It is becoming evident that the technological revolution in the consumer and restaurant industry brought about by the COVID-19 pandemic is here to stay. Customers have experienced the benefits of conducting their purchases through online platforms and apps, and now do not want to give up this cash-free leisure for old-school dining and shopping. Like customers, employees have also benefited greatly from the effects of this revolution, working on up-to-date, smart, and ecologically friendly technology that helps transactions and interactions run smoother. One of the simplest, but perhaps most beneficial and business-changing methods is encompassed by payment solutions.
Everything You Need to Know about Payment Solutions
What are Payment Solutions?
Payment solutions are completely electronic and software-based equipment that process payments whether they are online, in person, by phone, with cash, or with credit and debit cards or bank transfers. Point-of-sale systems are among the top examples of Payment Solutions, and they are increasingly and exponentially getting adopted by growing businesses.
Integrated vs. Non-integrated Payment Solutions
In Non-Integrated Payments, payment information is not automatically communicated to your point-of-sale system through the payment terminal. This means that any discounts and sales must be entered manually on the card-reader when charging the customer. Moreover, after any transaction, the cashier will manually record the traction in the POS-terminal. Alternatively, in Integrated Payment Solutions, credit and debit-card processing is directly tied to your installed POS system. This seamless, quick, automatic, and quick communication between the payment terminal and the POS system not only optimizes the back-end business operations, it also makes the checkout process fast and smooth. Read more: Cloud Kitchens- The Future of Restaurants
Reasons Why Your Restaurant Needs Integrated Payments
While Non-Integrated Payment Solutions are relatively cheaper, your business is most likely to thrive with integrated payments that can leave your customers and staff satisfied with their interactions.
- Non-Integrated Payments make the check-out process last significantly longer.
Customers always appreciate when businesses value their time with efficient checkouts and no wait-in lines. Having a lengthy check-out process due to the manual entry aspect of Non-Integrated Payment Solutions can make the customer dread the transaction, abandon their shopping cart, or shop less frequently at your business. On the contrary, a seamless and quick payment process can encourage customers to make your business their go-to.
- Less error is likely to occur with Integrated Payments.
Manual entry and system-communication will always carry with it marginal human error, no matter how talented and focused your workers are. If you are looking to completely eliminate the possibility of payment errors and fraud, Integrated Payments are the way to go. In integrated payment systems, all consumer and transaction information is synced automatically and accurately in real time, leaving no room for human error.
- Integrated Payments speed up cash flow.Due to the automatic syncing of each transaction, Integrated payment systems speed up your business’s cash flow and lead to more money sent to your account by the end of the day, as payments are automatically posted to your account with credit card processing.
- Integrated Payments allow you to gather valuable data with each transaction.
Perhaps one of the best advantages that Integrated Payments can offer is allowing you to build a loyal and frequently-visiting customer base. Integrated Payment Processing Solutions can act like a detailed customer database, as the seamless data sync and communication allows for the tracking of valuable customer data, such as previous transaction history. This database can allow you to get to know your customers’ buying habits better and consequently present them with improved customer service, through personalized promotions and targeted marketing campaigns. In turn, you are able to better measure the success of your marketing campaigns by looking at transaction patterns. Thus, Integrated Payment Solutions can help you improve and grow your business, optimize your marketing, and gain the satisfaction of your customers.
Why Foodics Pay can help you reap the benefits of Integrated Payment Solutions:
Foodics Pay, Foodics’ very own Integrated Payment Solution, can offer you all of these advantages and more.
- Foodics Pay accepts all payment methods, such as Mada, Visa, MasterCard, and Digital Wallet, encouraging all types of customers to purchase from your business.
- Foodics Pay ensures that you receive daily bank settlements no later than the end of the working day.
- Foodics Pay offers speedy and error-free transactions by eliminating manual entry
- Foodics Pay allows you to be in full control, ensuring you remote access to monitor all of your transactions from any device, anywhere, and anytime.
- Foodics’ own N910 Payment Terminal supports claims, disputes, and chargebacks which are smoothly carried out and completed.
- Foodics is always there when you need them with 24/7 technical support, avoiding any delays in solving any inconveniences.
Not only can Integrated Payment Solutions free you from error, make your transactions easier and faster, and speed up your daily bank settlements. Integrated Payment Solutions can allow you to spend less time doing more; with a few clicks, the transaction is completed with no errors, valuable customer data is obtained, and your customer is satisfied with their experience. Integrated Payment solutions make it possible for you to build relationships with your customers so your business is more than just a simple transaction, it is a whole experience.