Olo Announces Partnership with FreedomPay and Deeper Collaboration with Stripe to Accelerate Adoption of In-store Payments for Enterprise Restaurants
Olo (NYSE:OLO) announced a strategic partnership with FreedomPay and expanded collaboration with Stripe to enhance in-store payment processing capabilities for restaurants. The integration will enable Olo Pay to process card-present transactions through FreedomPay's payment gateway, which is already integrated with over 1,000 POS systems.
The partnership aims to unify digital and in-store transaction data, providing restaurants with comprehensive guest profiles. Currently, about 18% of restaurant transactions are digital, and this expansion will allow Olo to process the remaining 82% of on-premise transactions. The integration offers benefits including consolidated payment processing, improved omnichannel tracking, and enhanced loyalty program effectiveness.
Olo (NYSE:OLO) ha annunciato una partnership strategica con FreedomPay e un'espansione della collaborazione con Stripe per migliorare le capacità di elaborazione dei pagamenti in-store nei ristoranti. L'integrazione consentirà a Olo Pay di elaborare transazioni con carta presente tramite il gateway di pagamento di FreedomPay, già integrato con oltre 1.000 sistemi POS.
La partnership mira a unificare i dati delle transazioni digitali e in-store, fornendo ai ristoranti profili completi degli ospiti. Attualmente, circa il 18% delle transazioni nei ristoranti è digitale, e questa espansione permetterà a Olo di elaborare il restante 82% delle transazioni in loco. L'integrazione offre vantaggi come l'elaborazione dei pagamenti consolidata, un miglior tracciamento omnicanale e un'efficacia potenziata nel programma di fidelizzazione.
Olo (NYSE:OLO) anunció una asociación estratégica con FreedomPay y una colaboración ampliada con Stripe para mejorar las capacidades de procesamiento de pagos en las instalaciones de los restaurantes. La integración permitirá que Olo Pay procese transacciones de tarjeta presente a través de la pasarela de pagos de FreedomPay, que ya está integrada con más de 1,000 sistemas de punto de venta (POS).
La asociación tiene como objetivo unificar los datos de transacciones digitales y en las instalaciones, proporcionando a los restaurantes perfiles completos de sus invitados. Actualmente, aproximadamente el 18% de las transacciones de restaurantes son digitales, y esta expansión permitirá que Olo procese el 82% restante de las transacciones en el lugar. La integración ofrece beneficios que incluyen procesamiento de pagos consolidado, mejor seguimiento omnicanal y mayor efectividad en el programa de lealtad.
Olo (NYSE:OLO)는 FreedomPay와 전략적 파트너십을 체결하고 Stripe와의 협력을 확장하여 식당의 매장 결제 처리 능력을 향상시키겠다고 발표했습니다. 이번 통합을 통해 Olo Pay는 FreedomPay의 결제 게이트웨이를 통해 카드 직접 거래를 처리할 수 있으며, 이 게이트웨이는 이미 1,000개 이상의 POS 시스템과 통합되어 있습니다.
이번 파트너십은 디지털과 매장 거래 데이터를 통합해 식당에 종합적인 고객 프로필을 제공하는 것을 목표로 하고 있습니다. 현재 식당 거래의 약 18%가 디지털로 이루어지고 있으며, 이번 확장을 통해 Olo는 매장 내 거래의 82%를 처리할 수 있게 됩니다. 이번 통합은 통합 결제 처리, 개선된 옴니채널 추적 및 향상된 고객 충성도 프로그램 효과성을 포함한 여러 혜택을 제공합니다.
Olo (NYSE:OLO) a annoncé un partenariat stratégique avec FreedomPay et une collaboration élargie avec Stripe pour améliorer les capacités de traitement des paiements en magasin pour les restaurants. L'intégration permettra à Olo Pay de traiter les transactions par carte présente via la passerelle de paiement de FreedomPay, qui est déjà intégrée à plus de 1 000 systèmes de point de vente.
Ce partenariat vise à unifier les données des transactions numériques et en magasin, fournissant aux restaurants des profils complets des clients. Actuellement, environ 18 % des transactions dans les restaurants sont numériques et cette expansion permettra à Olo de traiter les 82 % restants des transactions sur place. L'intégration offre des avantages tels que le traitement consolidé des paiements, un suivi omnicanal amélioré et une efficacité accrue des programmes de fidélité.
Olo (NYSE:OLO) gab eine strategische Partnerschaft mit FreedomPay bekannt und erweiterte die Zusammenarbeit mit Stripe, um die Zahlungsabwicklungsfähigkeiten im Restaurantbereich zu verbessern. Die Integration wird es Olo Pay ermöglichen, Transaktionen mit Kartenpräsenz über das Zahlungsgateway von FreedomPay abzuwickeln, das bereits mit über 1.000 POS-Systemen integriert ist.
Die Partnerschaft zielt darauf ab, digitale und stationäre Transaktionsdaten zu vereinheitlichen und den Restaurants umfassende Gästeprofile bereitzustellen. Derzeit sind etwa 18% der Restauranttransaktionen digital, und diese Erweiterung wird es Olo ermöglichen, die verbleibenden 82% der Präsenztransaktionen zu verarbeiten. Die Integration bietet Vorteile wie konsolidierte Zahlungsabwicklung, verbesserte Omnichannel-Überwachung und eine erhöhte Effektivität des Treueprogramms.
