Olo Announces Partnership with FreedomPay and Deeper Collaboration with Stripe to Accelerate Adoption of In-store Payments for Enterprise Restaurants
Olo Pay expands in-store capabilities to give more brands access to unified transaction data
Olo (NYSE:OLO), a leading restaurant technology provider, announced a new partnership with FreedomPay, an innovative leader in Next Level Commerce™ technologies, to improve restaurant payment experiences nationwide. The partnership also deepens Olo's relationship with Stripe, a financial infrastructure platform for businesses, which will include in-person transaction processing. Olo Pay launched with Stripe as its original partner for digital payments in 2022, and the partnership will now be updated for an omnichannel world providing restaurants with a truly unified solution.
This collaboration will accelerate Olo's ability to process more card-present transactions by leveraging FreedomPay's payment gateway, which is processor-agnostic and already integrated with over 1,000 Point of Sale (POS) and payment systems. Olo Pay can now use Stripe's payment processing on in-person POS transactions for the majority of its 700+ customers, extending the restaurant-centric benefits customers appreciate about Olo Pay's digital payments.
By integrating Olo Pay with FreedomPay's Commerce Platform, Olo will be able to offer enterprise brands choice in how they integrate in-store payment processing with Olo: either directly through one of Olo Pay Card-Present partnerships announced in 2024 or through FreedomPay. Like the POS partnerships, integrating FreedomPay and Stripe will enable brands to integrate Olo Pay's Card-Present solution with Olo Engage, the company's guest engagement suite. Aggregating both digital and in-store transactions into a single guest data profile will create opportunities for more personalized guest experiences and data-driven decision-making.
"Currently, about 18% of restaurant transactions are digital," said Noah Glass, Founder & CEO of Olo. "By processing the remaining 82% of on-premise transactions, we're uniquely positioned to provide restaurants with a 360-degree view of their guests by combining the newly captured in-store data with the digital order data they already have from our online ordering. This visibility will allow restaurants to better personalize interactions, making every guest feel like a regular and driving superior hospitality."
In addition, this integration provides current Olo Pay Card-Not-Present customers additional benefits:
- Consolidates payment processing with a single provider
- Eliminates reconciliation, reporting, and refund challenges due to multiple processors
- Improves omnichannel tracking of guest purchasing history
- Enhances loyalty program and cross-channel promotion effectiveness
"By combining FreedomPay's Next Level Commerce™ platform with Olo's innovative payment solution purpose-built for restaurants, we're creating a unified, secure, and seamless checkout experience that will drive digital transformation," said Chris Kronenthal, President of FreedomPay. "Our work with Olo Pay will help unify the digital and in-store payment experience, improving reporting and providing restaurants with clearer insights for better decision-making."
This partnership represents a step forward in Olo's strategy to streamline commerce across all ordering channels, offering restaurants more flexibility, efficiency, and guest engagement capabilities to drive the industry toward a more personalized future. To learn more about Olo Pay, visit https://www.olo.com/pay.
About Olo
Olo (NYSE:OLO) is a leading restaurant technology provider with ordering, payment, and guest engagement solutions that help brands increase orders, streamline operations, and improve the guest experience. Each day, Olo processes millions of orders on its open SaaS platform, gathering the right data from each touchpoint into a single source—so restaurants can better understand and better serve every guest on every channel, every time. Over 700 restaurant brands trust Olo and its network of more than 400 integration partners to innovate on behalf of the restaurant community, accelerating technology's positive impact and creating a world where every restaurant guest feels like a regular. Learn more at olo.com.
About FreedomPay
FreedomPay's Next Level Commerce™ platform transforms existing payment systems and processes from legacy to leading edge and enables merchants to unleash the power of pay. As the premier choice for many of the largest companies across the globe in retail, hospitality, lodging, gaming, sports and entertainment, foodservice, education, healthcare and financial services, FreedomPay's technology has been purposely built to deliver rock solid performance in the highly complex environment of global commerce.
The company maintains a world-class security environment and was one of the first payment solution providers in North America to be validated by the PCI Security Standards Council. FreedomPay's robust solutions across payments, security, identity, and data analytics are available in-store, online and on-mobile and are supported by rapid API adoption. The award winning FreedomPay Commerce Platform operates on a single, unified technology stack across multiple continents allowing enterprises to deliver an innovative Next Level experience on a global scale. Learn more at www.freedompay.com
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Sam Devito
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