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.
related posts

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/

Comments

Post a Comment

Popular posts from this blog

Payments, Payment Rails and Blockchains and the Metaverse

  Source: https://www.matthewball.vc/all/metaversepayments The Metaverse was positioned throughout this primer as both a successor state for the mobile internet and a platform that allows humans to enjoy leisure, work, and exist in the larger world.   A thriving economy is key to the success of this vision.   And we know what makes for a thriving economy: competition and a constant cycle of disruption/displacement, a large number of profitable enterprises (especially small-to-medium businesses), capital mobility, strong consumer spending. I have discussed the technologies that contribute to this result in Section VI .   But, I neglected to mention one of the most crucial interchange tools and standards: payments rails and related services.   These technologies allow and manage money flow throughout the economy. They also define the "cost of doing business", for all workers and consumers.   They're already a problem battleground for hegemony within the emerg...
Read more

Faire Launches Brick & Order Podcast for the Retailer Community

Image
Our products: shopify-pos woocommerce-pos commercetools-pos magento-pos bigcommerce-pos Local retail is changing quickly and entrepreneurs that have had the guts to pursue their dreams are currently facing unprecedented challenges to achievement. The great news is, they are not alone. Community is more important than ever before. That is why we're starting Brick & Order , a new podcast out of Faire. Every week, we will bring you inspirational stories from independent retailers within our community, and share tools that will assist you make the appropriate decisions for your company. Brick & Order is here to help you stay nimble in the face of a changing market. Out now, our first installment comes with a strong meeting with Michelle Macey, founder of Beauty Organix , a health and beauty boutique in East Aurora, NY. Michelle is a former Army officer, biochemist by training, and cancer survivor. Four decades back, Michelle opened the doors of Beauty Organix with one aim...
Read more

Faire Partners with SHOPPE BLACK in Support of Black-Owned Firms

Image
SHOPPE BLACK, an internet directory and content platform, was founded in 2015 by Philadelphia-based husband-and-wife group, Tony Lawson and Shantrelle Lewis. What began as a response to customer demand for encouraging Black-owned companies after the shooting of Mike Brown, has now evolved to profiling and sharing thousands of companies and entrepreneurs from New York to Nigeria, all in the name of celebrating Black business excellence. Tony and Shantrelle concentrate on creating and curating content associated with Black business ownership and Black culture in the worldwide diaspora. Five years in the making, SHOPPE BLACK is currently planning to expand into consulting services that will offer Black-owned companies and professionals with access to capital, branding, electronic marketing, and customer experience instruction. Our products: /shopify-pos /woocommerce-pos /commercetools-pos/ /magento-pos bigcommerce-pos We are thrilled to be partnering with SHOPPE BLACK to advance our sha...
Read more