PayBright Boosts Hospitality Tech with Strategic Investment in POS Software Innovator Figure

PayBright, a leading merchant services provider, has recently made headlines with its strategic investment in Figure, an innovative point-of-sale (POS) software solutions provider. This partnership marks a significant milestone, as PayBright becomes Figure’s largest investor and exclusive payment processing partner. The collaboration is poised to enhance Figure’s market reach through PayBright’s expansive network of over 800 merchant services agents, independent sales organizations (ISOs), and brokers.

Overview of the PayBright and Figure Partnership

While the financial details of this investment remain undisclosed, the implications are substantial. The partnership aims to leverage PayBright’s extensive national network to boost Figure’s growth and bolster its presence in the market.

Transforming Point-of-Sale Solutions

Figure offers a robust cloud-based POS platform tailored for restaurants and small businesses. This technology extends beyond simple payment processing, providing businesses with:

• Detailed insights and reporting tools: Helping to optimize operations.
• Customizable menu settings: Allowing businesses to tailor their offerings.
• Management tools: Facilitating customer and employee management.

Leadership Insights on the Investment

Dustin Magaziner, founder and CEO of PayBright, expressed enthusiasm about the investment, stating, “After years of working together, we are thrilled to announce PayBright’s official investment in Figure. This partnership aligns perfectly with our mission to support quick and full-service restaurants, along with small business owners.” He emphasized that Figure has already become one of their best-selling POS products.

Future Prospects for Growth

Figure’s CEO, Jin Woo Park, shared his vision for the partnership, anticipating a remarkable growth trajectory. He stated, “With PayBright’s investment and the dedication of their independent agents, we expect to achieve over 500% year-over-year growth in partnership sales, significantly impacting the hospitality industry this year.”

Park further noted, “Figure has always been focused on developing the best technology solutions for restaurants and small businesses, and with PayBright as a committed partner, we can continue to innovate and meet their specific needs.”

This strategic alliance not only enhances the capabilities of both companies but also sets a new standard for POS solutions in the hospitality sector.

For more information on merchant services and the latest trends in point-of-sale solutions, visit our merchant services page or check out Forbes’ insights on merchant services.