Blackbird Labs Introduces Crypto Payment System for Restaurants

New initiative by Blackbird Labs enables diners to pay for meals with cryptocurrency, enhancing loyalty rewards.

Blackbird Labs, founded by Resy co-founder Ben Leventhal, has launched Blackbird Pay, allowing participating restaurants to accept payments in cryptocurrency. This system integrates with Blackbird's loyalty program, using $FLY tokens earned from dining at partnered eateries.

Backed by American Express and a16z, Blackbird raised over $24 million in 2022. The new payment platform, operating on Blackbird Mainnet built atop Coinbase's Base chain, aims to reduce transaction fees for restaurants, charging a flat 2% fee compared to traditional credit card fees of up to 3.75%.

Leventhal highlighted the potential for this innovation to provide financial relief and operational efficiency for the restaurant industry, historically burdened by high fees and low profitability.

"Restaurants don’t have leverage individually, which is why they are so rarely profitable," said Leventhal. Blackbird Pay seeks to streamline payments and enhance diners' experiences by allowing seamless, in-app check settlements, eliminating the hassle of waiting for the bill.

Leventhal’s vision for Blackbird is to create a platform that supports restaurant profitability through integrated rewards and payment solutions. The move could significantly impact how restaurants manage transactions and interact with loyal customers.

photo source / Blockonome