Mobile Payments: The Path for your Restaurant's Success

The age of carrying cash and checkbooks is rapidly evaporating, and mobile payment options are the new, mainstream focus of the restaurant market.

Fifteen years ago, 90 percent of payment transactions at restaurants were made in money. It's now predicted that this season, almost 90 percent of all payments will be made with a debit or credit card.

Is your company equipped to manage such a dramatic shift? Most millennial's and customers are more than happy to go cashless, preferring to pay with their mobile devices or through mobile payment as opposed to via traditional point of sale terminal.

Sources

https://www.connectpos.com/food-drink-retail/

https://www.connectpos.com/omnichannel-retail-pos/

https://www.connectpos.com/ecommerce-integrated-pos-omnichannel/

Here are the top reasons why your restaurant should take advantage of mobile payment solutions:

  1. Convenience and Speed: Clients appreciate quick support. Paying your bill is typically the least enjoyable part of the dining experience. By providing a pay-at-table option, your clients are now able to money out at their leisure, rather than attempting to flag down your wait staff at the center of the lunch or dinner rush to request the bill. 50% of customers prefer this sort of payment option.
  2. Boost sales: Another advantage of a pay-at-table mobile device is the additional advantage of raising the overall bill. Pills in the table can display specials and promotions, and encourage diners to buy add-ons like appetizers and desserts. Upselling has never been so simple!
  3. Line-busting: Have you ever experienced customers walking through your doorway, just to turn around and walk out after they glance at the amount of your line? Do you enjoy waving good-bye to gains and sales? Throughout your peak hours, offer customers more flexibility by providing your employees with mobile tablets, allowing guests to place orders and check out before getting into the counter.
  4. Track customer information : Mobile payments offer you a simple method for restaurant owners to follow the behaviour of their clients. How often do they dine with you? What is the typical check total? Which are the most popular dishes on your menu? This data may be used to provide a more optimal guest experience by tailoring to the tendencies amongst your clients, and may give you some insight into the way to budget your stock.
  5. Save money: lots of mobile payment businesses charge less per transaction than average credit card firms. Oftentimes it's a lot more affordable to use a mobile automobile reader or barcode scanner on your restaurant, as opposed to a credit card terminal, to be able to avoid hefty monthly fees as well as transaction fees. Make certain to research different mobile payment plans to establish the very cost-effective way to conduct your company.
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The Power of Partnerships

If your restaurant POS software is not designed to readily communicate with your other POS integration technology partners, you might be missing out on valuable technical information to push your operations and grow your company. You might be working with the industry-leading tech platforms, but the way they INTERACT with each other is paramount to your success.

So, just what is an Open API? An open API is often known as a public API, which is basically a publicly accessible application program interface which allows multiple kinds of applications to communicate with one another. In the present environment, cloud POS applications is highly regarded because of their open architecture, real time stream, and access to information across your restaurant.

In the current restaurant environment, it's not likely that one technology vendor can fulfill all your needs. Your very best bet is to understand where all your tech touchpoints are and make sure you're working with a POS vendor which could work with them now or is ready to make the investment to develop that connection. These relationships enable operators to look at Loyalty, as an instance, to comprehend guest's behaviour and spending habits; take orders and payment from visitors before they walk in the door; monitor the velocity and high quality of merchandise and keep employees engaged to provide the ideal guest experience.

/must-try-restaurant-growth-hacks-for-2021/

/how-to-choose-between-periodic-and-perpetual-inventory-method/

What tech touch points should each restaurant operator be considering now? Below is a brief list to get you thinking:

  • Payment and Donation Cards
  • Back-Office
  • Loyalty
  • Online/Mobile Ordering
  • Kitchen Video System
  • Reporting
  • Inventory
  • Accounting

What's not on this listing is the next huge thing that we do not even know is coming yet! Voice activated ordering, Artificial Intelligence, cashless restaurants, and much more are only a couple topics which are dominating industry technology talks today. Your customers are demanding, and tomorrow's customers will not be any less so. Setting yourself up with technology that's open, flexible and fast to accommodate is essential.

See also

/tips-choose-best-shipping-provider/

/6-best-bigcommerce-pos-systems-for-2021/

/how-your-pos-can-increase-christmas-sales/

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