Since then, it’s grown into a platform used by hundreds of hospitality and entertainment brands across Australia and New Zealand, serving over 10 million users.
Using Stripe to pivot
When pubs and restaurants were forced to close their doors due to local lockdowns, they needed to act quickly to adopt new ways of trading in preparation for restrictions being lifted. Businesses turned to providers such as Mr Yum to offer contact-free solutions for ordering food and drinks.
Powered by Stripe, Mr Yum was able to scale up seamlessly and lead the charge as Australia’s hospitality sector underwent a digital revolution to cope with the impact of Covid.
Unprecedented level of growth
The number of venues using the ordering service has grown by 950% since March 2020. The mobile website has seen traffic of over ten million users and, compared to the same time last year, Mr Yum served 1166% more customers in January 2021.
Stripe ensured there was a smooth and stable payment infrastructure to handle the significant rise in transaction traffic. Stripe Connect allowed Mr Yum to facilitate next-day payments to hospitality venues during a time when smooth cash flow was vital to pay staff and suppliers and keep local economies moving.
Equally, the integration of smart anti-fraud technology (Radar and dynamic 3D secure) has saved valuable time, money, and stress for venues by substantially reducing fraud attempts and chargebacks, while reinforcing trust in Mr Yum’s platform.
“Mr Yum and Stripe have been partnering way before we experienced last year’s explosive growth. As a startup, it’s been incredibly important to have someone like Stripe to reach out to since day one to offer advice and ideas,” said Kim Teo, Mr Yum’s CEO and co-founder.
Following its success in Australia, Mr Yum now plans to enter overseas markets, including the UK and USA, using Stripe’s global presence to assist its rapid intercontinental growth.
“When we expand into new markets, we know Stripe can support that expansion with minimal changes to our operations. It’s invaluable when you’re growing as fast as we are… 27x in a year, fast!”, Kim Teo added.
Here for good
While many expected pubs and restaurants to revert to their old ways of displaying menus and ordering at the bar, data from Mr Yum shows the adoption of digital solutions has continued. From the easing of Australian restrictions in October 2020 to January 2021, Mr Yum’s month-on-month growth rate has been 46%!