People love eating out and it has become part of our culture to visit and try different restaurants at some point during our week. The experience people have at restaurants, ends with payment of the food they just enjoyed. Making a simple and easy checkout process for customers adds to their overall dining experience. When eating at a restaurant, over 75% of people prefer to use their credit cards vs paying cash. This means making sure you are able to accommodate their preferred method of payment, which is crucial to the survival of a restaurant. Choosing a credit card processor to fit the type of industry can help with making each transaction simpler and less complicated.
Whether if you’re opening a new restaurant or updating systems in an existing restaurant, credit card processing is one of the key components to connect with a restaurant. The monthly volume of transactions can be used to determine the type of credit card processor a restaurant needs. Coffee shops, food trucks, restaurants, and bars all need credit card processing which will best accommodate their business.
Quick, Easy, and Convenient Payments
Quick, easy, and convenient is what customers are looking for when making any payment. For fast service restaurants, it is important to have a very quick and efficient credit card processing system so customers are able to get in and out at a quick pace. Sit down restaurants can now offer their customers at table credit card processing, so the wait time to close out the bill is quicker.
Looking at the different percentage rates each transaction will cost, is an effective way to decide which system works for a restaurant. The cost of each transaction is dependent on the volume of transactions a restaurant performs. Higher volume sales come with fewer fees and lower percentage rates per transaction. Using the correct credit card processor can help with receiving better monthly rates on transaction fees.
A restaurant has many functions it has to perform, from serving the customers to all the backroom housekeeping. Credit card processing can help reduce some of the workloads when attached to a POS system. With updated systems, restaurants will have the ability to create data reports, inventory volume checks, and generate restaurant gift cards.
Building an efficient restaurant which has an ongoing flow, can enhance a restaurant’s growth rate. With quicker service, less POS mistakes, and generated gift cards for marketing, a restaurant has all the tools it needs to perform it’s best.
Every restaurant wants to eventually grow from its original state. Growth in a restaurant provides higher profits along with more productivity. Credit card processing helps with calculating the growth rate by itemized data reports and inventory analysis. When restaurants have analytical reports, it makes it more clear to view which parts of the restaurant are succeeding and which need additional work.
Secure Payment Protection
Credit Card Processing comes with secure payment protection on your transactions when you choose Provident Payments. This gives restaurants less risk and decreased liability from fraudulent payments. With the use of credit cards equipped with an EMV chip technology (Euro Pay, MasterCard, and Visa) less fraudulent transactions will occur. The EMV chip provides an encrypted code that is nearly impossible to duplicate, making it rather challenging to make counterfeit cards.
The installation of adding a credit card processor is a fast and easy process for a restaurant. Most credit card processors are adaptable to POS systems, which make them simple to integrate doesn’t require any additional software.