Category: Product and Company News

Yes, we closed our Series A — and we’re really excited about it. But before we dig into the big news, we want to provide a little context…

Kickfin was founded to solve a really big problem for hospitality. A problem that, until very recently, most employers considered a necessary evil. 

Cash tip payouts just don’t work for hospitality teams — at least, not anymore. It’s the ultimate square peg in a round hole: Restaurants have automated everything else, yet over 90% of outlets have continued to pay out cash tips. Back when Kickfin was just an idea, operators often told us, “This is just how we’ve always done it. It’s hard, but there isn’t a better way.”

So: we built a better way. 

Over the past few years, we’ve helped thousands of restaurant teams hit the reset button on cash tip payouts — offering them a simple, seamless way to digitize the most analog aspect of their operations.

And while we love uncovering new efficiencies and removing operational burdens (who doesn’t?) — the most meaningful part of our work has been seeing how Kickfin makes life easier for service industry workers across the country. Those frontline, essential employees need and deserve real-time, unfettered access to their earnings — and with Kickfin, that’s exactly what they get.

Closing our Series A is an incredible milestone for Kickfin. It’s certainly taken a lot of hard work to get here, and we’re proud of what our team has accomplished. 

But mostly, we’re excited about what this means for our current and future customers, and for our industry as a whole. Through our partnership with Silverton Partners and Acronym Venture Capital, we’ve got the platform and firepower we need to reach new markets, innovate like never before, and truly change the way hospitality pays their employees, for the better.

Bottom line: We’ve come a long way, but we’re just getting started — and we’re grateful to every customer, partner, and employee for coming along for the ride. 

Big news: Visa and Kickfin are teaming up!

Kickfin has been validated as the largest tip disbursement enabler in the U.S. — so it only makes sense that we’d partner with Visa, the world leader in digital payments.

As our customers know well, the combined technology of Kickfin and Visa Direct enables hospitality employers to send real-time, cashless tip payouts directly to their employees’ bank of choice.

That means everyone — from nationwide, enterprise brands to franchisees to mom-and-pops — can enable a secure, compliant (and cashless!) tipping program that gives your people exactly what they want. 

Simply put: Kickfin’s collaboration with Visa Direct is a testament to the need for cashless tipping — and the impact that real-time tip payouts can have on front-line, essential service workers across the country.

Read the full press release below. (And if you’re ready to enable a secure, compliant, cashless tipping program across your org? You know where to find us!)

The hospitality industry is more digitized and automated than ever before. And that’s a great thing — because the right solutions can save crazy amounts of time, cut costs, and generally make everyone’s life a whole lot easier. 

But with new technology comes new best practices, especially when it comes to cybersecurity.

Kickfin, like many other software companies, keeps this top of mind. Our product team has built a platform that takes security insanely seriously — in fact, it’s our number-one priority.

And on the Customer Success side, we do everything in our power to ensure Kickfin users are trained to recognize and avoid any potential risks before they ever log in to the platform.

Of course, some of those things are easy to forget even for the most tech-savvy customer — especially when you’re short-staffed and over-booked. But to make things more challenging: best practices are always evolving.

That’s why, periodically, we recommend customers assess the overall strength of their cybersecurity to help prevent any unwanted threats to their businesses. Below is a rundown of the most important and effective ways that Kickfin users can protect themselves and their companies from cybersecurity threats. 

(Keep in mind: these are coming from your friends at Kickfin, but most apply to any software solution or platform that’s linked to personal, financial or otherwise sensitive information.)

Why should I care about cybersecurity?

According to a report by Cisco Systems, phishing accounted for the second most common threat against business. It’s “popular due to its simplicity and effectiveness…, accounting for 90% of data breaches.” 

Typically, with phishing, a perpetrator will:

• Target your end users, bypassing any system-based protections you have in place.
• Contact your users via email, though some phishing attacks also occur by phone.
• Try to get access to your system by getting your end users to provide a password or to click on a link that will install malicious software on your computer systems.

Phishing scams can generally happen to anyone or on any software platform, regardless of how airtight the security mechanisms are. In many ways, it’s like a thief gaining access to a safe. They’re not breaking into it; they’re tricking the owner into opening it for them.

The Tech Support Phishing scam is on the rise – and one that we think you are most likely to see in the hospitality industry. As recently as October 2022, the FBI issued a warning to business regarding scammers targeting financial accounts by claiming to be customer or tech support representatives from tech companies. One key method they employ is the installation of remote desktop software on the victims’s computer in order to gain control of the computer and, ultimately, of the financial accounts. In 2021, there was $347 million in losses due to tech support scams, impacting almost 24,000 victims.

Fortunately, there are several things you can do to ensure this doesn’t happen.

How to protect your restaurant from cybersecurity threats

At the end of the day, you really can’t control whether you’re the target of a phishing scam — but you can control how you react and whether they’re successful. As always, knowledge is power. 

Here’s how to ensure phishers aren’t given the “keys to your safe,” so to speak.

