There is a silver lining for businesses, especially restaurants that have yet to upgrade to pay-at-the-table devices that accept both EMV and contactless payments. A variety of new products now on the market provide tableside payment capabilities that could increase turnover and tips, while reducing fraud and skimming.
Point-of-sale (software) serves as the foundation for any restaurant business. It not only allows a business to securely accept customer payments, it also keeps the flow of the restaurant or food establishment moving forward.
For years now, U.S. restaurant goers have experienced a fairly antiquated tipping process: give the server your card, wait for your receipt, then sign and add a tip, if you feel inclined. With the introduction of EMV payment technology and the 2015 liability shift, there were many concerns that restaurants would have to abandon the traditional payment and tipping process in favor of models that are more common in other EMV environments.
Owning and running a restaurant is no small task. The day-to-day consists of long hours and hard work. Having a firm grasp on the day-to-day details is the key to business success. It is important for restaurant owners to have a strong insight into all areas—staffing, inventory, customer preferences, menus, promotions, and profits—in order to effectively command their business.
Over the past few years, the number of technological advancements made in the payments ecosystem has given merchants from retailers to restaurateurs more power when they process card-based transactions.