Priority Commercial Payments Announces Strategic Partnership with Restaurant365
Priority Commercial Payments, a division of Priority Technology Holdings, Inc. (NASDAQ: “PRTH”), is pleased to announce the formation of a strategic partnership with Restaurant365, a leading provider of Cloud-based back office and accounting software for the restaurant industry.
The strategic partnership between the two enterprises will enable Restaurant365 to offer AP (Accounts Payable) Automation solutions to its client base; streamlining approximately $6 billion in annual transaction volumes and enhancing restaurants’ business relationships with their Vendors. In addition to automating vendor-side payments, Priority will enable Restaurant365 to offer other value-adds, such as corporate purchasing cards for non-AP expenses and prepaid cards for payment of employee gratuities.
“This is a great example how an agile payments technology company creates game-changing results,” said Cindy O’Neill, President of Priority Commercial Payments. “We couldn’t be more excited to begin this partnership with Restaurant365, as the efficiencies we create for restaurant operators will allow them to focus on what they do best: entertaining and serving their guests.”
“Restaurant365 continues to transform the industry by leading the way with innovative solutions. This new venture is an exciting example of our continued commitment to provide restaurants with the best productivity solutions possible, and we’re confident in this partnership with Priority Commercial Payments because they are committed to the same,” said Tony Smith, Co-founder and CEO.
About Priority Technology Holdings Inc.
Priority Technology Holdings, Inc. is a leading provider of commercial payment and merchant acquiring solutions, offering unique products and service capabilities to its merchant network and distribution partners. The enterprise operates from a purpose-built business platform that includes tailored customer service offerings and bespoke technology development, allowing it to provide end-to-end solutions for payment and payment-adjacent opportunities. Headquartered in Alpharetta, GA, Priority has approximately 520 employees and is led by an experienced team of payment technology executives.
Restaurant accounting is the cornerstone of Restaurant365 Software’s cloud-based, all-inclusive back office solution. Restaurant365 was founded by an experienced team of software veterans committed to developing an accounting, back office and reporting tool – specifically for restaurants – that scales and positions restaurant concepts for growth. The Restaurant365 connectors and open APIs truly enable the platform to talk with other systems including POS providers, payroll processors, vendors and banks. In January 2018, Restaurant365 closed $20 million in Series A financing within the minority investment from Bessemer Venture Partners, which will be used to expand the team and accelerate development. Restaurant365 has offices in Irvine, California and Austin, Texas. For more information, please visit http://www.Restaurant365.com.