According to the most recent data, Lumina Intelligence UK Eating Out Market Report 2021, the UK eating out market is expected to grow 33.4% to £63.6 billion in 2021. The market is expected to be worth £91.9 billion by the end of 2022, exceeding its pre-pandemic value of £91.3 billion.
Restaurants will need to change their payment methods to accommodate customers. With the impact of COVID-19, the pandemic has had a significant impact not only on the hospitality industry but also on how consumers spend their money.
Customers want to pay for food in your restaurant or takeaway using payment methods that are convenient for them. Knowing how to adapt and stay ahead of the curve when it comes to restaurant payment methods will help you create a great checkout and guest experience.
Restaurant Payment Methods
There are many restaurant payment methods, and because technology is constantly evolving, it is critical that restaurants do as well.
As seen throughout the year, contactless society, digital wallets, and cash are becoming redundant. As a restaurant owner, you would want to ensure that your customers can pay using a variety of different payment methods. This not only keeps money coming into your business, but it also keeps customers returning and extends their lifetime value in your restaurant.
Your restaurant must ensure that all payment methods are seamless, whether a customer is dining in, ordering takeout, or ordering via app or website. But what payment methods will your customers use?
Cash
Even though few people carry cash with them, some customers may prefer to pay in cash. Your company should always be aware that there is still a market for cash transactions and should accept these types of payments from customers.
Credit or Debit Card
Customers would prefer to pay for their food or drinks with a debit or credit card because many people have a bank account. When a customer inserts or taps a card terminal at your restaurant, payment technology detects the card and bank information via a gateway to the bank, and the transaction is completed. Many consumers have bank accounts with multiple suppliers and may use their debit and credit cards in a variety of ways.
Apple Pay, Google Pay, and Amazon Pay
Customers can pay for their meals at your restaurant using their phones. Customers can use Apple Pay and Google Pay to sync their debit cards to their phones and pay using their phones or smart devices such as tablets and watches.
If your card terminals support contactless payments, you will be able to accept all kinds of payment methods.
How can an EPOS system provide good customer service?
Electronic point of sale (EPOS) is a type of software and hardware that is used to help you run your business. EPOS systems help businesses run more efficiently. EPOS systems, as opposed to traditional tills, not only record transactional information but also provide more detailed and thorough reports and analytics on many aspects of a business.
If you want your restaurant to provide excellent customer service and accept a variety of payment methods, EPOS systems are a good investment. Consider countertop or portable card readers to accept payments from customers at a table, outside, or while they wait in line. EPOS systems are a quick way to serve customers and can accept a variety of payment methods.
At Emergo we offer 4 key products. Payments, loyalty solutions, EPOS, and online ordering. We do this all in one. This means no different contracts, no multiple suppliers or contacts; everything is streamlined and under one roof. Invest in EPOS, which will save you time by providing fast, simple, and convenient restaurant payment solutions.
Increase the profitability of your restaurant by implementing payment technologies and solutions.
An EPOS system’s capabilities and functions are limitless. You can learn more about how to increase your restaurant profit, ROI, customer experience by reading our recent blogs 5 Reasons Why Your Business Is Struggling Without Emergo EPOS and The Advantages of Using EPOS Systems.
Like what you’ve heard so far? Then get in touch
If we’ve piqued your interest, then get in touch. Take a look at some of our other blogs and case studies to see how we’ve assisted and supported a variety of businesses.
Please contact one of our friendly and knowledgeable sales reps if you are looking for Online Ordering, EPOS, Payments, or Loyalty systems. If you’re curious about how Emergo can assist you, fill out our form and get started on your Emergo journey today.
