Tabbedout

Tabbedout

A screenshot of TabbedOut taken from an Android device
Developer(s)	ATX Innovation, Inc.
Initial release	2010 (2010)
Stable release	iOS 3.4.3 (July 19, 2014 (2014-07-19))[1] Android 3.4.1 (July 20, 2014 (2014-07-20))[2]
Development status	Active
Operating system	iOS 4.3 or later[1] Android 2.2 or later[2]
Size	4.7 – 13.7 MB
Type	Lifestyle, Food & Drink
License	Freeware
Website	www.tabbedout.com

TabbedOut is a free mobile application for iPhone and Android that allows consumers to pay their bar or restaurant tab from their phones. Additionally, TabbedOut has a merchant marketing solution for owners called Periscope.^[3][4][5][6] TabbedOut is based in Austin, Texas.^[5][7][8] The Tech Cocktail Austin Mixer named TabbedOut the “Hottest Showcasing Startup” in March 2013.^[9] In 2013 TabbedOut was listed on CNN Money's list of the top financial apps and sites.^[10]

Company history

TabbedOut was founded in June 2009 by Rick Orr, David Lemley and Jeff Kalikstein.^[5][11]

The mission of TabbedOut is to fundamentally change the way customers of restaurants and bars settle their bills, as well as provide new marketing and loyalty options for the hospitality industry.^[6][12][13] The company’s focus on the hospitality industry has spurred its growth.^[6][12][14]

The app’s first major rollout was during the 2010 SXSW festival in Austin, where it was featured in 35 venues and was available to iPhone users.^[15] As of May 2011, TabbedOut had a presence in 200 restaurants in 90 cities.^[4][13] By early 2013, that number had grown to approximately 1,100 restaurants and bars, including T.G.I. Friday’s.^{[4][6][16][17]} A partnership in May 2013 with point-of-sale (POS) provider Harbortouch places TabbedOut in more than 10,000 locations nationwide.^[4][8]

In September 2012, TabbedOut released a software development kit (SDK) so that bars and restaurants could integrate mobile payment features into their existing apps.^[17] The SDK was made available for both iOS and Android platforms.^[17] T.G.I. Friday’s was the first client to integrate TabbedOut’s functionality within its own smartphone app.^[16][17][18]

Private equity funding

TabbedOut received $2.05 million in Series A funding in October, 2010.^{[5][13][19][20]} The company received an additional $3.7 million in May of the following year.^[5][11][21] New Enterprise Associates provided the funding.^[4][5] Total venture funding since the company’s inception totals $6.5 million.^[21][22]

In October 2013, TabbedOut secured Series B Funding with investment from NEA, Heartland Payment Systems® and Morgan Creek Capital.^[5]

Partnerships

Since its founding, TabbedOut has partnered with numerous point-of-sale service providers as a means to speed the transition toward mobile payment systems.^[4] These partners have included Micros, Aloha, Future, Focus POS, Dinerware, Digital Dining, Harbortouch and Jumpware.^{[4][8][13][17][22]} Transitioning to mobile payment presents both hardware and software challenges, given the variety of POS systems on the market, as well as the different operating systems on smartphones.^[4]

The partnership with Harbortouch, announced in May 2013, has taken TabbedOut to more than 10,000 locations nationally.^[4][8] Harbortouch has integrated TabbedOut into all new installs, as well as upgrade existing terminals to enable the mobile payment and marketing service.^[4][8]

Following on the heels of the Harbortouch announcement, TabbedOut announced an expanded partnership with Future POS, one of its original partners, making Tabbedout available to another 4,000 new restaurant locations.^[3][7]

In April 2012 T.G.I. Fridays became the first national chain to integrate mobile payment through TabbedOut. The partnership brought TabbedOut’s total distribution to 800 locations.^[18]

TabbedOut added PayPal as a payment option in March 2012.^[23]

In May 2013, Google Wallet announced a partnership with TabbedOut, integrating the Google Wallet services into the company’s mobile application.^[24]

In mid-2013, TabbedOut started a partnership with international spirits and wine company Pernod Ricard, which owns brands like Sauza Tequila and Jameson.

Services

For customers, TabbedOut allows secure payment via their smartphones.^[8][25][26] Users enter their credit card one time, and it’s stored with 256-bit encryption.^[25][27][28] The app also enables guests to split bills among each other, calculate tips and call a cab if necessary.^{[4][6][9][10][19]} Tabbedout eliminates the delays often associated with closing out a tab by giving the consumer the ability to close their tab from their phone.^[4][27] An additional benefit of paying with the app is that it significantly reduces the chances of credit card fraud because the customer’s card never leaves his or her possession; the card number is encrypted within the app itself.^[28][29]

TabbedOut differentiates itself from other mobile payment companies, like LevelUp who uses QR codes at the point-of-sale, and ISIS, who uses near field communication (NFC) technology, by allowing consumers to pay their tab without having to be present at the point-of-sale. This is beneficial to the customer who wants a quicker, more efficient way to close their tab.^{[6][8][19][25][27][28]}

Periscope

The TabbedOut Periscope merchant marketing solution, which was added to the TabbedOut platform in April 2013, provides TabbedOut merchants access to customer data, marketing reports and the ability to offer personalized special offers delivered straight to the customer’s smartphone.^[6][7][30] Merchants can track the coupon through the program, and see how much revenue has been driven by bringing a customer back with an offer. Periscope also gives merchants the opportunity to respond to customer comments through TabbedOut—before they decide to leave a comment in a public forum.

Additionally, TabbedOut Periscope for merchants improves marketing efficiency and customer relationship management via knowledge of customer habits and preferences.^[3][6] Periscope also enables instant response to customer feedback.^[3][28]

According to TabbedOut, the service requires no additional hardware because of its integration with POS systems.

Awards and recognition

• In 2010 the company received the RSPA Innovation Solution Award.^[31]
• In 2011 the company received a Fave award for “Fave New Business”.^[32]
• In March 2013, TabbedOut was honored as “hottest showcasing startup” at the Tech Cocktail Austin Mixer.^[9]
• In 2013 TabbedOut made CNN Money's list of the top financial apps and sites.^[10]

References

External links

• Tabbedout Website