Tabbedout and MICROS Launch Mobile Payment Offering in U.S.
AUSTIN, TX – May 9, 2011 – Tabbedout, the secure and convenient way to open, view and pay your tab with a smartphone, is now fully integrated with the POS technology of industry leader MICROS Systems, Inc. (NASDAQ: MCRS). This offering means a larger segment of the hospitality industry across the country can now promote a mobile payment option – and the more than 69M U.S. consumers with smartphones in their pockets have an instant, secure and free way to experience mobile payment today.
“Tabbedout’s approach marks a radical shift in the mobile payment landscape,” said Michael L. Russo, Chief Technology Officer, MICROS. “We partnered with Tabbedout as the integrated solution to provide our merchants with the peace of mind of security encryption on the back end, coupled with the marketing capabilities and social media integration on the front end.”
Available for free on both iPhone and Android smartphones, the Tabbedout application was built by security experts with ease of use and marketing capabilities in mind. Unlike other mobile payment solutions, Tabbedout allows users to store credit card information directly on their phone, under passphrase protection, instead of on host servers. Consumers are safe from the threat of lost or stolen credit cards and can open, view and pay their tab at their own pace, and share their social experiences with friends via Facebook, Twitter and Foursquare, all within the application.
Currently, Tabbedout’s powerful payment solution has enabled thousands of mobile payments at a network of restaurants and bars across 20 states in 90 cities. Today’s news will have an immediate and direct impact on the number of merchants offering the Tabbedout service to patrons.
Commented Rick Orr, CEO, Tabbedout: “Partnering with MICROS enables us to offer unparalleled integration and expand our network of venues, which means more consumers will be able to experience the security and ease of paying with their phone. Mobile payments are a hot topic, but research shows that mobile payment is a reality at only .1% of the overall U.S. retail sales landscape. We are excited to accelerate our growth while helping merchants generate more profit and offering consumers the unique capability to maximize their time with friends rather than anxiously awaiting their check.”
How it Works
Once Tabbedout has been downloaded for free from the iPhone App Store or Android Market, consumers can quickly and easily find locations and open, view and pay tabs. Credit and debit card information is encrypted securely on the user’s phone, not on Tabbedout’s servers. A random secret code is displayed on the screen each time a consumer opens a tab – that’s the only information the consumer needs to provide the server or bartender. Customers can leverage Tabbedout’s integration with top social networks to check-in and let their friends know where they are or to check-out and let them know where they are going next. Receipts can be emailed automatically and customers can even call a local cab using Cabbedout, all from within the app.
Merchants experience increased sales, payment security and operations efficiency with the Tabbedout solution embedded in their MICROS POS system. Customers are able to pay on their own time, so restaurants and bars can serve more people, especially during peak hours. Additionally, merchants reduce fraud exposure for their patrons by removing the exchange of a physical credit card. Payment information is validated upfront and the POS clearly notifies the staff when a tab is paid.
About MICROS Systems, Inc.
MICROS Systems, Inc. provides enterprise applications for the hospitality and retail industries worldwide. Over 330,000 MICROS systems are currently installed in table and quick service restaurants, hotels, motels, casinos, leisure and entertainment, and retail operations in more than 130 countries, and on all seven continents. In addition, MICROS provides property management systems, central reservation and customer information solutions under the brand MICROS-Fidelio for more than 26,000 hotels worldwide, as well as point-of-sale, loss prevention, and cross-channel functionality through its MICROS-Retail division for more than 90,000 retail stores worldwide. MICROS stock is traded through NASQAQ under the symbol MCRS.
For more information on MICROS and its advanced information technology solutions for the hospitality industry, please contact Louise Casamento, Vice President of Marketing at (443) 285-8144 or (866) 287-4736. You can also visit the MICROS website at micros.com or send an email to email@example.com.
Tabbedout is the cure for forgotten credit cards and missing out on a good time. Tabbedout makes mobile payment a simple and secure process that is widely available, so that bars and restaurants can spend more time with their customers. The free Tabbedout mobile app for iPhone and Android lets consumers open a tab with their mobile phone, view their tab in real-time and pay the tab anytime, anywhere, putting them in control over how and when they pay. For more information, visit: tabbedout.com or contact firstname.lastname@example.org to learn more about becoming a Tabbedout partner.