Mobile Payments Net Profits for Restaurants
Mobile payments are becoming the go-to solution especially in customer-facing operations like retail stores and restaurants because more consumers are purchasing goods via this method. A recent study conducted by PointofSale.com looked at the typical process of how most restaurants accept payment today and uncovered why it’s imperative for these businesses to offer mobile options as well, so that they can remain competitive and ultimately turn better profits.
Standard Restaurant Payment Process is Lengthy
Typically, in today’s restaurant industry, the physical check is delivered to the guest and then the server leaves to give the customer time to pay. Next, the guest finds the card they want to use for payment, and then the server stops back at the table to pick up the check and card. Finally, the server walks away to process the transaction at the point-of-sale system, and then returns the check and card to the guest so they can tip the server, sign the check, and put their card away. There are more behind-the-scenes steps that are taken by the restaurant to close the transaction cycle.
This entire operation has been the standard for years but ultimately it causes a delay in the payment process. Mobile payment processing systems would allow a server to bring the check to the guest and then the guest would handle the rest of the payment process right away.
Benefits of Offering Mobile Payments in Restaurants
Mobile payments would bring many benefits for servers, restaurants and guests, including the following:
- Greater efficiency at the table and faster turnover
- Less wait time and more satisfied guests
- More customer engagement
- Data collection to better determine what guests want and don’t want
Of course, every restaurant needs more than one way to process payments but offering mobile payments as an option expands a restaurant’s range of service to as many guests as possible. With mobile payments, the credit card transaction cycle can be shortened greatly, and the consumer appreciates the ease and time savings while owners reap the profits of turning more tables.
Is Your Restaurant Equipped to Process Mobile Payments?
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