Blackbird Labs Launches New Payment Platform: Blackbird Pay

Blackbird Labs, the firm behind the web3 payments app Blackbird, has launched a new payment platform called Blackbird Pay.

Overview of Blackbird Pay

Blackbird Pay is designed as a payment and check settlement network specifically for restaurants, built on the new blockchain named Blackbird Flynet. Restaurants utilizing this platform will incur a 2% fee per transaction, while diners have the option to pay for meals using Blackbird’s reward points, referred to as FLY.

Statement from Leadership

Ben Leventhal, founder and CEO of Blackbird, commented on the industry, stating:

“In the last decade, we’ve seen great advances in restaurant technology, but we have made virtually no progress with payments, which tend to be expensive, cumbersome, and technologically opaque for most restaurants. Blackbird Pay changes all of that and we’re excited to partner with the restaurant industry to forge a new path forward.”

Funding Background

Previously, Blackbird raised $24 million in Series A funding, led by Andreessen Horowitz, in October 2023. The funding round also saw participation from other investors, including QED, Union Square Ventures, Shine, Variant, and more, as reported by The Block.