impact is felt by everyone in the process, especially with the swift payouts enabled by Stripe Connect. “It has made payments simple; our experience has been great. Restaurants like it when payments come in one day and are automated. They find the onboarding experience simple, too, which makes a big difference. The experience is good both ways.”
This streamlined process also means that the restaurants’ customers can enjoy cheaper deliveries and access new deals, whether those are eat-in, delivery, or takeaway.
7x transaction growth in just six months
Since getting started with Stripe, EatMe has seen impressive growth and it’s already building the next phase of the business. Singapore is the priority for now, with over 13,000 restaurants on the island, but EatMe is looking to expand further afield, too, in Malaysia, Thailand, and Indonesia. Looking ahead, Kumar is confident that EatMe has made the right call in choosing Stripe. “We believe that Stripe can help us scale into these new markets and continue to offer the best deals to our customers as we do it.”
As EatMe grows further, Stripe supports simpler onboarding for new customers, which means the EatMe team can develop even more new services.
EatMe is set to launch a plug-and-play kiosk ordering system, table reservations with prebook values, and a catering management system, all free to use, thanks to packages it can put together with Stripe.
We set out to make a difference in the hospitality sector by giving access to more affordable technology. Stripe has enabled us to do exactly that, and being able to offer restaurants these rates is fantastic.