Fast food just got faster: How payments technology is reshaping the restaurant industry
Whether grabbing lunch in between meetings or a coffee before work, customers often choose restaurants based on speed and convenience. New payment technologies adhere to consumers’ fast paced lifestyle needs, causing restaurant owners to consider quick integration. Chris Francis, VP of Market Development at Worldpay US, shared what restaurant owners should consider before, during and after adopting new payments technology in a recent article for FastCasual.
Choosing the best payments technology option
Restaurant owners have to pick the best option to fit customers’ needs. Three options are leading the pack today.
- Contactless payments: For customers who don’t have a lot of time, but want to dine out, contactless payments is the best option. Contactless payments enable customers to simply tap their phone, wristband or key fob to complete a transaction.
- Card-not-present payments: If the majority of a restaurant’s customers prefer to order dinner via smartphone or computer, restaurant owners should consider integrating card-not-present payments into their payments suite.
- Cloud-based payments: And for the customers that don’t fit into the categories above, but are looking for an option that is still convenient, restaurant owners should consider cloud-based payments, which enable customers to walk in, grab the order and walk out, eliminating checkout lines.
Educating staff and consumers
Integrating new payments technology will alter the daily tasks and routines of front- and back-of-house staff members. To eliminate confusion about the new services being offered, owners should gear company-wide meetings and training sessions toward educating staff on how to properly use any new technology and how it will affect company operations. After the staff goes through proper training, customers should be notified so they can take advantage of the new services.
Restaurants that focus on improving the customer experience are more likely to see an increase in sales. Popular pizza chain Papa John’s attributes 40 percent of their sales to having new payment processing options. New payments technology outlined above will give more accurate insight into transactions, sales, and increases in revenue, while eliminating the need to manually complete these tasks.
Choosing to integrate new payments technology will not only improve the customer's experience but will positively impact the company in more ways than one. For more information on payments technology options, visit our products page.