Kickfin x MasterCard: How Real-Time Payments Drive Better Experiences for Businesses and Employees

We know how important same-day payments are for veterans of the service industry who are accustomed to quick cash — and we’re now seeing that same demand expand into other industries as well. 

Kickfin co-founder Justin Roberts joined MasterCard’s InConversation Webinar series to discuss why immediate payment disbursal is key for the restaurant industry and the gig economy as a whole.

Watch the webinar here or read our recap for the highlights: 

People live paycheck-to-paycheck

Not just some people are living paycheck to paycheck. Most people are. 

That’s right: around 64% of U.S. consumers are just getting by. Even more shocking, 51% of consumers who earn over six figures are still living paycheck to paycheck, despite their higher tax bracket. 

It’s a major reason why employees need access to their earnings sooner rather than later. The pressure of watching your bank account slowly drain in the two weeks between payday is putting a lot of pressure on people, leading to a much greater demand for instant payments than ever before. 

Instant payouts are now table stakes

A PYMNTS study found that people of all ages prefer to be paid out immediately, as well as some other interesting statistics:

  • When given the choice, 68% of respondents said they would opt for an instant pay out
  • 40% of gig workers surveyed were willing to pay a fee for an instant disbursement
  • 81% of respondents were willing to switch jobs to an employer that offers instant access to earned wages and tips

It’s safe to say instant payouts are becoming the expectation for today’s modern workforce. But not all instant payouts are created equal.

Consumers are much more likely to engage with an instant payout system if they aren’t required to share their bank account and routing numbers and can access funds with just their debit card credentials. Why? It’s faster, more convenient, and feels more secure. 

Instant payouts and tip management: a perfect use case.

Instant payout innovation has come at the perfect time for the restaurant industry, which is struggling more than ever with the hassles and cost of cash.

If you’re in the restaurant biz, then you know: Most consumers pay with credit cards these days, not cash. That means there’s rarely enough cash on hand to pay out tips at the end of a shift. But employees still want and need instant access to their tip earnings.

Enter: instant payouts. Offering employees the option to receive their tip earnings directly to their bank of choice, the second their shift ends, can go a long way in improving employee satisfaction and ensuring their financial security.

But instant payouts are more than a work perk for employees. The operational benefits for employers range from reduced administrative burden and significant time savings to stronger compliance and streamlined reporting.

Modernizing your tip management strategy: 5 best practices 

There are three key components to your tip management strategy: 

  • Tip pool policy: How are you divvying up tips among your staff? 
  • The payout method: How are you distributing those payments?
  • The systems and tech: What are you using to facilitate those payments?

Under the current circumstances, restaurant operators are under immense pressure to bring their tip management into the future. 

5 best practices for tip management 

Based on our experience working with restaurant operators across the country, we’ve found that these five practices are the perfect recipe for building a successful tip management system.  

  1. Determine the right model and method for your restaurant, based on your location and tech stack
  2. Get a written tip policy (and get it legally approved
  3. Solicit employee feedback in a structured way
  4. Leverage technology for efficiency, accuracy, and compliance
  5. Don’t over-complicate (but do over-communicate!)

Tip management solution must-haves

When seeking a new tip management solution, make sure you carefully vet each system to see if it really meets your needs, or if it’ll be just as frustrating as cash. Here are a few suggestions for what should be on your checklist: 

  • Instant payouts
  • Direct to bank of choice
  • Availability of employee funds
  • Payroll option 
  • Integrations 
  • Simple implementation + onboarding process 
  • Around-the-clock customer service 

Big emphasis on strong customer support teams. Restaurants and bars don’t have “typical” business hours, so neither should your tech support.

Bar Louie automates payouts with Kickfin 

In a recent case study, we took a deep dive into our partnership with Bar Louie, a chain with over 60 locations that took advantage of our new integration with Toast. They made the switch from cash payouts to Kickfin’s instant, direct-to-bank payouts and haven’t looked back.  

Two-minute tip-outs

Before Kickfin, managers spent an average of 45 minutes per shift working through Bar Louie’s complex tip out policy and counting cash. The tip pooling rules were important to them — it’s what makes the entire staff feel like they’re getting their fair share. 

Using the Kickfin Toast integration, Bar Louie was able to automate the tip pool calculation process and send tips straight to employees in under two minutes – a potential annual savings of 15,000 labor hours across all locations.

>> See more customer success stories 

Do you want to see these kinds of cost-saving results at your business? Let’s talk. Get a demo of Kickfin and see why restaurant owners and employees alike trust us to manage their tips.

New Tip Calculation Features You Don’t Want To Miss

Big news: Kickfin’s best-in-class tip calculation tool has some exciting new bells and whistles. 

