On February 27, 2018, Pizza Hut announced the launch of Mastercard’s (MA) Qkr! platform beginning March 19, 2018. This platform will be launched in UK restaurants. This facility allows customers to save time by paying with mobile phones.
With the help of Mastercard’s Qkr!, consumers can easily order food through smartphones. This platform also makes it easy to split bills and make payments.
Mastercard’s total-debt-to-EBITDA (earnings before interest, tax, depreciation, and amortization) stood at 0.73x. Peers (XLF) First Data (FDC), Total System Services (TSS), and American Express (AXP) posted total-debt-to-EBITDA of 6.83x, 2.76x, and 14.42x, respectively, on an LTM basis.
According to Pizza Hut’s top management, this step will be a valuable contributor to the company’s innovation. Pizza Hut has deployed a substantial amount of money over the past years to make the consumer experience better. Mastercard believes this platform will help Pizza Hut boost customers.
Qkr! also provides tools for restaurants to manage delivery and take-out services and offer customer reward programs.