The Advent of a Tipping Revolution
Strikepay, a pioneering cashless tipping platform born amid the COVID-19 pandemic in Ireland, is now setting its sights on expanding its successful model to the UK. Oliver Cavanagh, the co-founder and chief executive of Strikepay, emphasizes that the platform’s emergence directly responded to the new cashless society norms brought about by the pandemic. The service began as a quick solution to the sudden absence of cash tipping and has grown into a substantial financial player, operating across 33,000 locations in Ireland and the UK and processing over €10 million in transactions.
Booming Business and Compliance with New Laws
The platform’s business has grown threefold post-pandemic, indicating a strong market preference for cashless transactions. Strike pay isn’t just easing the way for customers to tip; it’s also aiding businesses in adhering to new tipping laws. With the introduction of these laws in December 2022, the platform saw a surge in users, adding 3,000 new accounts in the week before the legislation. Customers conveniently tip through QR codes or NFC tags, with the majority choosing to cover the additional transaction fee, showing a willing adaptation to the new method of tipping.
Future Aspirations and Achievements
Under Cavanagh’s leadership, Strikepay is not resting on its laurels. After turning profitable in 2023, significantly ahead of its targets, and acquiring Belfast-based Gratsi in 2021, Strikepay is poised for further expansion. Despite turning down acquisition offers, the company is ambitious about continuing its growth and maintaining its status as a leader in the cashless tipping industry. As the world adapts to fewer physical transactions, Strikepay’s vision is clear: lead the charge in the evolution of tipping and payment solutions.
