American Express will acquire ResTech Tock and Rooam suppliers

American Express announced agreements to acquire two technology providers – Tock and Rooam – to expand its suite of digital tools for restaurants and merchants.

Both transactions are subject to customary closing conditions, and the acquisition of Tock is also subject to regulatory approval, American Express said in a Friday (June 21) news release.

The acquisitions will build on the dining benefits, exclusive access and special experiences the company offers its cardholders through its Resy and Global Dining Access by Resy digital dining platforms, Howard Grosfield, president of U.S. consumer services at American Express, said in the release.

“Now we can connect even more premium customers to the most exciting restaurants, while providing retailers and restaurants with more technology to help their businesses thrive,” Grosfield said. “We will be able to offer restaurants tools to provide more personalized hospitality, make it easier to use pre-paid services such as tasting menus, and provide customers with more convenient ways to pay their bills.”

According to the release, Tock, a provider of technology for managing reservations, tables and events, was launched in 2014 and acquired by Squarespace in 2021. Its tools are currently used by 7,000 restaurants, wineries and other venues where you can book reservation.

According to the release, by acquiring Tock, American Express will add the restaurant chain and product suite to its own restaurant platform.

Founded in 2015, Rooam offers technology that powers mobile payments, ordering and integration with point-of-sale, marketing and loyalty systems used by restaurants, bars, stadiums and arenas.

The addition of Rooam’s proprietary products will expand American Express’s mobile ordering and payment capabilities and deepen collaborations in sports, music and entertainment, the release said.

“These acquisitions will enhance our dining platform and help us continue to support the industry’s growth,” Pablo Rivero, vice president of American Express Global Dining and CEO of Resy, said in the release.

PYMNTS Intelligence found that e-commerce is top of mind for many hospitality companies.

According to the report “Main Street Health Q3 2023: Leading Payment Processors Satisfy SMBs, but Less Popular Providers Are Vulnerable,” two-thirds of companies in the food, entertainment and lodging sectors said they believe it is very important for payment processors to offer eCommerce integrations.” , a collaboration between PYMNTS intelligence and Enigma.

To read all about PYMNTS’ digital transformation, sign up for the daily Digital Transformation newsletter.