FORMER VICE PRESIDENT OF FLUTTERWAVE INTRODUCES MIRA, AN INNOVATIVE APPROACH TO DINING AND PAYMENT EXPERIENCE IN RESTAURANTS.
Streamlining the tedious process of ordering and paying for meals is a primary objective for Mira, a fintech startup founded by Ted Oladele, formerly the VP of design and innovation at Flutterwave.
Mira’s QR code payment system aims to revolutionize the dining experience by enabling instant payment, potentially minimizing wait times and introducing predictability to the process. With Mira, customers can simply scan a QR code, review their personalized bill, and promptly pay through bank transfer, Apple Pay, or card.
Initiated in 2022, Mira’s inception was fueled by Oladele’s dissatisfaction with the traditional routine of navigating paper menus, waiting for service, and encountering limited payment choices. The vision for Mira extends beyond just expediting the ordering process; it aspires to be a comprehensive point-of-sale solution, enhancing the overall dining experience for both restaurants and patrons. Mira envisions a world where users can effortlessly browse digital menus, place orders, and even split bills – all from their mobile devices.
Claiming to have successfully onboarded over 100 restaurants in Lagos, Mira implements an annual subscription fee of ₦15,000 along with a 2% charge per processed order. The startup secured $200,000 in funding through a family and friends round and has already processed transactions totaling $60,000.
Distinguishing itself in a competitive market dominated by established players like Paystack and Flutterwave requires Mira to articulate a clear value proposition. While the startup boasts transparent and competitive pricing with a 2% processing fee and an affordable subscription model, efficiently scaling this approach demands a careful balance between maintaining affordability and ensuring profitability. Furthermore, persuading restaurants to transition from entrenched systems necessitates robust marketing and outreach strategies. Oladele expresses the company’s optimism about scaling up and aims to onboard major restaurants across Lagos.
According to Oladele, Mira’s solution not only enhances profit margins for businesses but also provides a payment tracking feature to facilitate seamless account reconciliation.
News Source: Faith Omoniyi from Tech Cabal
