Adyen & Eats365 partner to streamline F&B payments

Adyen and Eats365 have announced a partnership to provide a streamlined payment solution for food and beverage (F&B) businesses worldwide.

Eats365, which currently serves 27 markets with its restaurant point-of-sale systems, will utilise its integrated payment solution, 365pay, to offer Adyen's comprehensive payment capabilities. This partnership aims to facilitate F&B merchants in managing the complete process from ordering to payment across various channels.

The partnership sees 365pay already being implemented in Hong Kong and Singapore, with plans to expand to the Asia Pacific, Europe, and North America shortly thereafter. The collaboration targets thousands of restaurants globally.

One of the primary benefits highlighted by this integration is the enhanced flexibility it offers. Ben Wong, General Manager for Southeast Asia and Hong Kong at Adyen, commented, "We're excited to partner with Eats365 to bring payments innovation to the F&B sector, helping businesses overcome operational and manpower challenges inherent to the industry and ultimately operate more nimbly in both front and back of house settings." This addresses a common shortcoming of traditional payment gateways which often do not meet the varied payment requirements of the industry.

The integration also simplifies reconciliation reporting for F&B merchants. The new system will provide a consolidated financial reporting facility which reduces the administrative workload on businesses, especially given the industry's high transaction volumes. This setup allows businesses to more easily track payment costs and bank settlement progress while simplifying their reconciliation processes.

Furthermore, the partnership aims to streamline the Know Your Customer (KYC) onboarding process for Eats365 merchants. By digitising KYC checks, regulatory compliance is ensured without causing delays, often allowing businesses to be fully onboarded within 48 hours of initiation. This is expected to be particularly advantageous for new outlet openings.

The integration facilitates seamless market expansion for businesses using Adyen's global contract model. It enables F&B businesses to expand into new regions efficiently, offering locally relevant payment methods without the need for further integrations. CoCo Fresh Tea & Juice, for example, is leveraging the technology for its outlets in Asia Pacific, Europe, and North America.

Wilson Lee, Founder and Chief Executive Officer of Eats365, remarked, "Eats365's mission has always been to bridge operational gaps in F&B businesses with innovative, user-centric technologies. With the launch of 365pay in 2024, Eats365 extended its reach, enabling finance managers to benefit from the system's technology. The integration with Adyen streamlines payment operations and ensures a secure, seamless experience for customers."