Although the pandemic massively accelerated the decline in the use of cash, it’s been a growing trend for years. It’s made way for all sorts of flexible payment options that make transactions quick, seamless and effortless.
We have many hospitality operators approach us knowing that they would like to implement a flexible payment solution, but find it difficult to know which is the best fit for their environment and customers.
We’re lifting the lid on some of these payment solutions – how they work and the benefits they bring – to help hospitality operators make more informed choices about which would be right for them.
The contactless limit was increased to £100 per transaction last year, which means the vast majority of payments can be done in this way; particularly in the hospitality sector where customers are usually paying for meals, snacks and drinks.
Contactless payments are done with a simple one-stroke action that is quick and efficient. It can be installed at Point of Sale terminals, self-service kiosks and even vending machines, so is incredibly versatile.
Recent stats by CyberCrew revealed the UK has the second-highest smartphone penetration rate in the world at 78.9%. Smartphones are hugely popular with millions of people using them every day and in all parts of life – including payments. Mobile wallets such as ApplePay and GooglePay are becoming the norm. These payment options are also compatible with lots of pre-ordering or payment apps, such as the mySYSTOPIA app. Multiple payment cards can be linked to the app giving users a variety of choice and the added bonus is there is no need for users to carry a wallet anymore.
Many organisations we work with use an access control system to enter their facility, so incorporating cashless payment options to these passes makes sense. Users don’t need to carry anything other than their ID badge with them, they simply tap-and-go which instantly takes payment – dramatically reducing queue time in the dining areas. Users can also top up their account or view their transactional history via their mySYSTOPIA app.
Benefits all flexible payment options bring
Hospitality operators are easily able to collect rich transactional data, enabling them to really get to know their customers. They can learn about peak trading times, buying habits and so on. This knowledge can then inform promotions and loyalty programmes, which can be tailored to suit the customers and their preferences – which will all work to increase revenue and bolster the bottom line.
Without the need for a physical member of staff to take payments hospitality can be offered 24/7, which is particularly relevant given the adoption of hybrid working within some workplaces. Increasing numbers of employees are working flexibly either earlier or later, and so they can still access food and drink without the need for increased staffing costs.
To hear more about how we can help you transform your business operation contact us on firstname.lastname@example.org