If you’re already using Kickfin’s tip pool calculator, then you know how much time and hassle you’re saving by automating everything. (And if you’re not? Head over to our tip pooling software page to see how it works!)

As we partner with more restaurants to bring their tip management into the future, we’re continuing to innovate our product so we can address their biggest pain points.

In this case, that means enhancing our tip pooling features so you can auto-calculate tip amounts even for the most complex tip pool or share policies.

Check out a few of our latest features that will make tip calculations easier than ever.

🕺 Splitting large party tips 

If your restaurant often hosts large parties, you know that the tip share can get confusing. Say one server is taking care of a party of 40 with a bartender assigned to only make drinks for that party. Meanwhile, the server has a few other two-top tables that are getting drinks from the main service bar. At the end of the night, how do you ensure that the large-party bartender gets their fair share of the tip out (without spending an hour on your phone calculator)? 

Kickfin can now automate that process for you, alleviating questions from your event bartender and saving time and effort on the part of your managers. 

📲 Seamless POS integrations 

Kickfin is partnering with the top POS systems to integrate seamlessly with your existing restaurant tech — including Toast, Heartland, Shift4 and more. 

DID YOU KNOW? Kickfin integration users get access to new product features first, like our new tip-out transparency tool — which allows your staff to log into their Kickfin accounts and see exactly how their tips have been split between team members. An added layer of visibility can go a long way in cultivating trust (and eliminating those pesky tip disputes).

💸 (Re)Allocation of manager tips 

We’re always listening to feedback to improve the Kickfin experience, and this one goes out to all of our restaurant partners who asked us to streamline the manager tip reallocation process.

>>Learn more about managers and tipping laws

In most cases, managers are not allowed to earn tips since they are salaried employees. But we all know that managers often step in and take care of tables to help servers get out of the weeds. Well-meaning guests will most likely leave a tip, not knowing that the manager technically can’t accept them — so where does that money go?

Kickfin now features a default pool, where tips “paid” to a manager are automatically redistributed to tipped staff based on your restaurant’s tip policy. 

🤓 Improved labor data accuracy

We all know how easy it is for an employee to forget to clock out after a long shift. And sure, they aren’t going to get paid for a 16-hour overnight shift, but when payday comes around, those extra hours create a nightmare for your payroll team. 

With Kickfin, all employees are required to be clocked out in order to finalize payments — so you’ll catch the labor data mistake long before your payroll team has to sort it out. 

🔑 Even better security 

We’re committed to protecting your business (and your employees’ hard-earned money), so we’re adding an extra layer of security for certain transactions.

You can now enable double approval of payments that meet certain conditions:

  • First payment for new employees
  • Employees getting their first payout in X number of days
  • Employees receiving more than X payouts in a 24-hour period. 

With these extra guardrails in place, you can always be sure that the right money is going to the right person. Reach out to our support team to configure your custom security measures.

Using Kickfin is a win-win for operators, managers, and employees alike. Restaurateurs save on cash delivery and labor costs, managers shave hours off their workload, and servers have the same instant payment that they’re used to — without the hassle and uncertainty of cash. 

Want to learn more about Kickfin? Let us show you the ropes with a 10-minute demo!

Kickfin Makes Inc.’s List of Top 10 Fastest Growing Companies in the Southwest

No growing pains here! 

We’re thrilled to announce that Inc. listed Kickfin in their list of the top 10 fastest growing companies in the Southwest. (In fact, we earned the #1 spot in the software category and were listed as #9 overall!) We’re honored to be included alongside innovative companies that are making a big difference in our region. 

Inc. measured Kickfin’s growth from 2020 to 2022 — which wasn’t an easy time for the restaurant industry, to say the least. In spite of the challenges posed by the pandemic, restaurant concepts across the country embraced Kickfin’s technology. 

As a group, the 2024 Inc. honorees averaged 136% growth and created 17,606 new jobs over a two-year period. Individually, Kickfin grew by a whopping 1,304% (yes, really!).

We want to recognize and thank both our amazing customers and the Kickfin team for being part of our success story and allowing us to be a part of theirs. 

Our Customers

For years, restaurants manually calculated and paid out cash tips — despite the increasing hassle and liability those old-school methods entail. It’s not because operators are tech-averse; there simply wasn’t a good way to automate the process that didn’t create new friction or require new workarounds. 

That’s precisely why we developed Kickfin. Of course, we’re proud of what we built and the team behind it (more on that below). But we owe a great deal of our success to the customers who trusted us enough to give Kickfin a shot — especially those early adopters who are now some of our longest-standing customers.

There’s a leap of faith involved when you partner with a vendor and layer in new technology, particularly when it impacts something as important and sensitive as how you pay your people.  We don’t take that lightly, and we are incredibly grateful for the opportunity to serve each and every customer who’s been on this journey with us.

