When I read this article, it screamed Priceline to me. Its essentially doing the same thing that Priceline does for the travel industry. Its asking customers to select a deal or 'bid' on a deal and then uses that knowledge to close the deal with the restaurants. Like Priceline, Loopt will already have the credit card info and I am guessing the customer will be charged automatically.
The key here is timing. Its easier for Priceline to check on the bids with airlines because most of the airline systems support rapid data transfer. In the case of restaurants, it is difficult to predict and build a automated way to get 'approvals'. Therefore, the time it takes for them to get answer back from the restaurant will determine the success of uDeal.
The key here is timing. Its easier for Priceline to check on the bids with airlines because most of the airline systems support rapid data transfer. In the case of restaurants, it is difficult to predict and build a automated way to get 'approvals'. Therefore, the time it takes for them to get answer back from the restaurant will determine the success of uDeal.