Blackbird Labs, founded by Ben Leventhal, has launched a new Web3 payments platform called Blackbird Pay, specifically designed for restaurants.

This innovative platform operates on Blackbird's blockchain network, known as Blackbird Flynet, which aims to tackle the margin issues faced by restaurants.

Restaurants using Blackbird Pay benefit from significantly lower transaction fees, incurring a flat rate of 2% compared to traditional credit card fees that can reach up to 4%.

Roni Mazumdar of Unapologetic Foods highlighted that services like Blackbird Pay could save restaurants substantial amounts in processing fees.

Leventhal envisions Blackbird as a solution to improve operating margins for restaurants by focusing on rewards and payments.

The platform allows diners to pay using various methods, including credit/debit cards, the native $FLY cryptocurrency, or US Dollar Coin (USDC), which can be earned as loyalty points.

Blackbird Pay enhances the dining experience by enabling customers to pay through the app at any time, eliminating the need to wait for the check.

The app features a Guest Value Score, allowing restaurants to create tailored rewards programs for their customers.

Additionally, Blackbird is developing applications to drive traffic to restaurants during slower periods.

The company secured $24 million in Series A funding led by Andreessen Horowitz, with notable partner restaurants in major cities.

As the National Restaurant Association projects U.S. restaurant sales to surpass $1 trillion in 2024, Blackbird Pay positions itself to capitalize on this growth.

Leventhal has noted the lack of advancements in restaurant payment technologies over the last decade, emphasizing the need for innovation in this space.