>> Hear from our customers about their experiences with Kickfin

Our Team 

Every person on our team wholeheartedly believes in our mission and vision for the future. In short: we’re here to make the tip management process insanely easy for everyone so that paying out your people is (almost!) as great as getting paid. 

As backstory: Our co-founders, Brian and Justin, came up with the idea for Kickfin while dining out together and noticing that an armored car was dropping off cash. They asked why a restaurant would need a cash delivery when most patrons pay by card; the manager explained the cash was needed to pay out tips at the end of the shift. The inefficiency (and expense, and risk…) of that process was a lightbulb moment for Brian and Justin.

They set out to build a team who not only understood the problem, but could think critically and creatively about a solution — and bring it to life. 

From sales and marketing to product and support, every Kickfin employee has had a hand in the growth and success of our company, thanks to their passion for our purpose and their commitment to being best in class.

We’re proud of what we’ve achieved thus far, and we’re excited to continue collaborating with our customers, innovating on their behalf, and taking Kickfin to the next level together. Onward and upward!

Security Tips and Housekeeping for Restaurant Employers and Workers

The hospitality industry is more digitized and automated than ever before. And that’s a great thing — because the right solutions can save crazy amounts of time, cut costs, and generally make everyone’s life a whole lot easier. 

But with new technology comes new best practices, especially when it comes to cybersecurity.

Kickfin, like many other software companies, keeps this top of mind. Our product team has built a platform that takes security insanely seriously — in fact, it’s our number-one priority.

And on the Customer Success side, we do everything in our power to ensure Kickfin users are trained to recognize and avoid any potential risks before they ever log in to the platform.

Of course, some of those things are easy to forget even for the most tech-savvy customer — especially when you’re short-staffed and over-booked. But to make things more challenging: best practices are always evolving.

That’s why, periodically, we recommend customers assess the overall strength of their cybersecurity to help prevent any unwanted threats to their businesses. Below is a rundown of the most important and effective ways that Kickfin users can protect themselves and their companies from cybersecurity threats. 

(Keep in mind: these are coming from your friends at Kickfin, but most apply to any software solution or platform that’s linked to personal, financial or otherwise sensitive information.)

Why should I care about cybersecurity?

According to a report by Cisco Systems, phishing accounted for the second most common threat against business. It’s “popular due to its simplicity and effectiveness…, accounting for 90% of data breaches.” 

Typically, with phishing, a perpetrator will:

  • Target your end users, bypassing any system-based protections you have in place.
  • Contact your users via email, though some phishing attacks also occur by phone.
  • Try to get access to your system by getting your end users to provide a password or to click on a link that will install malicious software on your computer systems.

Phishing scams can generally happen to anyone or on any software platform, regardless of how airtight the security mechanisms are. In many ways, it’s like a thief gaining access to a safe. They’re not breaking into it; they’re tricking the owner into opening it for them.

The Tech Support Phishing scam is on the rise – and one that we think you are most likely to see in the hospitality industry. As recently as October 2022, the FBI issued a warning to business regarding scammers targeting financial accounts by claiming to be customer or tech support representatives from tech companies. One key method they employ is the installation of remote desktop software on the victims’s computer in order to gain control of the computer and, ultimately, of the financial accounts. In 2021, there was $347 million in losses due to tech support scams, impacting almost 24,000 victims.

Fortunately, there are several things you can do to ensure this doesn’t happen.

How to protect your restaurant from cybersecurity threats

At the end of the day, you really can’t control whether you’re the target of a phishing scam — but you can control how you react and whether they’re successful. As always, knowledge is power. 

Here’s how to ensure phishers aren’t given the “keys to your safe,” so to speak.

1. Use the principle of least leverage

Only give users the absolute minimal access they need to do their jobs. Again, that goes for any software you’re using, but within Kickfin, there are four user roles with varying privileges: 

  • Org Admin: Has access to all locations in the organization; can add/edit/delete users and make payments at any of the locations. We recommend that the number of org admins be kept to the bare minimum of who needs access.
  • Site Admin: Has access only to those worksites to which they are assigned; can add/edit/delete users and make payments at those locations.  We recommend that the number of site admins be kept to the bare minimum of who needs access.
  • Manager: Has access only to those worksites to which they are assigned; can only make payments at those locations; cannot add/edit/delete users.
  • Employees: can only receive payments from those worksites to which they are assigned. They have no access to the administrative areas of Kickfin. Most of your staff should be in the Employee role.

Again (just for the folks in the back!): the majority of your staff should not have Org Admin, Site Admin, or Manager privileges.

