OLO powers online and mobile ordering for more than 150 popular restaurant brands, including Five Guys Burgers and Fries, Cold Stone Creamery and Sonic. It's a convenient way for restaurants to add online ordering capabilities to their websites.
Using a smart phone to order and pay for a meal is still a new concept. Patrons are sometimes hesitant to type their credit card information into their phone each time they check out. This extra step causes abandon rates at checkout skyrocket.
To rectify this problem, OLO wanted to store customer credit card data on file for future purchases. This way, customers wouldn't have to enter their information for each order, thereby increasing conversion rates at checkout.
In order to do this correctly, OLO had to ensure that its Card-on-File solution was fully PCI DSS compliant (Payment Card Industry Data Security Standard) and easy to implement. PCI DSS compliance is a set of requirements designed to ensure that companies process, store and transmit credit card information securely to avoid credit card fraud, hacking and other security breaches.
OLO turned to Braintree to handle its PCI compliant Card-on-File feature. Braintree's technology enabled OLO to obtain merchant account credentials easily and process transactions through an online gateway. With the Braintree vault, restaurants don't have to handle their customers' sensitive credit card data. Instead, Braintree stores that data, eliminating 90% of what is required for the merchant to be PCI compliant. Transactions are also settled daily, improving cash flow for restaurants.
Rather than asking each restaurant to set up its own merchant account, which can be an arduous process and also can expose restaurants to increased recurring monthly fees, OLO can easily take care of the merchant account process during restaurant account set-up.
Restaurants only need to fill out one simple form that allows them to get credentials from a merchant account that can be linked via Braintree. Most restaurants are approved and ready to go in less than 24 hours.
“Braintree has been a true partner in enabling OLO to easily implement and manage a PCI compliant Card-on-File feature for our customers,” said Dave Fellows, vice president of product development for OLO. “Braintree stores all credit card information securely and card details are never stored within the OLO system.”
The Card-on-File feature has been a huge success for OLO to drive recurring sales for their clients. The company reports that customers using Card-on-File order 51 percent more frequently than those who don't.
Braintree has been a great partner in bringing OLO solutions to our toughest challenges, and they offer a lot of flexibility for creating unique solutions for our business. We've grown rapidly since partnering with Braintree.