The fork launches its tabletop payment application

The Fork, owned by the Trip Advisor group, is going to offer a payment solution at the table via a QR code system. This system set up by the Big Mama restaurant chain under the brand name Sunday is currently enjoying great success and is overshadowing its competitors.

FACTS

• The former French start-up, specialising in online restaurant reviews and reservations, is celebrating its 15th anniversary this year. The platform was acquired in 2014 by TripAdvisor. It is now present in a dozen countries and works with 60,000 restaurants.

• Last year, it began to deploy TheFork Pay, a contactless payment solution integrated into its mobile application. It is now launching payment at the table via a QR Code.

• By the end of June, 200 restaurants will offer the service in three countries (France, Italy and Spain) that already have access to TheFork Pay. It is aiming for 1,000 restaurants by the end of the year.

• In 2023, the company will implement its solutions more widely in Europe.

CHALLENGES

• Facing a very dynamic competitor... Sunday, which launched last year by raising significant funds, has also positioned itself in QR code payment. At the end of March, the start-up claimed to have signed up 5,000 restaurants worldwide.

• ...which means strengthening the teams: The Fork plans to create 400 positions, including 200 developers, between now and 2023 to meet the accelerating needs.

• And diversifying its offer: As another way of expanding its services, it is speeding up the development of its gift card, which, alongside its digital version, will soon also exist physically in France.

MARKET PERSPECTIVE

•  In the continuity of its development in integrated payment, TheFork is working on several new features for the future.

• . The first, "eat now pay later", TheFork gives credit to the customer, to take advantage of the boom in this new practice and extend it to new services.

• The second is to offer loans to restaurant owners to finance their investments and encourage them to expand or improve their business.