2. Educate your staff on proper password management.

Many people are well aware of proper password management, but it’s easy for anyone to get complacent, especially if you’ve never before been the target of a phishing scam. Top things to know about password security:

  • Kickfin will never call you and ask for your password. Legitimate service providers will not ask you for your password to assist you with their system.  This is a common tactic of phishing scam artists in order to gain access to your accounts.
  • Do not share your password with anyone. (Ever.) Managers should not share their passwords with others in the organization, and we do not recommend using a generic login (such as generalmanager@restaurant.com).
  • Passwords should be unique to the individual. Make it something you can remember, but that is not easy to guess. They should not include any commonly used catch-phrases or mottos belonging to your organization.
  • Passwords should contain multiple character types. Consider using numbers and symbols to replace letters in a word, for example D3liciou$Eats! 
  • Use a passphrase instead of a password. A long phrase (the longer the better!) is much more difficult to crack, such as !tal!an Food !$ my Favor!t3
  • Do not use the same password for multiple systems. If your password is compromised, you can limit the harm caused by only using it for one system.
  • Do not make your password accessible. For example: do not write the password on a post-it note stuck to the monitor or under the keyboard or mousepad.
  • Consider a password generator. Your team may want to consider using automatic password generators that are available through most operating systems, or using a password manager that will generate a site-specific password that is randomly generated and virtually impossible to guess.

3. Clean up your user list.

Remove any employees (particularly Admins and Managers) who are no longer with your organization.  Make sure everyone has the right role for their job (see #1 above!).

4. Take extra steps to protect shared computers.

If your team members are using a shared computer, encourage your users to log out of important systems and applications each time they step away from the computer to avoid someone using their account session for illicit purposes.

5. Educate your staff on how to avoid phishing scams and social engineering hacks.

Provide them with training on common phishing and social engineering techniques, how to avoid them, and how to respond to them.

6. Develop a cybersecurity action plan.

Know who to contact in the event of a breach and how best to protect your business.  Make sure all managers know your company’s protocol for reporting an incident should one occur.

What to do if you’re the victim of a phishing scam

Chances are, you’re already doing a lot of things right.

If you, an employee or your business becomes a victim of a phishing scam, please do the following:

  • If it involves your Kickfin account, notify our support team immediately. We can help minimize the loss and help you recover your account.
  • Report the incident to your local law enforcement agency, the FBI’s Internet Crime Complaint Center at www.ic3.gov, and FTC’s Report Fraud site at www.reportfraud.ftc.gov
  • Make sure all passwords are updated with new passwords that include letters, numbers and symbols.
  • Scan your computer to make sure any malicious or unknown software has been removed.

And as always, we’re here to help. If you’d like a security review of your account, please contact us at support@kickfin.com.  We’ll work with you to ensure that all your users are in the appropriate role for their needed level of access.

Electronic Transactions Association Recognizes Kickfin as Top 10 ISV

AUSTIN, Texas (February 21, 2023) — The Electronic Transactions Association (ETA) today announced that Kickfin has been named a Top 10 Payments Independent Software Vendor (ISV).

ETA launched this award in 2023 to recognize ISVs that are offering disruptive software solutions, making a recognizable impact, and driving the payments industry forward. 

“The hospitality workforce truly makes the world go around. We built Kickfin because we wanted to change the way those front-line employees are paid, for the better,” said Kickfin co-founder Justin Roberts. “Electronic Transactions Association’s recognition of Kickfin underscores our leading position in the digital tipping category and is a meaningful validation of our mission to reimagine employee payments.”

Ranked the #1 tipping software, Kickfin is the nation’s largest provider of instant, cashless tip payments. Restaurants, bars and hotels use Kickfin to digitally accept, calculate and tip-out their employees in real-time. By removing cash from the tip payment process, businesses can focus on delighting their customers, while maximizing the earning potential of their people.

Untitled design - 2021-04-29T114014.973

ETA’s recognition of Kickfin underscores our leading position in the digital tipping category and is a meaningful validation of our mission to reimagine employee payments.

To be considered for the ETA Top 10 award, candidates had to be ISVs that are “integrating payments solutions that disrupt the industry and drive payments forward.” Software solutions were judged on whether they add significant value to the organizations that use them, and whether they deepen the relationship between the user and the chosen platform.

Additionally, winning ISVs needed to demonstrate:

  • Enhanced user experience
  • Improved payments security and PCI DSS Compliance
  • A quicker, more efficient payments process for merchants
  • Increased revenue generation and stickiness

Kickfin will accept its Top 10 Payments ISV award at TRANSACT, ETA’s annual convention, April 24-26 in Atlanta.

To learn more about Kickfin’s digital tipping software, visit kickfin.com/demo.