- Integration with FreedomPay's gateway expands reach to over 1,000 POS systems
- Potential to capture 82% of on-premise transactions, significantly expanding market reach
- Unified transaction data enables better customer profiling and personalization
- Consolidation of payment processing under single provider reduces operational complexity
- Currently to only 18% of restaurant transactions through digital channels
- Implementation requires integration with existing POS systems, which could pose technical challenges
Insights
This strategic partnership marks a pivotal expansion in Olo's payment processing capabilities, positioning the company to capture a significantly larger share of the restaurant payment market. By targeting the 82% of transactions that occur in-store, Olo is dramatically expanding its addressable market while solving a critical pain point for restaurant operators - fragmented transaction data.
The partnership's value proposition is threefold: First, FreedomPay's extensive integration network (1,000+ POS systems) enables rapid market penetration without the need for time-consuming individual integrations. Second, the unified transaction data creates a powerful competitive moat by enabling restaurants to build comprehensive guest profiles that combine both digital and in-store behavior. Third, the consolidation of payment processing under a single provider significantly reduces operational complexity and costs for restaurant operators.
The technical architecture of this solution - leveraging FreedomPay's processor-agnostic gateway while maintaining Stripe as the underlying processor - is particularly clever. It provides Olo with flexibility to scale while giving restaurants choice in their integration approach. The unified data capability positions Olo as a critical infrastructure provider for restaurants' personalization and loyalty initiatives, potentially increasing switching costs and customer retention.
For investors, this represents a clear path to revenue growth through: 1) Increased payment processing volume from existing customers 2) Enhanced competitive positioning for new customer acquisition 3) Higher customer retention through deeper integration into restaurant operations. The partnership effectively transforms Olo from a digital-only player to a comprehensive restaurant technology provider.
Olo Pay expands in-store capabilities to give more brands access to unified transaction data
This collaboration will accelerate Olo’s ability to process more card-present transactions by leveraging FreedomPay's payment gateway, which is processor-agnostic and already integrated with over 1,000 Point of Sale (POS) and payment systems. Olo Pay can now use Stripe’s payment processing on in-person POS transactions for the majority of its 700+ customers, extending the restaurant-centric benefits customers appreciate about Olo Pay’s digital payments.
By integrating Olo Pay with FreedomPay's Commerce Platform, Olo will be able to offer enterprise brands choice in how they integrate in-store payment processing with Olo: either directly through one of Olo Pay Card-Present partnerships announced in 2024 or through FreedomPay. Like the POS partnerships, integrating FreedomPay and Stripe will enable brands to integrate Olo Pay’s Card-Present solution with Olo Engage, the company’s guest engagement suite. Aggregating both digital and in-store transactions into a single guest data profile will create opportunities for more personalized guest experiences and data-driven decision-making.
"Currently, about
In addition, this integration provides current Olo Pay Card-Not-Present customers additional benefits:
- Consolidates payment processing with a single provider
- Eliminates reconciliation, reporting, and refund challenges due to multiple processors
- Improves omnichannel tracking of guest purchasing history
- Enhances loyalty program and cross-channel promotion effectiveness
"By combining FreedomPay's Next Level Commerce™ platform with Olo's innovative payment solution purpose-built for restaurants, we're creating a unified, secure, and seamless checkout experience that will drive digital transformation," said Chris Kronenthal, President of FreedomPay. “Our work with Olo Pay will help unify the digital and in-store payment experience, improving reporting and providing restaurants with clearer insights for better decision-making.”
This partnership represents a step forward in Olo's strategy to streamline commerce across all ordering channels, offering restaurants more flexibility, efficiency, and guest engagement capabilities to drive the industry toward a more personalized future. To learn more about Olo Pay, visit https://www.olo.com/pay.
About Olo
Olo (NYSE: OLO) is a leading restaurant technology provider with ordering, payment, and guest engagement solutions that help brands increase orders, streamline operations, and improve the guest experience. Each day, Olo processes millions of orders on its open SaaS platform, gathering the right data from each touchpoint into a single source—so restaurants can better understand and better serve every guest on every channel, every time. Over 700 restaurant brands trust Olo and its network of more than 400 integration partners to innovate on behalf of the restaurant community, accelerating technology’s positive impact and creating a world where every restaurant guest feels like a regular. Learn more at olo.com.
About FreedomPay
FreedomPay’s Next Level Commerce™ platform transforms existing payment systems and processes from legacy to leading edge and enables merchants to unleash the power of pay. As the premier choice for many of the largest companies across the globe in retail, hospitality, lodging, gaming, sports and entertainment, foodservice, education, healthcare and financial services, FreedomPay’s technology has been purposely built to deliver rock solid performance in the highly complex environment of global commerce.
The company maintains a world-class security environment and was one of the first payment solution providers in
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Media:
Sam Devito
Olo@icrinc.com
Source: Olo
FAQ
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