Customer Stories
"We kept running into etransfer limits from the bank."
"In the hospitality industry, it is critical to pay bills on time and keep suppliers happy. With Jetpay, we can pay any amount right away without running into transfer limits or restrictions — it's a win-win." — Erin Savory, Investor Relations, Boom & Batten
Streamlining payment standards in the hospitality industry.
Located on the beautiful Victoria harbour waterfront, Boom & Batten offers a locally-based casual and fine dining experience inspired by the pacific northwest. Behind the scenes of the restaurant, cafe and bar, Erin is the office manager in charge of the business's accounts payable and maintaining strong supplier relationships.
The hospitality industry is hectic and competitive. Daily operations leave no room for unnecessary admin work or time to wait for a cheque to arrive in the mail. Yet, most restaurants still rely on slow, outdated payment methods like cheques to process large bills on the back-end. Jetpay saves Erin countless trips to the mailbox and keeps her suppliers happy.
Payments without limits
"I kept getting stuck with daily and weekly e-Transfer limits."
Before Jetpay, Erin tried to switch from sending cheques to e-Transfers through the bank. The problem was that their suppliers' monthly bills usually exceed the daily e-Transfer limit of $3,000 — forcing her to split payments into multiple transfers or delay them. Switching to credit cards was not an option, knowing the high percentage fees of card processing are one of the most significant expenses in the restaurant industry. With Jetpay, Erin doesn't worry about transfer limits or percentage fees anymore.
"We love that we can pay right away and our suppliers love us for it."
The request for faster payments came from Boom & Batten's suppliers. With Jetpay, Erin can send payments to suppliers' email addresses as soon as she receives the invoice. For suppliers, it is easy to accept the payment and deposit the money right into their bank account. Thanks to real-time tracking and automated status updates, both Erin and her suppliers know exactly what's going on with their money.
"It frees up so much time on the back-end."
Boom & Batten's bookkeeper used to spend hours every month writing and printing cheques for payables, which Erin then had to sign and physically bring to the mailbox. Now, Erin sends payments in one simple step online. Reconciliation is straightforward too — Erin adds the supplier's name in the customizable bank statement descriptor, making it simple for the bookkeeper to match and reconcile payments with the bank.