US Foods Adds Kickfin to Innovative Partnerships Program

We’re kicking off 2023 with some big news: US Foods Holding Corp. (NYSE: USFD), one of America’s largest foodservice distributors, has announced the addition of Kickfin to its US Foods Innovative Partnerships incubator program.

The program was designed to help US Foods find the most innovative and proven technology solutions for their customers. Potential technology solutions are selected to participate in regional customer engagement events to demonstrate the solution and gauge operator interest and viability.

Following a successful introduction, Kickfin will be eligible to be activated nationally within the CHECK Business Tools program.

Untitled design - 2021-04-29T114014.973

Joining the US Foods incubator program means we’ll be able to help even more restaurants solve for cash shortages, uncover new operational efficiencies and foster the financial wellbeing of their employees.”

“Restaurant teams are feeling the pain of old-school tip-out processes — which is why demand for digital tipping is at an all-time high,” said Kickfin cofounder Brian Hassan. “Kickfin enables thousands of hospitality employers to send instant, cashless tip payouts, directly to their employees’ bank of choice, at the end of every shift. Joining the US Foods incubator program means we’ll be able to help even more restaurants solve for cash shortages, uncover new operational efficiencies and foster the financial wellbeing of their employees.”

For more information about how US Foods is helping customers “Make It” through CHECK Business Tools, visit usfoods.com/our-services/check. View the full press release here

About US Foods

With a promise to help its customers Make It, US Foods is one of America’s great food companies and a leading foodservice distributor, partnering with approximately 250,000 restaurants and foodservice operators to help their businesses succeed. With 70 broadline locations and more than 80 cash and carry stores, US Foods and its 28,000 associates provides its customers with a broad and innovative food offering and a comprehensive suite of e-commerce, technology and business solutions. 

Kickfin Closes Series A to Fuel Growth Across the Hospitality Industry

Yes, we closed our Series A — and we’re really excited about it. But before we dig into the big news, we want to provide a little context…

Kickfin was founded to solve a really big problem for hospitality. A problem that, until very recently, most employers considered a necessary evil. 

Cash tip payouts just don’t work for hospitality teams — at least, not anymore. It’s the ultimate square peg in a round hole: Restaurants have automated everything else, yet over 90% of outlets have continued to pay out cash tips. Back when Kickfin was just an idea, operators often told us, “This is just how we’ve always done it. It’s hard, but there isn’t a better way.”

So: we built a better way. 

Over the past few years, we’ve helped thousands of restaurant teams hit the reset button on cash tip payouts — offering them a simple, seamless way to digitize the most analog aspect of their operations.

And while we love uncovering new efficiencies and removing operational burdens (who doesn’t?) — the most meaningful part of our work has been seeing how Kickfin makes life easier for service industry workers across the country. Those frontline, essential employees need and deserve real-time, unfettered access to their earnings — and with Kickfin, that’s exactly what they get.

Closing our Series A is an incredible milestone for Kickfin. It’s certainly taken a lot of hard work to get here, and we’re proud of what our team has accomplished. 

But mostly, we’re excited about what this means for our current and future customers, and for our industry as a whole. Through our partnership with Silverton Partners and Acronym Venture Capital, we’ve got the platform and firepower we need to reach new markets, innovate like never before, and truly change the way hospitality pays their employees, for the better.

Bottom line: We’ve come a long way, but we’re just getting started — and we’re grateful to every customer, partner, and employee for coming along for the ride. 

Brian & Justin

Kickfin Co-Founders

Kickfin, the Leading Gratuity Management Software, Closes $6M Series A to Fuel Growth Across the Hospitality Industry

AUSTIN, Texas (June 23, 2022) — Kickfin, the leading gratuity management software for hospitality, today announced it has secured its Series A funding to further accelerate the company’s rapid growth.

Silverton Partners led the round, with participation from Acronym Venture Capital—following a seed round led by Loomis U.S.—which brings Kickfin’s total funding to $11 million.

“The explosive growth we’ve achieved is a testament to hospitality’s need and desire to remove cash from the tipping process,” said Justin Roberts, Kickfin co-founder. “In partnership with our investors, Kickfin will continue on its path to becoming the new status quo for tip distribution,” said co-founder Brian Hassan.

“Kickfin is the ultimate win-win solution: It removes costly inefficiencies for employers, while ensuring frontline hospitality workers get paid the way they want to get paid. We’re thrilled to partner with Kickfin and provide a platform for growth as they continue to revolutionize employee payments in this space,” said Roger Chen, General Partner at Silverton Partners.

Launched in 2017, Kickfin eliminates the operational burdens of cash tipping for every type of hospitality outlet, while fostering the financial security of employees. Brands like Marco’s Pizza, Twin Peaks, Melting Pot and Walk-On’s Sports Bistreaux use Kickfin to send real-time, cashless tip payouts directly to their employees’ bank of choice, 24/7, 365.

