SpeedETab, the leader in mobile ordering, mobile payments, and analytics for the food service industry, has received a majority stake investment from Paymentez, the top payments platform for digital goods and mobile ordering in Latin America.
Under terms, SpeedETab will implement Paymentez’s middleware technology to expand the app and its presence to merchants and users across the country. The deal also marks Paymentez’s entry into the US market. Financial details were not disclosed.
“As the complete solution in payments in Latin America, we at Paymentez are thrilled to team up with SpeedETab to enter the U.S. market,” said Juan Franco, CEO, Paymentez.
“SpeedETab is an ideal partner as their software and goals align with what we’ve worked toward in Latin America. Together, we will offer U.S. consumers and merchants a superior mobile commerce experience.”
Since launching in mid-2015, SpeedETab powers mobile ordering and mobile payments at over 200 locations across the United States, including popular brands Panther Coffee, Zaro’s Bakery, Gregory’s Coffee, Toby’s Estate, the Adrienne Arsht Center, and many others.
For customers, SpeedETab’s mobile ordering apps, available on iOS and Android, allow for a frictionless ordering experience. For merchants, SpeedETab provides a turnkey mobile ordering and mobile payment platform, without the time, capital, and infrastructure generally required to develop such an offering.
SpeedETab complements its ordering and payments capabilities with full data analytics, allowing merchants to realize trends and statistics to make better business decisions. SpeedETab will showcase its solution as part of the National Restaurant Show taking place May 20–23, 2017 in Chicago, Illinois.
“SpeedETab has grown at a phenomenal rate since our initial launch as consumers and merchants have embraced our platform as the preferred way to order and pay for items at their favorite venues,” said, Adam Garfield, CEO, SpeedETab.
“With Paymentez’s proven experience, existing POS integrations and tech resources, we’ll be able to expand our reach and grow SpeedETab to new heights.”
Founded in 2008, Paymentez is one of the top monetization platforms for micro transactions in Latin America. Working together with MasterCard Labs, Paymentez launched a mobile ordering platform in Latin America, allowing consumers to pay for products and services from participating stores without having to stand in line.
Paymentez is changing the way people discover, order and buy, and looks to achieve new levels of success as they enter the U.S. market.