Whether it is making payments using Apple or Samsung Pay or paying through a mobile app, there is no denying that mobile payment is becoming a more popular option with customers.
If restaurants want to take advantage of this growing trend, then they need to invest in a restaurant EPOS software. In this blog post, we are going to explore the benefits of mobile payments.
Mobile payments come with several benefits that are not found in other more traditional forms of payment.
Mobile pay is one of the most convenient methods for payment. While debit and credit card transactions still garner billions of pounds in transactions, mobile pay is quickly gaining traction because it is more convenient than other forms of payment. Mobile payments are a form of frictionless payments because unlike credit/debit cards, it requires very little friction or contact when completing payments.
People are quite comfortable using their smartphone, especially millennial customers. Furthermore, paying via mobile is one of the most convenient payment options available and customers always look favourably on restaurants that offer convenient customer service. Restaurant EPOS systems have the hardware and software to support mobile payments and make other aspects of restaurant management easier.
Loyalty and incentives are key drivers of repeat customers, and if restaurants want to get more customers to visit the restaurant a lot more, then they will need to cultivate loyalty. However, to build loyalty, restaurant owners need to understand their customer’s history and preferences and, to understand their customers, restaurants need to collect data. Mobile payments are one of the best ways to understand customers. With mobile payments, restaurants can set a strong foundation for a customer loyalty program because they will base their offerings around what people will pay for.
Digital forms of payment are much more secure compared to cash. When restaurants support mobile payment, they do not have to worry about thieves stealing cash, breaking into their property and damaging their assets. This means a more safe, secure place and also more efficient operations because restaurants do not have to deal with unexpected setbacks from robberies and break-ins. At the same time, most customers still make payments via cash and or credit card and it is important to support these payment methods. This is where a restaurant EPOS system can be a huge asset for hospitality businesses. Restaurants can offer different payment options with their EPOS systems, like chip and pin support, along with mobile app integration. Furthermore, EPOS software offers security camera integration and staff management software to monitor the cash till and other areas of an establishment.
Online ordering is becoming more and more popular with customers. If restaurants are looking to break into the online ordering space, then building a system that supports mobile payment becomes a natural extension of that project. Online ordering is an excellent business and provides a great source of revenue for restaurants because it is becoming more and more popular with UK customers. The prospect of having restaurant-quality food from the comfort of their home or office, without having to travel, is a prospect many customers cannot pass up.
When restaurants invest in mobile payment, they reduce their dependence on paper. This not only reduces their operating costs because they are no longer ordering a lot of paper. It is a signal to most customers that are taking more effort to be more environmentally friendly. Customers are more conscious about the environment and are willing to support restaurants who take conscientious steps to reduce their waste. Restaurant EPOS systems can play a crucial role in driving this initiative because they help restaurants go paperless even in their management operations.
The hospitality industry is changing rapidly and restaurants need to adapt if they are going to thrive. The newspaper is filled with horror stories of popular restaurant chains closing down. However, that does not have to be the story of every restaurant. By embracing technology, and understanding the needs and wants of the modern-day customer, restaurants will succeed in the online era. However, to properly embrace this strategy, restaurants need to invest the right tools, which include a restaurant EPOS system. Mobile pay, be it through methods like Apple Pay or through a custom mobile app is the future of the hospitality industry and restaurants must embrace it.