Since Foodbomb launched in late 2017, our core focus has been to simplify wholesale ordering for hospitality venues and drive greater back of house efficiencies. We enable venues to source the best suppliers, manage their pricing, automate their accounting and consolidate all their orders for all their suppliers saving them both time and money.
The hospitality industry has been one of the most affected by the pandemic but on Feb 18, when the NSW and VIC density limits were wound back and dancing was allowed in NSW, Apple’s mobility data showed its highest level of movement since the pandemic started suggesting patrons are getting out and about. Consumer spending is also increasing, however, as government support got pulled back in late 2021, many venues are finding their cash reserves depleted - making it hard to manage their cash flow and buy additional supplies.
In the past, foodservice suppliers would provide venues with a trade account so cash flow wouldn’t be as much of a problem, however, the pandemic has seen suppliers shifting 90%+ of their customers from trade accounts to paying on delivery (POD) using credit and debit cards, making the road to recovery bumpier for some venues due to less access to credit.
To support our venues even further, we are proud to announce the launch of BombPay, a buy now pay later product, designed specifically for hospitality venues and it’s available for all eligible Foodbomb venues. We’re digitising the traditional trade account and making it accessible in an instant. Instead of completing one application for each supplier, which was cumbersome and take up to four weeks, venues just have to complete one short digital credit application with approval within 24-48 hours.
There are no fees (zero!) and once approved, venues can order from any of our 150+ suppliers across 19 different categories. For venues using our accounting software integrations, the addition of BombPay will make managing payments to all their suppliers a simple set and forget, as both systems work in conjunction seamlessly.
Venue owners didn't start their businesses to worry about chasing down orders, price hikes, and certainly not getting bogged down in paperwork managing accounts & payments. The good news is that they longer need to. Venue owners, managers and chefs can have peace of mind that Foodbomb is taking care of all that for them.
Whether you need access to additional cash for a new kitchen appliance or simply just need a cash injection, BombPay offers your business six key benefits:
1. One digital application for all your Foodbomb suppliers. no more lengthy paper applications that often get lost and take forever to be approved.
2. You’ll be up and running in 24-48 hours.
3. You get 21 days of credit across all your suppliers, putting you in control of your cash flow to order the things you need.
4. It’s completely free! When you pay with a credit or debit card you’re often hit with a transaction fee, plus if you don’t pay on time you’re hit with 20%+ interest rates. With BombPay there are no setup, payment or late fees. We say f**k fees.
5. BombPay works seamlessly alongside your preferred accounting software with automatic reconciliation and invoices via Foodbomb’s smart accounting integrations tool. Saving you time to do the thighs you really like.
6. Using it is as easy as cracking an egg. At checkout it appears as a standard payment option, you simply just choose that and checkout as normal and the rest is a piece of cake.
Already using Foodbomb and keen to learn more about BombPay & our other integrations?
Simply reach out to your Foodbomb Growth Manager for more information and to see how you can take advantage of these features.
Foodbomb is the smarter ordering solution for food service. Order everything you need in one place, find the right suppliers and get full control of your COGSTell me more