Payfrit

As the influence of cryptocurrencies such as BTC, LTC, ETH continues to grow, we can see that more and more blockchain based technologies are now seeping into every facet of our daily existence.

For example, in recent months there have been many startups that have developed products which are designed to optimize things like event management, online dating, ride sharing etc. Owing to the decentralized nature of the crypto network, these applications are able to deliver their services in a completely fair, unbiased and transparent manner.

What Is Payfrit?

Payfrit is an all new ‘crypto platform’ that is aimed at helping small restaurants maximize their monetary potential. The system claims to “put the power of POS directly into the hands of the customer”.

What this basically means is that customers will now be able to use their smartphones to place orders, rather than having to operate a kiosk or a mounted table tablet. As a result of this, they now have the power to make their selections at their own pace, as well have access to a digitized version of the restaurant's menu.

Payfrit Key Aspects

Faster Service:

Due to the ability of this platform to take instant food orders, it becomes easier to dole out efficient service as the order goes to any waiter that is currently available (as opposed to a system where waiters are designated certain sections of the restaurant).

Chat Feature:

If a person has any queries regarding the menu, they can simply click on the “chat with an employee” button to alleviate their doubts.

Call Server Feature:

As the name suggests, this feature is designed for customers who would like to speak directly with an employee.

Separate Checks:

Through the use of the Payfrit RMS, all guest checks are made separate by default. However, if needed, they can be combined into one entity.

How Does Payfrit Work?

  • Once we arrive at a restaurant, each person at the table is required to open the PayFrit app and then browse through the menu.
  • After everyone has decided as to what they want to eat, they can simply click on the desired dishes and make their selection. This process is smooth, and it allows users to take their time.
  • Once all individual orders have been placed, the final order is displayed to each Payfrit user via a virtual cart. During the time of payment, checks can either be maintained separately, or combined depending upon what the situation demands.

Payfrit Features

Order Remotely:

In case a member of our crew is running late, he/she can be sent a mobile invite, using which they can make their food selection from wherever they may be.

Reservations:

The app can even be used to make future reservations through the click of a button. Not only that, Payfrit customers can also request for a cab pickup, to and from the restaurant via the app.

Shorter Waiting Periods:

As is clear from the information provided above, Payfrit uses a model that allows for faster customer service. It does so by initiating any server who is free at the moment of an order being placed, thereby maximizing workforce potential, and cutting out added employee expenses.

Balanced Compensation:

Through the use of its native RMS, this platform allows for “Activity Based Compensation” which results in restaurant staff being directly rewarded for being more efficient. As and when team members complete tasks, they can earn bonuses on the basis of completing their scheduled activities on time.

Employee Efficiency Tracking:

Another aspect which Payfrit claims to address is that of employee workrate. Since employees are now paid “directly based on their contribution, inefficient employees eventually drop off via standard attrition”.

Payfrit Token Details

According to the company’s official whitepaper, they are planning to create a total of 21,000,000 tokens, out of which 500,000 tokens were offered during the pre-sale. The presale has however ended.

The rest of the tokens will be available during the regular crowdsale, that will go on for a period of 12 months after the Pre ICO. During this period there will be an additional 650,000 tokens available, all of whom will be priced at $15.00 per PY (native currency).

Fund Allocation And Distribution Model:

According to the company’s official statement, the distribution of funds will be done as follows:

  • 30% of all revenue will go towards paying employee salaries, and covering for marketing costs.
  • 50% revenue will go towards employee sales
  • All extra proceeds raised will be used to create a reserve fund which will allow users to provide credit to customers as described previously.

For any other queries regarding the platform or the ICO, users can get in touch with company employees via the email address provided on the website.

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