TabbedOut Allows Users to Pay Restaurant Tabs Via Smartphone

The company recently raised $3.7 million for its mobile payment platform.

May 11, 2011

AUSTIN, Texas - Another company has entered the mobile payments arena. TabbedOut apps for iPhone and Android lets customers pay for restaurant and bar meals via their smartphone, Tech Crunch reports. TabbedOut recently raised an additional $3.7 million in funds, which joins the $5.75 million from the company??s Series A venture funding round.

One point of differentiation with TabbedOut??s platform is that the apps let users keep credit card data on their phones under encryption and pass-phrase protection, rather than on TabbedOut??s servers. This helps to protect consumer data.

The app also lets browsers search for restaurants that will take TabbedOut. At the restaurant, the user shows the app to the server, who then receives a code. Ordering proceeds as usual and payment is processed via TabbedOut. TabbedOut also can handle partial or split payments and will send receipts via email.

Thus far, TabbedOut is accepted in 90 cities in 20 states. Recently, the company partnered with MICROS, a point-of-sale vendor for restaurants, which will likely significantly increase the number of restaurants and bars participating.

For more on the future of payments, check out the cover story in the current issue of NACS Magazine.

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