Restaurant credit card processing capabilities play a vital role in keeping your business up and running.
To be at the forefront of this, you need an integrated payments solution. They align the systems and payment platforms to facilitate quick and flawless payments. With integrated payment solutions for restaurants, you don’t have to manually enter your customers’ card information into your credit card readers.
Along with this, an integrated payment system comes with a lot of benefits. Here are a few of them to consider.
Advantages of Integrated Payment Solutions for Restaurants
1. You Save Time
This is the most obvious advantage of an integrated payment system. It communicates directly with your POS, thus eliminating the need for manual entry. This cuts the time between the entry of the transaction into your POS and its completion. And this saves time for both you and your customers.
Also, it makes end-of-day reconciliation quick and easy by eliminating the need for manual entry and reporting the totals and tender types automatically to your POS system.
2. Errors Are Reduced
Non-integrated payment solutions make your restaurant vulnerable to frequent data entry errors. Employees are human, and it is only a matter of time before they unwittingly make a mistake when entering hundreds of transactions into your POS and payment terminals every day. These mistakes can cost you more than you save on payment processing. Integrated payment solutions sync customer and transaction information automatically and accurately, thus eliminating this risk.
3. They’re More Secure
An integrated system reduces the risk of credit card fraud by offering the hardware, software, and services to process all payments safely and securely. They also offer many value-added services like end-to-end encryption, EMV, and tokenization, which adds extra layers of security to the process.
4. Customer Experience Is Improved
Integrated payment systems speed up the checkout process and support your staff’s ability to better serve customers. An integrated system is essentially a detailed customer database as it can keep track of valuable customer information. This information, like previous transactions, can help you with personalized promotions, suggestive selling, and targeting your campaigns to specific markets. It will also help you keep an eye on vital sales trends, so you can work on your strategy accordingly.
5. Increased Cash Flow
Credit card processing can adversely impact the cash flow of your restaurant. Conventional payment systems can delay the transfer of funds to your restaurant merchant services account. Even when you are receiving a large number of payments, integrated payments systems for restaurants process your payments as soon as they go through. Thus, the deposits are made faster since payments are processed in realtime, in turn reducing lag time. This increases your overall cash flow.
Integrated payment systems might have certain disadvantages as well, but the benefits they offer are far more by comparison. They can make your payment system work efficiently and flawlessly without even a chance of error. And for that you should pick a reliable payment solutions company.