Contactless Payment Restaurants and Retailers Need to Know About

customer uses contactless payment

Discover the Benefits of Contactless Payment

Keeping restaurant and retail interactions as contactless as possible is paramount in the current environment. Contactless payment is a trend that has been on the market for more than a decade but has increased in mainstream adoption as consumer behaviors have changed.

Consumers have grown to expect businesses to keep up with technology trends like contactless payments. Almost half of buyers (48%) said they would not shop at a business that only offers payment solutions that require contact with a cashier or shared payment processing terminal.

If your business has doubts about the validity of offering contactless pay, we want to help you discover the benefits of contactless payment restaurants and retailers.

What is Contactless Pay?

Card readers have advanced over the years, and contactless pay has emerged from the changes. Contactless payment is an electronic payment that doesn’t require physical contact between a cardholder or credit card terminal. Contactless eliminates the need for any physical inputs, either through technology, a change in payment layout, or operational adjustment.

Types of Contactless Payment for Restaurants and Retailers

While it sounds complicated, contactless pay is grounded in secure technology. There are several ways to implement contactless payment into your business.

Contactless Cards: Commonly referred to as Tap to Pay cards, these devices look like a regular credit or debit card from the exterior, but inside contain a small antenna that allows wireless communication between the card reader and the point of sale (POS) system.

Mobile Wallet: This is an application stored on mobile devices that allows smartphones to take the place of a credit or debit card. To use a mobile wallet, customers enable their smartphone’s contactless pay capability, link their credit card, and use their phone the same way you would a Tap to Pay card.

QR Code: This type of contactless payment uses a different approach. Businesses must provide a QR code to customers on a receipt, table tent, menu, or other convenient location. Then, customers can scan the code with their smartphones, which will take them to a site to pay for their order online.

Contactless Payment Restaurants Benefits

There are many benefits of contactless pay, but some are especially important for restaurants. First, there’s increased table turnover to consider. There’s nothing worse than a customer waiting too long for their server to bring them the check. Not only can this turn a glowing Yelp review into a sour note, but it also means that customers are taking up valuable table space while waiting for the check. Customers can pay when they want with contactless payments, leading to a smoother dining experience. Quicker table turnover can also help alleviate staffing issues. There’s more room for error when servers rush through check-out processes due to high demand; giving contactless pay options frees up servers.

In addition to serving great food, customers want a safe and stress-free dining experience. To ensure this happens, you must keep up with customer demands by providing the technology and payment options they want. When patrons feel seen and heard, you’re one step closer to building a loyal customer base that will stick with your business.

Along with freeing up servers and staff from check out, contactless payment restaurants also give them more time to focus on customer engagement. This makes a better customer experience and can potentially increase the likelihood of better tips. Plus, contactless payment solutions from Paradise POS can calculate percentages and promote gratuities, making it easier for customers to leave tips.

Contactless Payment Retailers Benefits

If you’re a retail business on the fence about contactless payments, there are many benefits to adopting contactless pay. Because customers who use contactless pay no longer need to enter pin numbers or provide a signature, you’ll reduce the time it takes to complete each transaction. Studies suggest that contactless payment is up to 10 times faster than swiping, inserting, or using cash. In addition, getting people on their way after making a purchase is a chance to earn their loyalty.

Customer expectations are shifting, and customers demand safe payment options. To keep customers returning to your store, you have to keep up with the latest technology. Implementing contactless payment is an excellent opportunity to invest in the customer experience and have them leave with a smile.

Additionally, contactless pay offers a level of security and peace of mind to transactions. Customers initiate the transaction, so there’s no need to hand over a credit card which reduces suspicion that payment information might be stored or misused.

Give Your Customers a Contactless Payment Experience

As the restaurant and retail industries change in response to shifting consumer behavior, your business needs to adapt along with it. From contactless cards to QR codes, businesses have options when it comes to contactless payment and can benefit from any solution. For more information on how Paradise POS can provide contactless payment restaurant or retailer solutions, contact an expert today!