6.28.2024
TipHaus, a leading provider of tip management solutions, has partnered with Visa to enable service industry employers to facilitate cashless tip payouts to restaurant employees’ bank accounts in real-time.
Through the collaboration, TipHaus will leverage VISA Direct, Visa’s real-time money movement network, to streamline and enhance the process of tip disbursement for restaurants and other service industry establishments. With TipHaus’ innovative platform and Visa’s robust payment infrastructure, employers can seamlessly digitize tip payouts, providing employees with immediate access to their earnings.
In today’s digital age, the prevalence of credit cards and digital transactions has made it increasingly challenging for employers to distribute tips in cash at the end of each shift. By digitizing tip payouts and delivering them directly to employees’ bank accounts in real-time, TipHaus and Visa are addressing this critical need while prioritizing the financial well-being of service industry workers.
“The collaboration between TipHaus and Visa represents a significant milestone in our mission to revolutionize tip management in the service industry,” said Leif Magnuson, CEO and co-founder of TipHaus. “By harnessing the power of Visa Direct, we are empowering employers to provide their employees with fast and convenient access to their earnings, ultimately enhancing employee satisfaction and retention.”
In addition to streamlining tip payouts, TipHaus offers comprehensive solutions to address the operational, recruiting, and compliance needs of modern hospitality employers. With a focus on sustainability and efficiency, TipHaus is committed to continuing to drive positive transformation within the service industry.
“We are excited to collaborate with Visa to transform the service industry and improve the lives of frontline workers,” added Leif. “Together, TipHaus and Visa are pioneering real-time tip payouts, setting a new standard for operational excellence and employee empowerment.”
For Visa, this partnership represents a continuation of its commitment to innovation and cybersecurity in digital transactions. As digital payment methods become increasingly prevalent, Visa remains dedicated to enhancing security and protecting consumers’ financial information.
“We are excited to be giving service industry workers fast access to their hard-earned money in a world that is increasingly digital,” said Yanilsa Gonzalez-Ore, Head of Money Movement Solutions, North America. “Through collaborations like this, TipHaus and Visa Direct are delivering innovative and flexible solutions that employers and their staff really value.”
TipHaus and Visa are dedicated to driving positive change within the service industry and empowering employers to provide their employees with the financial security and flexibility they deserve.
With over 100,000 employees at TipHaus-utilized restaurants benefiting, TipHaus’s comprehensive platform offers restaurants and the service industry transparent, reliable, and efficient tip management. TipHaus’ software eliminates manual errors and discrepancies, ensuring compliance with all legal requirements regarding tip management. With a focus on streamlining tipping processes and fostering trust, TipHaus’s robust software revolutionizes how tips are calculated, managed, and paid out, ensuring fairness and accuracy for all stakeholders.
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