Think about a typical restaurant scenario. The customers are given a place to sit, and a waiter takes their order using a notepad. He then goes to the cash register to input order details. The order may then be printed and sent to the kitchen. When it comes time to pay, the waiter takes cash or a credit card from the customer, returns to the cash register, processes the payment and returns the card and receipt to the customer. You can imagine that this process could be more efficient, right?
With the use of an mPOS device, you can drastically simplify your restaurant’s payment procedures.
An mPOS device is a mobile device, such as a smartphone or tablet, used as an alternative to a traditional POS such as a cash register. It usually comes loaded with a mobile payment app that enables a wide range of secure and fast mobile payment options, including mobile wallets.
These mPOS devices remove many of the unreliable aspects of a traditional POS and introduce a wide range of innovative capabilities that benefit both customers and businesses alike.
Thanks to these benefits, mPOS usage is growing rapidly, with 451 Research predicting that the global mPOS installed base will grow to 54.03 million units by 2019, compared to 13.3 million units in 2015.
In a restaurant, an mPOS device allows staff to process fast, secure payments, all without leaving the customer’s side. The devices can also store order data for later analysis.
Here are more details about the main benefits of using mPOS devices in your restaurant:
Increased convenience
A survey by the National Restaurant Association found that 79% of consumers say that tech options in restaurants increase convenience. Indeed, mPOS increases convenience for both staff and customers, alike. All orders and payments can be made from any location. This is especially useful for restaurants with tables spanning a few different areas, such as beachside restaurants with tables both indoors and out on the sand.
A portable mPOS device is easy to replace in case of damage, and it takes up far less space than a traditional POS. As many people are accustomed to using devices such as smartphones and tablets, the use of an mPOS device with a touchscreen display is intuitive and easy to adopt.
Quicker payments
If a restaurant sends an email payment request to a customer, it would take time to check the backend for the payment confirmation. However, with the use of a mobile payment app, payments can be made with an instant confirmation that comes up immediately on the mPOS device screen.
A traditional POS requires an extended wait time for confirmation and increases the wait time experienced by customers. In a crowded restaurant, for example, staff members may spend time waiting for a POS terminal to become available before they can process the payment from their table. In contrast, mPOS devices are both inexpensive and portable, so every staff member can have one and multiple customers can be checked out simultaneously.
Giorgio Ristorante in Rosemere, Quebec, has introduced mPOS devices to decrease wait times during peak hours. At these times, the restaurant sometimes has upwards of sixty-five full tables. Equipping their waiters with tablets keeps them on the restaurant floor so they can serve customers quickly, improve the overall dining experience, and serve more customers.
Increased sales
Sales are increased when payments are done faster, too. When diners complete their payments faster, your restaurant can increase the number of people they serve, each day. The speed and convenience of an mPOS service also increases the possibility of upselling additional dishes, drinks and desserts, and makes your establishment more attractive to the younger generation.
An mPOS device can also collect data for use in data reporting and analytics. Data collected can show average money spent, payment methods used, and more. This enables your business to analyze trends and develop strategies that optimize sales.
Increased security
All card-based transactions are encrypted when made using an mPOS system with high security standards such as PCI DSS certification. This means that no credit card data is stored on the device, unlike with a traditional POS. This minimizes the risk of a security breach and protects both your restaurant and your customers.
Improved dining experience
Mobile networks are fast and available almost anywhere. Making use of this technology can greatly improve your customers’ dining experiences, as their needs can be met on the spot. The portability of mPOS devices and speed at which they complete payments greatly reduce customer wait time, making dining enjoyable and hassle-free.
Easy to accept mobile wallet payments and EMV chip cards
Forrester research estimates that mobile payments in the US will reach $142 billion in volume by 2019, compared to $50 billion in 2014. Using an mPOS mobile payment app gives your customers the flexibility to choose how they want to pay. They no longer need to use a credit card or cash and can now rely on their smartphones and use mobile wallets such as Apple Pay and Android Pay to complete their purchases.
In addition, EMV migration costs for a regular POS device are high. Mobile devices cost far less per unit and can accept both EMV transactions and wireless NFC payments. Using mPOS devices also reduces labor costs, as staff can be more efficient, spending more time with the customers and less time walking to and from the traditional POS.
As you can see, mPOS devices provide superior payment services for both you and your customers. Start increasing customer satisfaction and boost your sales by introducing mPOS devices in your restaurant.
Author bio:
Eran Feinstein is the founder of Direct Pay Online, a global e-commerce and online payments solutions provider for the travel and related industries. With over 14 years of experience leading technology, sales, marketing and operation teams, Eran is an authority in the East African e-commerce and payments arena. He’s also an avid marathon runner.
