Reflection POS: Why Touchless Payment Technology is the Future of Payments
Cash payments have been dwindling in recent years and even more so due to the national coin shortage during the height of the global pandemic. Card payments have become the preferred payment method among consumers due to their convenience; however, recent trends are taking it a step further with touchless payment technology.
A study from Juniper Research reports that more than half (53%) of global transactions at the point of sale will be contactless within the next five years. Near Field Communication (NFC) payments made with mobile wallet apps such as Google Pay and Apple Pay, and QR code payment technology have quickly taken over the restaurant industry—and with good reason.
One major perk of touchless payment technology is the increased safety it brings. Touchless technology eliminates human contact between customers and staff during transactions. Even as some restrictions lift, consumers will still be wary of their health when in public spaces.
Restaurants who provide touchless payment technology can put their customers’ fears to rest when they pay with mobile wallet apps or scan a QR code with their smartphone.
Due to many restaurants already offering these payment options, customers are growing accustomed to their convenience and will expect them to continue. Investing in the right technology will keep restaurateurs up-to-date on the latest payment trends and help them stay ahead of their competitors long after the pandemic passes.
Ease of Use
Touchless payment technology is easy to use for both customers and staff, simplifying otherwise tedious tasks. Servers no longer have to stand at the POS terminal wait for the receipt to print, and bring it back to the customer. With a mobile POS unit or pin pad, servers can simply scan the customer’s preferred payment method tableside.
Not only does this simplify tasks, but it also eliminates the stress of a bustling workplace. Servers travelling back and forth throughout the restaurant can cause accidents and traffic issues. With touchless technology, the environment will be much calmer, offering a more refined dining experience. What’s more, the customer barely has to lift a finger.
Touchless payment technology features built-in protection to ensure the same transaction doesn’t occur twice by accident. If intercepted, the details and numbers linked to the card cannot be decrypted as unique numbers are used for transactions that don’t correlate to card numbers. With touchless payment technology, restaurants can offer convenience to their customers’ checkout experience while keeping their sensitive data secure.
Speed of Service
Touchless payments not only offer increased safety and security, but they also provide a more efficient checkout process. It is estimated that contactless payments can be completed within seconds and work twice as fast as standard cards. While mere seconds don’t seem significant, shaving seconds off each transaction will quickly add up. Saving this kind of time will allow staff to offer speedy checkouts and get back to work faster. As checkout speed increases, so will table turnover, allowing restaurants to serve more customers at once.
The checkout process becomes even more efficient with QR code technology; all staff needs to do is give the customer their receipt. After that, the customer can scan the QR code at the bottom of their receipt with their smartphone, and from there can view their bill, add a tip, and pay with a credit card, Apple Pay, or Google Pay. This method is much faster than customers waiting for the server to drop off the check, come back to pick it up, wait for them to process the payment, and return for signatures.
Improved Customer Experience
When restaurants implement touchless payment technology, they will improve the customer experience as a whole. Waiting too long for the check or experiencing a data breach are situations that will harm the reputation of your restaurant—and customers never forget a negative experience.
When the speed, ease, and security of service is improved, so is the customer experience. With touchless payment technology, customers can spend less time worrying about paying and more time enjoying their dine-in experience with their friends, family, and colleagues.
Touchless payment technology is nothing without the right POS. Contact our team of experts at NCC to learn more about our customizable restaurant POS solutions today.