Dojo Payments: Making the Holiday Season more profitable for the hospitality sector

Dojo Payments: Making the Holiday Season more profitable for the hospitality sector

The holiday season is typically a busy and lucrative time for bars and restaurants in . However, Christmas 2023 presented a unique challenge as many establishments experienced a decrease in business compared to previous years. This resulted in some places, particularly those in coastal areas, even closing early between Christmas Day and New Year's Eve.

The impact on cashflow during this period was significant, as most merchant services providers do not make settlements during holidays and weekends. However, Dojo Payments, a fintech company specializing in the hospitality sector, emerged as a game-changer. By providing daily payments, including on Christmas Day and Boxing Day, Dojo Payments made a massive difference to both small independent businesses and large enterprises in the hospitality industry.

The Challenge of Cashflow during the Holiday Season:

During the holiday season, bars and restaurants rely heavily on increased footfall and customer spending. However, Christmas 2023 saw a decline in business in many areas of the UK versus previous years, leading to reduced cashflow for many establishments. This was further exacerbated by the fact that most merchant services providers do not process settlements during holidays and weekends. As a result, businesses in the hospitality industry faced a five-day period without payment, which could have had a detrimental impact on their financial stability.

Dojo Payments:

Dojo Payments recognizes the cashflow challenges faced by the hospitality industry during the holiday season. As a fintech company specializing in this sector, By offering daily payments, including on traditionally non-settlement days like Christmas Day and Boxing Day, Dojo Payments ensured that businesses received a consistent cashflow throughout the holiday period.

Benefits for Small Independent Businesses:

Small independent businesses in the hospitality industry often operate on tight budgets and rely heavily on consistent cashflow to cover expenses and manage their operations. Dojo Payments provided these businesses with a lifeline during the holiday season. By receiving payments every single day, including holidays, small independent businesses were able to maintain their financial stability and meet their financial obligations without interruption.

Advantages for Large Enterprise Businesses:

Large enterprise businesses in the hospitality industry also faced cashflow challenges during the holiday season. However, the impact of a five-day period without payment could be even more significant for these establishments due to their higher operational costs. Dojo Payments ensured that large enterprise businesses had access to funds throughout the holiday season, allowing them to manage their cashflow effectively and continue providing high-quality services to their customers.

Boosting the Industry's Resilience:

The introduction of Dojo Payments has had a profound impact on the resilience of the hospitality industry as a whole. By addressing the cashflow challenges faced during the holiday season, Dojo Payments has helped businesses weather difficult periods and maintain financial stability. This, in turn, has contributed to the overall growth and sustainability of the industry, benefiting both businesses and customers.