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Could Contactless Payments Save the Restaurant Industry?

Could Contactless Payments Save the Restaurant Industry?

By Jeff "Herschy" Schwerdt
June 2, 2021

Digitizing The Future of Accepting Money  

Would you believe it if I told you global contactless payments are expected to reach $1.71 trillion dollars this year alone? 

The restaurant industry has taken a very large hit to their businesses within the past year. Perceptions are changing, and the approach to running a successful restaurant has completely shifted from what it used to be. 

Although restaurant revenue is finally rebounding back to pre-pandemic levels, the landscape of the restaurant industry has permanently changed for good. The pandemic altered all aspects that build the foundation of a successfully functioning restaurant, including how these eateries accept payments from their consumers. As consumers’ purchasing behaviors and preferred method of payment have changed, restaurants need to leverage processes such as digital ordering and contactless payments to stay competitive before it is too late.

With 80% of customers concerned about touching payment readers, it is crucial that restaurants adapt to the new normal to make both their consumers and employees feel safe. Furthermore, not only is this technology cleaner, but digital payments simplify the commerce process and support the innovation of what is becoming the future of accepting payment. According to a recent survey, 95% of restaurant owners say using technology improves the efficiency of their eateries overall. Now is the perfect opportunity to take advantage of this new door for restaurants to both prioritize their valued customers and enable your business to continue being prosperous in bringing in revenue.

This aspect of your business is also becoming something consumers are even asking for from restaurants. In a study conducted by American Express, 70% of customers are requesting the option of contactless payments. This process of commerce not only makes your business more efficient, your consumers are currently asking for this option to be made available at your establishment. Furthermore, as if the opportunity couldn't be any better, contactless payments can also make you more revenue in themselves. According to a study from MIT, customers tend to spend 100% more when using their cards digitally instead of cash. This point of sales system for restaurants is faster, more efficient, and ultimately effective in making money for your business in itself. What more could you ask for in a system for your business?      

Starbucks is the prime example of a restaurant business that is extremely successful based off of its digital payment based system. Through their app, they allow customers to easily and quickly pay for their orders instantly with their smartphones. Not only does this speed up the process in decreasing the line wait time, but it also serves as an efficient marketing tool for their business through features such as promotions, pre-ordering, and their loyalty program. Ultimately, Starbucks’ digital payment system allows them to be efficient in a way that makes them more revenue. 

With all of these crucial qualities in digital payments for creating successful restaurants, you may be wondering, where would you even go to get started in implementing this process into your business? 

Our digital payment system allows your business to easily collect payments through text message, SMS, QR code, website, or email. Without boosting any of your sales, this contactless payment process will give your business the opportunity to prioritize safety and efficiency while still putting more money in your pocket. As digital payments are becoming the new normal, now is the time to digitize restaurants’ payment systems that will upgrade your marketing strategy and the overall flow of your business. 

To learn more information about how your business can get involved in the shift to contactless payments and accept online payments for FREE, visit our digital payments website or simply get started in receiving your payments here.

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ABOUT ME

Jeff "Herschy" Schwerdt
I'm a former USAF F-16 Instructor Pilot turned entrepreneur. After experiencing a career ending back injury in 2007, I started working online and created my first digital agency in 2008, working with local business owners.

I'm a husband, father, international speaker, author, and the creator / co-founder of several products, software platforms, and tools designed to help internet marketers, local business owners, and digital service agencies.

Using my eight year military flying background, I focus on developing proven and repeatable systems that use easy to follow step by step processes to ensure we consistently bring in new clients using the power of automation.

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