Andrew Bacino’s Post

Learn when and where you should always leave a tip with this tipping guide. #moneytalk #moneysmart

Learn when and where you should always leave a tip with this tipping guide. #moneytalk #moneysmart

One of my goals this year is to write and share more about payments and risk from an operator's angle. I started with Substack and hope to share insights. Please give me feedbacks so I can incorporate topics in subsequent articles.

𝐇𝐈𝐂𝐊'𝐒 𝐋𝐀𝐖 Hick's Law predicts that the time and the effort it takes to make a decision, increases with the number of options. The more choices, the more time users take to make their decisions. Example: 𝘚𝘪𝘮𝘱𝘭𝘦 𝘮𝘦𝘯𝘶𝘴 𝘸𝘪𝘵𝘩 𝘧𝘦𝘸 𝘤𝘩𝘰𝘪𝘤𝘦𝘴 𝘱𝘦𝘳 𝘴𝘦𝘤𝘵𝘪𝘰𝘯 𝘤𝘢𝘯 𝘩𝘦𝘭𝘱 𝘥𝘪𝘯𝘦𝘳𝘴 𝘢𝘷𝘰𝘪𝘥 𝘧𝘦𝘦𝘭𝘪𝘯𝘨 𝘰𝘷𝘦𝘳𝘸𝘩𝘦𝘭𝘮𝘦𝘥 𝘣𝘺 𝘵𝘩𝘦 𝘴𝘦𝘭𝘦𝘤𝘵𝘪𝘰𝘯.

💰 In recent years, iPads requesting a 10pc, 15pc or 20pc gratuity have become a familiar sight in British restaurants, but as confused customers are pressured into paying above and beyond, fintech firms are cashing in. Read the full story at the link below 👇

Amazing leadership is the reason why

🏃 Toast the waiters are churning. Not your buyers. At one of my favorite restaurants recently, I noticed something strange. They had ditched the Toast QR code payment system and gone back to regular receipts. As a fintech nerd and fan of Toast, I had to ask. Turns out, the staff hated it. Why? Their older clientele got confused by the QR codes, leading to fewer tips. For the waiters, that was unacceptable. Despite how much I and other clients love the feature as a customer, the restaurant manager scrapped it to keep the staff happy. This got me thinking: We obsess over making buyers (owners, execs, etc.) happy. But they’re not the ones using the product every day. The end-users—the staff on the ground—hold the keys to retention. It’s a lesson we live by at AccelBooks even as an embedded product. While building, we’ve spoken to over 100 small business owners and their teams to understand pain points across the board. We even manage an internal user advisory staff to ensure we’re building for real-world workflows. In summary: 👉 Happy buyers get you a sale. 👉 Happy users keep you in the game. Thoughts? Have you seen something like this in action? Would love to hear your stories in the comments! 👇 #fintech #payments

In Australia and New Zealand, payments in bars and restaurants have probably already exceeded cash payments and the region is ahead of many other countries. But many operators are locked into using payment vendors dictated to by their choice of solution and are paying over the market rates for payment processing. Read the expert tips on how to avoid this trap! #HighReturnHospitality #WellRunWellLoved #HospitalityTechnology #ReturnOnExperience

💳 Did you know? Acumen Connections can save restaurants an average of $209 a month on processing fees! 💰 In the competitive world of hospitality, every dollar counts. That's why we're here to help you save on payment processing, allowing you to focus on what you do best—serving up delicious meals and unforgettable experiences. Ready to boost your bottom line? Reach out today to learn more about how Acumen Connections can help your restaurant thrive! 🍽️💼 https://lnkd.in/gKba7sYy

“So imagine the wow factor. Instead of sitting there and watching that person in an analog safe counting cash, Brian and I would sit and watch these people. They would pick up their cellphone and then "cha-ching" they got paid” Justin Roberts, Co-CEO of Kickfin, describes the incredible experience of seeing employees receive their cash tips digitally in real time. Together with his business partner and fellow Co-CEO, Brian Hassan, they have built Kickfin. A digital platform that has transformed how hospitality workers receive their tips, offering them greater security, efficiency, and a sense of financial ownership after each shift. “We get so granular with some of these things. And then we're going to put it right in the employee's bank account. Win, win, win.” Brian Hassan points out." Kickfin’s story is one of innovation, resilience, and genuine care for the industry they serve. By prioritizing the needs of both operators and employees, Brian and Justin have built more than a business, they’ve set a new standard in the hospitality world. Watch this week's Digital Hospitality to learn more about how Kickfin’s innovative software is setting a new standard for tip management across restaurants and bars nationwide.