In the past year, Kickfin has experienced exponential growth across the full-service, fast casual and quick-service hospitality segments. According to data provided by Visa, Kickfin ranked number one in transaction count and volume for tip disbursements in 2021. Kickfin’s customers span every type of outlet, including fine dining, cafes and coffee shops, pizza and delivery, hotels, stadiums, event venues, airport concessions and country clubs.

By digitizing tip payouts and distributing them in real time, employers can eliminate bank runs, reduce theft and human error, and streamline reporting—all while increasing employee satisfaction. Kickfin’s technology also ensures organizations remain compliant with complicated, ever-changing tip pooling regulations, and it integrates with existing POS and payroll systems.

“Cashless transactions have created new challenges for hospitality businesses,” said Joshua B. Siegel, General Partner of Acronym Venture Capital. “With Kickin, we saw a solution that greatly reduces expenses, eliminates a critical pain point for management, and gives workers real-time access to daily tip earnings—a significant portion of their earnings—while eliminating hidden and predatory fees. We are excited to back Brian and Justin as they continue to build Kickfin to increase frontline worker’s take-home pay.”

 

For media inquiries, please contact:

Keely Hungate
VP Marketing, Kickfin
423.802.3662
keely@kickfin.com

 

ABOUT KICKFIN

Kickfin is the leading gratuity management software. Restaurant and hospitality brands across the country use Kickfin to tip out employees in real-time, directly to their bank accounts — no cash required. Solve for cash shortages, reduce the risk of theft and human error, and recruit more workers by giving your team immediate access to their tips. Visit kickfin.com/demo to learn more.

ABOUT SILVERTON PARTNERS

Silverton Partners is focused on funding and mentoring early-stage businesses led by founders who share in its commitment to disrupt growth markets and build enduring companies. Founded in 2006, the firm brings the benefits of its vast network and decades of rich experience to each partnership. Austin-based Silverton is the most active venture capital investor in Texas and has been the initial investor behind visionary companies including AlertMedia, Billie, WP Engine, SailPoint, Silicon Labs, Storable, Vacasa, Self Financial, Wheel, and The Zebra. For more information, visit www.silvertonpartners.com.

ABOUT ACRONYM VENTURE CAPITAL

Acronym Venture Capital invests in technology and omni-channel consumer companies that have achieved at least $1m in ARR across Late Seed and Series A rounds of financing. Acronym seeks to invest in startups that focus on sustainable growth in sectors where we can leverage our network to assist with revenue-generating relationships. For more information, visit www.acronymvc.com.

The Brass Tap/Beef ‘O’ Brady’s Partners with Kickfin and Visa Direct to Enable Cashless Tip-outs for Employees

FSC Franchise Co., which franchises more than 200 Beef ‘O’ Brady’s and Brass Tap locations, has long been known for a workplace culture that fosters the wellbeing of employees.

So it’s no surprise that the franchisor was an early adopter of digital tipping. Following an RFP process — and after soliciting input from their employees — FSC selected Kickfin as the the company’s digital tipping solution.

With Kickfin, Beef ‘O’ Brady’s and Brass Tap now employees receive tips in real-time(1), at the end of every shift — directly to their bank of choice. And, importantly, the brands have realized new efficiencies by eliminating cash tip-outs and all of the operational headaches that come along with cash. (Think: fewer bank runs, improved tracking and reporting, significantly reduced risk of theft, skimming and human error…the list goes on.)

For more details on our partnership, read the full press release below. (And if you’re ready to enable a secure, compliant, cashless tipping program across your org? You know where to find us!)

The Brass Tap/Beef ‘O’ Brady’s Partners with Kickfin and Visa Direct to Enable Cashless Tip-outs for Employees

The Brass Tap and Beef ‘O’ Brady’s, owned by FSC Franchise Co., reaffirm their employee-first culture by providing real-time1 access to tip earnings.

AUSTIN, Texas, Nov. 30, 2022 /PRNewswire/ — Kickfin, the largest tip disbursement enabler in the U.S., today announced its partnership with FSC Franchise Co., which franchises more than 200 locations, to serve as the franchisor’s gratuity management platform.

Leveraging the combined technology of Kickfin and Visa Direct, FSC Franchise Co. can send real-time1, cashless tip payouts directly to their employees’ existing bank accounts.

“Cash tip payouts had become unworkable for our team, so we began exploring digital tipping solutions,” said Scott SirLouis, COO of FSC. “After running an RFP process, we selected Kickfin because it ensured our tipping program would be scalable and compliant across our entire organization. And most importantly, we had buy-in from our employees: when we surveyed our staff, 100% opted to get instant tip payouts through Kickfin.”

