10% of the American workforce is in the restaurant industry. This notwithstanding, the industry is said to be a tough nut to crack, with most restaurants closing down before their first anniversary.
There are many reasons why this happens, among them the ever-changing dynamics of this industry. One transformation that has come to the forefront is tableside payment.
Why should you add this?
Here is how your business can benefit from tableside payments.
1. Better Customer Experiences
Restaurants have managed to get a similar ambiance, serve the same fare and even have more or less the same prices. So why should diners come to you?
Well, customer experience is a powerful differentiator. Research has shown that people will not just patronize a business for its stellar customer experiences; they are also happy to pay more for good experiences.
Nothing ruins a dining experience like having to queue to pay.
Offering tableside pay in fast-casual restaurants means diners can order and pay for their food without waiting in line. This minimizes waiting times and allows guests more time to enjoy your ambiance and your food. The result? A much better customer experience.
2. Better Kitchen Coordination
Few things annoy hungry customers more than ordering meals and waiting, only to be told the kitchen has run out.
Tableside pay and order allows restaurants to update their menus in real-time. Dishes that are running low can be removed from the menu immediately. This keeps the menu current and accurate and negates the need to have a second menu behind the counter.
In addition to this, tableside order and pay give guests a picture of how long they need to wait to be seated. It also shows available tables to supervisors and managers.
3. Better EMV Compliance
Restaurants that fail to update their technology find themselves at a higher risk of chargebacks.
A chargeback happens when a customer disputes a credit card transaction, and the credit card provider demands that the merchant cover the loss. As a restaurant, the higher the transactions you handle, the higher your risk associated with the 2015 EMV liability shift.
Pay at the table platforms bring EMV compliance to your business. Essentially, this takes the liability from your establishment and directs it back to the banks. Another benefit is decreasing employee fraud or theft and tip fraud.
4. Increasing Efficiency
Unlike centralized restaurant POS systems, tableside payments save your guests and staff time. Which ultimately allows you to open your doors to more guests at a higher frequency. This leads to a higher revenue boost for customers.
It also means waiting for more tables for your servers, which can translate into higher tips. This is, of course, great for morale.
Similarly, your staff can focus more on delivering excellent customer experiences instead of shuttling back and forth, running payments, bringing receipts back for signing, and so on.
Whether you run one restaurant or multi-locations, your business will benefit immensely from tableside payments. Not just that, but your competitors are probably offering tableside payments and all the conveniences it brings to diners.
Don’t take this lying down. Contact Milagro and make the switch today.