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Kickfin Partners with Visa to Enable Real-Time Tip Payouts for Restaurants, Bars and Hotels
Friday, May 20, 2022
With Kickfin and Visa Direct, employers can distribute real-time(1), 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 partnership with Visa, the world leader in digital payments. Leveraging the combined technology of Kickfin and Visa Direct(2) -- 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.
With Kickfin and Visa Direct, employers distribute real-time, cashless tip payouts directly to their employees' bank accountsKickfin 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.
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.
(1) Actual fund availability depends on receiving financial institution and region
(2) Visa Direct capability enabled through Kickfin's financial institution partner
View original content:https://www.prnewswire.com/news-releases/kickfin-partners-with-visa-to-enable-realtime-tip-payouts-for-restaurants-bars-and-hotels-301546328.html
SOURCE Kickfin
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