In this episode of the Instant Payments Podcast, host Tal Clark (CEO of Instant Financial) continues his conversation with Kevin O'Bold, VP of Finance at Ultra Steak. They dive deep into the impact of digital tipping, pay-at-the-table technology, and electronic payments on restaurant operations, employee satisfaction, and business efficiency. Kevin shares real-world insights on transitioning from cash to digital, optimizing labor, customizing tip pools, and the future of technology in the hospitality industry. The discussion also covers leadership advice for those aspiring to grow in the restaurant business.

Chapters & Timestamps:

00:00 – Introduction & Welcome Back

00:29 – The Shift to Pay-at-the-Table and Digital Payments

01:55 – Impact of Electronic Tipping: Efficiency & Transparency

04:15 – Employee Experience: Daily Tip Access & Financial Wellbeing

07:15 – Reducing Cash Handling & Courier Service Costs

09:00 – Employee Feedback and Retention Benefits

12:08 – Customizing Tip Pools and Automation

15:01 – Technology Needs: Forecasting, AI, and Labor Optimization

19:10 – Balancing Technology with Human Touch in Hospitality

21:15 – Dynamic Pricing: Opportunities and Challenges

23:45 – Leadership Advice for Restaurant & Hospitality Professionals

26:20 – Closing Thoughts & Where to Learn More