With the transition and shift towards a cashless society, more and more individuals are turning to contactless modes of payment, accelerated by the COVID-19 pandemic and digital advancements. Are you aware that most of the transactions in food businesses and restaurants are generated through credit card payments?
Regardless of your restaurant’s sales goals, it is important to be aware of the new trends that your customers are riding on. The more popular forms of payment include credit and debit card transactions, so it’s definitely worth getting your restaurant onboard the credit card process.
Read on to find out as we share the benefits of restaurant credit card processing!
This is probably the main reason for getting your restaurant onboard. Restaurant credit card processing allows you and your customers to have a seamless and quick checkout experience. Reason being? It accepts almost all kinds of credit cards, reduces the checkout time and thus shorter queues for your customers, and offers contactless payment – which is a timely feature during this COVID-19 pandemic. With other innovative and easy features like payWave, your customers can even secure contactless payments using their mobile phones, making mobile payment the preferred option.
Customers Gain Satisfaction
What’s better than seeing your customers leave with satisfaction? Most customers these days do not carry cash, and even if they do, they aren’t in huge amounts that will fatten their wallets. Customers who dine and feast at a restaurant are unlikely to pay with cash as it’s a hefty amount – so if you’re not accepting credit cards, your customers may feel frustrated, or panic at the thought of “cash only” transactions.
The smart and wise bosses will encourage customers to use credit or debit cards to generate bigger and better sales, a psychological attempt in spending big without seeing the cash in physical. At the end of the day, it is important to improve your customer satisfaction level with convenient and reliable modes of payment so as to diversify their options!
Increased Sales and Revenue
A study has revealed that consumers are usually more impulsive when it comes to cashless purchases, spending 12-18% more using a credit or debit card. A meal at a restaurant is bound to cost easily over a hundred bucks, sometimes hitting 200 dollars. In this day and age, only a small fraction of people will carry around heaps of cash – so when cash is out of sight, people are more inclined to spend more on the feast since they’re already dining at a restaurant.
Handling a large amount of cash in the cashier is highly risky and dangerous, especially during peak meal times and chaotic hours such as lunches and dinners. Using a restaurant credit card processing reduces the likelihood of theft cases by employees or customers alike since it’d be harder to “steal money”. This not only creates a safe environment for everyone but also enhances your restaurant’s standards.
Give yourself lesser trouble, and engage in a fuss-free system instead to have a more productive and efficient payment system for the best dining experience.