Velocity is a restaurant payment and lifestyle app that promises diners will never have to wait for another bill. The app makes it possible to view charges incurred in real-time and empowers restaurant-goers to settle the bill at their leisure, while also freeing up the responsibilities of restaurant staff so that their attention can be directed elsewhere.
As well as being a powerful tool for payments, as Velocity's Alex Macdonald describes, "Velocity empowers restaurants to turn the point of payment into a point of engagement as part of their own loyalty programs." On the spot, diners are able to view a collection of their earned loyalty rewards and apply them on the spot to their bill.
The aim of the app is mainly to modernize the hospitality industry, especially for the affluent young Millennials. So far, businesses that have partnered with Velocity reported that diners tend to spend about 14 percent more with the use of this app.