Kickfin is the only gratuity management platform that gives employees the power to choose how and when they want to receive their tips, so they are not limited to a third-party issued paycard. Brands like FSC Franchise Co., Marco’s Pizza, Walk-On’s Sports Bistreaux and Rock N’ Roll Sushi use Kickfin to improve recruiting and retention while eliminating operational challenges related to cash management.

Kickfin’s technology also ensures organizations remain compliant with complicated, ever-changing tip pooling regulations, and integrates with existing POS and payroll systems. Kickfin customers have saved 5-15 hours per manager, per location every week.

“Many hospitality employees have chosen to work in this industry because they get access to their earnings after every shift,” said Justin Roberts, co-CEO of Kickfin. “As restaurants struggle to pay out cash tips, it’s critical that they digitize their tip payment program to ensure that their staff continue to get immediate access to their tips. Brands like FSC Franchise Co. are setting a new standard for employers that understand the importance of prioritizing the needs of their people and modernizing their operations.”

ABOUT FSC FRANCHISE CO
FSC Franchise Co. is the industry-leading franchisor behind Beef ‘O’ Brady’s and The Brass Tap, with nearly 200 locations across the United States. Beef ‘O’ Brady’s, with 143 locations in 21 states, is a family sports pub concept that provides the perfect atmosphere for friends and families to watch the game and grab a bite. The Brass Tap, a craft beer bar and entertainment venue with 44 current locations in 16 states, is known for extensive localized brewery offerings, specialty cocktails and premium wines paired perfectly with a select menu of upscale shareables.

ABOUT KICKFIN
Ranked the #1 tipping software, Kickfin is the nation’s largest provider of instant, cashless tip payments. Restaurants, bars and hotels use Kickfin to digitally accept, calculate and tip-out their employees in real-time. By removing cash from the tip payment process, businesses can focus on delighting their customers — while maximizing the earning potential of their people.

1 Actual fund availability depends on receiving financial institution and region.

[Product Announcement] It’s here: Introducing Kickfin 2.0!

New look, same great tech. (But better.)

In case you haven’t heard: this summer, Kickfin is bringing the heat. We’re rolling out Kickfin 2.0 to all of our existing customers — and all new customers will be directly onboarded to the new version.

(Don’t have Kickfin yet? There’s never been a better time to sign )

Almost every person at Kickfin, at some point in their careers, has worked in or for the hospitality industry.

Which is why it’s been incredibly rewarding — and if we’re being honest, a little mind-blowing! — to see how a simple solution like Kickfin has solved such a huge problem for restaurant teams. But we believe it’s always possible to make something great even better.

So, since day one, we’ve made it a point to do a lot of listening. We’ve talked to countless restaurant teams. We’ve observed their operations and felt their pain points. We’ve analyzed user data (sooo much data!) and drawn some powerful insights.

We took all of that information to heart — and poured everything we learned back into our product.

Long story short: everything you love about Kickfin is staying the same, but we’re making it more automated, more flexible and easier to use than ever before.

Read on to see what’s new in Kickfin 2.0, or scroll down to see the video!

First: Here’s what’s not changing.

Kickfin is the same instant, cashless tip payment tool that thousands of restaurant teams across the country rely on day in, day out. Tip payments will always go straight to your employees’ bank accounts — no matter where they bank! — the second their shifts end, 24/7/365.

Other things that aren’t changing (we promise!):

  • No hardware required
  • No contracts, ever
  • No set-up fees
  • …and pricing is the same as it’s always been.

Now, for the updates and upgrades (drumroll, please):

Aside from looking pretty dang sleek (if we do say so ourselves!), Kickfin 2.0 is going to make account management even more intuitive for you and your employees, and the payment process now has added layers of visibility, cleaner reporting, and a whole lot more…

Account updates:
  • Enhanced log in: Sign in with email, phone number, or both. (Have a Gmail account? Users can now login using Google credentials!)
  • Universal, life-long accounts: Employees only need a single Kickfin account, even if they’re working at multiple sites or in different roles. And accounts are now permanent: employers can “dismiss” employees if they leave, but employees can still log in to see historical tip payments. They also can use the same Kickfin account with a future employer.
  • Stronger security: Birth date is used for identity verification in password and account recovery cases. Kickfin 2.0 also validates login emails and/or phone numbers and requires them to be unique.
  • More flexibility: Job titles and tip classifications (direct or indirect) are set at the site level, and titles can be overridden when a tip is being issued. That means an employee can pick up a shift with an alternate role, and tips will be classified correctly.
Payment updates:
  • Align payments with your workday. The new “payment sets” feature allows you to view payments organized by time or shift — and you can include a description for payment sets to keep them straight. Payments will also be tracked to business days. (Open past midnight? No problem: You can configure your account to understand what “business day” means for you.)
  • No debit card? Pay anyway. Enter tips for any employee in your system, even if they haven’t added a debit card yet. Payments are queued and will be issued once the employee adds their card.
  • Cleaner ledger management. If a payment fails, Kickfin will try to deliver payment for 30 days before the payment expires. The funds will only be returned to your account after the payment expires, creating less “noise” in your ledger.
  • Payment notes. Enter notes for the entire payment group and for individuals, so you can give your employees extra visibility.

