Financial services and payments technology company Fiserv Inc., based in Brookfield, has launched scanning technology that allows customers choosing to dine inside restaurants to digitally view menus, select their orders, and pay using their smartphones and avoiding contact.
The scanning technology is through the company's cloud-based point-of-sale system called Clover. Clover allows customers to pay using a debit or credit card and smartphone payment systems Apple Pay, Google Pay or Samsung Pay. More than $100 billion in transactions are processed through Clover on an annual basis, Fiserv said.
“As Covid-19 continues to disrupt communities across the country, restrictions limit operations, and delivery service surcharges eat away at profit margins, table service restaurants remain among the most severely impacted businesses,” said John Beatty, co-founder of Clover, in a statement. “With the launch of Scan to Order, we are helping our restaurant merchants get back to business, responding to the way customers want to interact with a touchless order and payment process that is safe, convenient, and cost effective.”
With the scanning technology, restaurants are able to reduce the use of printed menus and update menus in real time, the company stated.
Fiserv (Nasdaq: FISV) recently reported sales increases of 27% for its third quarter, leading to revenue of $3.79 billion, a 21% increase when compared with the year-ago quarter.
Fiserv reported total revenue of $10.9 billion for year ending Dec. 31, 2019, which was 75% higher than $5.82 billion recorded the previous year. The jump in revenue reflects the company's $22 billion all-stock acquisition of First Data Corp., which officially closed in late July of 2019.