1. Use the principle of least leverage

Only give users the absolute minimal access they need to do their jobs. Again, that goes for any software you’re using, but within Kickfin, there are four user roles with varying privileges: 

• Org Admin: Has access to all locations in the organization; can add/edit/delete users and make payments at any of the locations. We recommend that the number of org admins be kept to the bare minimum of who needs access.
• Site Admin: Has access only to those worksites to which they are assigned; can add/edit/delete users and make payments at those locations.  We recommend that the number of site admins be kept to the bare minimum of who needs access.
• Manager: Has access only to those worksites to which they are assigned; can only make payments at those locations; cannot add/edit/delete users.
• Employees: can only receive payments from those worksites to which they are assigned. They have no access to the administrative areas of Kickfin. Most of your staff should be in the Employee role.

Again (just for the folks in the back!): the majority of your staff should not have Org Admin, Site Admin, or Manager privileges.

2. Educate your staff on proper password management.

Many people are well aware of proper password management, but it’s easy for anyone to get complacent, especially if you’ve never before been the target of a phishing scam. Top things to know about password security:

• Kickfin will never call you and ask for your password. Legitimate service providers will not ask you for your password to assist you with their system.  This is a common tactic of phishing scam artists in order to gain access to your accounts.
• Do not share your password with anyone. (Ever.) Managers should not share their passwords with others in the organization, and we do not recommend using a generic login (such as generalmanager@restaurant.com).
• Passwords should be unique to the individual. Make it something you can remember, but that is not easy to guess. They should not include any commonly used catch-phrases or mottos belonging to your organization.
• Passwords should contain multiple character types. Consider using numbers and symbols to replace letters in a word, for example D3liciou$Eats! 
• Use a passphrase instead of a password. A long phrase (the longer the better!) is much more difficult to crack, such as !tal!an Food !$ my Favor!t3
• Do not use the same password for multiple systems. If your password is compromised, you can limit the harm caused by only using it for one system.
• Do not make your password accessible. For example: do not write the password on a post-it note stuck to the monitor or under the keyboard or mousepad.
• Consider a password generator. Your team may want to consider using automatic password generators that are available through most operating systems, or using a password manager that will generate a site-specific password that is randomly generated and virtually impossible to guess.

3. Clean up your user list.

Remove any employees (particularly Admins and Managers) who are no longer with your organization.  Make sure everyone has the right role for their job (see #1 above!).

4. Take extra steps to protect shared computers.

If your team members are using a shared computer, encourage your users to log out of important systems and applications each time they step away from the computer to avoid someone using their account session for illicit purposes.

5. Educate your staff on how to avoid phishing scams and social engineering hacks.

Provide them with training on common phishing and social engineering techniques, how to avoid them, and how to respond to them.

6. Develop a cybersecurity action plan.

Know who to contact in the event of a breach and how best to protect your business.  Make sure all managers know your company’s protocol for reporting an incident should one occur.

What to do if you’re the victim of a phishing scam

Chances are, you’re already doing a lot of things right.

If you, an employee or your business becomes a victim of a phishing scam, please do the following:

• If it involves your Kickfin account, notify our support team immediately. We can help minimize the loss and help you recover your account.
• Report the incident to your local law enforcement agency, the FBI’s Internet Crime Complaint Center at www.ic3.gov, and FTC’s Report Fraud site at www.reportfraud.ftc.gov
• Make sure all passwords are updated with new passwords that include letters, numbers and symbols.
• Scan your computer to make sure any malicious or unknown software has been removed.

And as always, we’re here to help. If you’d like a security review of your account, please contact us at support@kickfin.com.  We’ll work with you to ensure that all your users are in the appropriate role for their needed level of access.

New look, same great tech. (But better.)

In case you haven’t heard: this summer, Kickfin is bringing the heat. We’re rolling out Kickfin 2.0 to all of our existing customers — and all new customers will be directly onboarded to the new version.

(Don’t have Kickfin yet? There’s never been a better time to sign )

Almost every person at Kickfin, at some point in their careers, has worked in or for the hospitality industry.

Which is why it’s been incredibly rewarding — and if we’re being honest, a little mind-blowing! — to see how a simple solution like Kickfin has solved such a huge problem for restaurant teams. But we believe it’s always possible to make something great even better.

So, since day one, we’ve made it a point to do a lot of listening. We’ve talked to countless restaurant teams. We’ve observed their operations and felt their pain points. We’ve analyzed user data (sooo much data!) and drawn some powerful insights.

We took all of that information to heart — and poured everything we learned back into our product.

Long story short: everything you love about Kickfin is staying the same, but we’re making it more automated, more flexible and easier to use than ever before.

Read on to see what’s new in Kickfin 2.0, or scroll down to see the video!

First: Here’s what’s not changing.

Kickfin is the same instant, cashless tip payment tool that thousands of restaurant teams across the country rely on day in, day out. Tip payments will always go straight to your employees’ bank accounts — no matter where they bank! — the second their shifts end, 24/7/365.

Other things that aren’t changing (we promise!):

• No hardware required
• No contracts, ever
• No set-up fees
• …and pricing is the same as it’s always been.

Now, for the updates and upgrades (drumroll, please):

Aside from looking pretty dang sleek (if we do say so ourselves!), Kickfin 2.0 is going to make account management even more intuitive for you and your employees, and the payment process now has added layers of visibility, cleaner reporting, and a whole lot more…