What’s next

We’re constantly seeking out ways to innovate, optimize and improve our solution. But from day one, we designed Kickfin to be stupid simple for our users, and to work the way your team works. That’s always going to be a very top priority for us — because we know it’s a top priority for you.

If you’re a current Kickfin customer, you’ve already heard from our Customer Success about upgrading your account. And if you’re not a current customer: what are you waiting for?! Get in touch and we’ll give you a personalized tour of the new platform!

Visa Direct Partners With Kickfin for Real-Time Tip Payouts

Big news: Visa and Kickfin are teaming up!

Kickfin has been validated as the largest tip disbursement enabler in the U.S. — so it only makes sense that we’d partner with Visa, the world leader in digital payments.

As our customers know well, the combined technology of Kickfin and Visa Direct enables hospitality employers to send real-time, cashless tip payouts directly to their employees’ bank of choice.

That means everyone — from nationwide, enterprise brands to franchisees to mom-and-pops — can enable a secure, compliant (and cashless!) tipping program that gives your people exactly what they want

Simply put: Kickfin’s collaboration with Visa Direct is a testament to the need for cashless tipping — and the impact that real-time tip payouts can have on front-line, essential service workers across the country.

Read the full press release below. (And if you’re ready to enable a secure, compliant, cashless tipping program across your org? You know where to find us!)

Kickfin Partners with Visa to Enable Real-Time Tip Payouts for Restaurants, Bars and Hotels

With Kickfin and Visa Direct, employers can distribute real-time*, cashless tip payouts directly to their employees’ bank accounts.

AUSTIN, May 12, 2022 /PRNewswire/ — Kickfin, the largest tip disbursement enabler in the U.S., today announced its official collaboration with Visa, the world leader in digital payments. Leveraging the combined technology of Kickfin and Visa Direct** — Visa’s real-time money movement network — service industry employers can send cashless tip payouts directly to their employees’ existing bank accounts via eligible debit cards, 24/7/365.

Kickfin is the leading gratuity management platform for hospitality. National brands in the full-service, quick-service and fast-casual segments use Kickfin’s digital tipping solution to improve recruiting and retention and help reduce operational challenges related to cash management.

With Kickfin and Visa Direct, employers distribute real-time, cashless tip payouts directly to their employees’ bank accounts

Historically part of the full-service restaurant and hotel culture, tip programs are increasingly leveraged by quick-service restaurants as a means to increase employees’ take-home earnings. However, the rise of credit card and digital transactions has made it difficult to pay out tips in cash at the end of every shift.

By digitizing tip payouts and distributing them in real time, directly to their employees’ bank accounts, employers can reduce bank runs, reduce theft and human error, and streamline reporting — while increasing employee satisfaction. Kickfin’s technology also ensures organizations remain compliant with complicated, ever-changing tip pooling regulations, and it integrates with existing POS and payroll systems.

“The hospitality workforce consists of frontline, essential employees. They need, deserve and quite frankly expect immediate access to their earnings,” said Justin Roberts, co-CEO of Kickfin. “When employers offer real-time, cashless tip payouts, the message is clear: they care about the financial well-being of their employees. Kickfin provides a long-term, sustainable solution for the operational, recruiting and compliance needs of the modern hospitality employer, and we’re excited to see how our collaboration with Visa will continue to transform the industry for the better.”

“We live in a world with expectations of immediacy and convenience, necessitating the need for a global money movement network that is nonstop,” said Yanilsa Gonzalez-Ore, SVP, North America Head of Visa Direct. “With Visa Direct, we’re helping transform the next generation of global money movement and are excited to help bring fast, digitized tip disbursements to Kickfin’s clients in the U.S.”

ABOUT KICKFIN
Kickfin is the leading gratuity management software. Restaurant and hospitality brands across the country use Kickfin to tip out employees in real-time, directly to their bank accounts — no cash required. Solve for cash shortages, reduce the risk of theft and human error, and recruit more workers by giving your team immediate access to their tips. Visit kickfin.com/visa-payouts to schedule a free demo today.

* Actual fund availability depends on receiving financial institution and region
** Visa Direct capability enabled through Kickfin’s financial institution partner