Your point of sale and payment processing systems are a vital component of the day-to-day flow of your restaurant’s operations. Having a payment processing system that allows for the flexibility of the ever-changing flow of your business is crucial. It’s even possible that you have a payment system that isn’t aligned with your operational needs. As consumer demand for payment options continues to evolve, payment processing for restaurants has to keep pace to ensure customer satisfaction and security.
As a restaurant operating with already slim profit margins, if you’re saddled with an inflexible POS system or are stuck in an unfavorable contract with a credit card processor, it’s time to make a change. Luckily, there are POS solutions out there that can help you avoid payment processing limitations and give you much more control of your business.
Avoiding the Trap of Limited Payment Processing Options
Perhaps the most limiting factor around payment processing and POS systems is becoming trapped in extended support contracts or hardware-dependent solutions. Hidden fees, early cancelation charges, and unfavorable rental agreements can harm a restaurant’s profit margins while also making it more difficult to retain customers. Support options may not be adequate for your needs, but since you’re locked into an agreement, you find yourself without any leverage to modernize your equipment or change support terms.
The owner of a smaller bistro enlisted our help after learning that their credit card reader was down and needed replacing. The support contract with the payment provider provided no allowance for equipment or software replacements — at least not for free. Adding to the owner’s frustration, the support hours were for a different time zone that created a gap of two hours during which the bistro was open, but not the payment processor. This created enough of an issue to eventually cost the eatery some of its loyal customers due to the shop being unable to accept card payments during that time.
On top of that, when they asked about upgrading their system to a POS that works on tablets that would allow them to process mobile payments, their processing provider told them they didn’t support such a system. Not only was the restaurant stuck with an unreliable card reader, but they were also stuck with an outdated POS system in the back of the house.
Reaping the Benefits of Improved Customer Service
At the end of the day, there’s one aspect of every restaurant that’s most important to consider: the diner. When making the decision to move to a different payment processor or even when changing banks, you must do so with the customer experience in mind. This will also need to include support services that match your operating hours, as there are few things more damaging than having to comp food because your credit card equipment is down.
There is a better way to go with payment processing, and a flexible, modern solution will be noticed by your customers. The ability to offer varied methods of payment options with a high level of mobility and security is the forefront concern when it comes to the customer-facing aspect of payment processing.
After examining the bistro owner’s predicament, we found a way to release them from their current payment processing contract and helped them find a POS system that didn’t lock them into specific payment hardware. This included more favorable rates and lower fees for card purchases as well as the freedom to upgrade to that tablet system they were eyeing. This created several areas of improvement that provided near-immediate results; results that were very visible and received positive feedback from patrons.
- Increased payment options. The new payment system was tied into a tablet-based POS solution, which allowed for time-saving ways to accept payment. Wait staff could take payments right at the table, instead of taking a debit or credit card from the customer to a terminal in the back for processing. The bistro gained the ability to allow customers to pay via a mobile app as well, which reduced the need for extra staff members during the shop’s slower days.
- Fewer financial losses. Since the bistro’s old POS and payment processing system didn’t come packaged with free 24/7 support, they were losing a lot of money paying for troubleshooting and system repairs. Remember those two hours they weren’t able to process card sales? Not only did they lose those sales, but they also had to shell out to get their card reader replaced.
- Hardware flexibility. Now that the bistro wasn’t saddled with a point of sale system that required a specific credit card reader and a bulky main terminal, they found that they had a lot more freedom to choose the hardware they used in the restaurant. They selected a tablet-based solution that allowed the wait staff to spend more time on the floor instead of lining up behind a fixed terminal to enter orders and handle payments.
- More positive customer feedback. The extra time the wait staff has to interact with customers has led to increased diner engagement and quicker table turnarounds with fewer wait times during peak hours. By spending less time navigating the bistro’s old, clunky payment system, the restaurant saw an uptick in both positive verbal feedback as well as sterling online reviews.
As our bistro client discovered, you can change the way you do business by simply implementing a flexible payment processing solution. Your staff, your patrons, and your bottom line will all thank you when you make the switch from restrictive legacy systems. As you seek to grow and expand, it’s important to take a closer look at your transactions and how they integrate with your modern POS system as a whole.
The Flexibility an Innovative POS Solution Provides
It is not enough to be focused on what credit cards you accept or even the fees charged with each transaction. Choosing a POS provider that allows your restaurant more flexibility in payment processing and hardware selections benefits your business at every level.
We can offer your restaurant an effective point of sale solution that doesn’t lock you in. By learning more about your business, we’re then able to recommend a solution that will help you grow and even scale alongside you. With talech at your side, you gain an indispensable partner that will work with you from start to finish. Contact us today to sign up for a demo and to learn more about how talech can be your expert POS partner.
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