“Why fix what is not broken?”
Your business might be cash-only and still earn good profits; or you already use traditional card readers and customers do not seem to mind them. So why bother adding mobile payments when your current system works fine? Why should you consider this new opportunity? What is the point?
The simple answer is the market is always changing. Companies that do not grow with the times end up getting left behind. As more and more restaurants move to the streamlined, simplified methods of mobile payments, not doing so is a decision to stick with the status quo.
Research projects the value of mobile payments to rise 44 per cent this year to $235.4 billion compared to $163.1 billion in 2012, according to Online Media Daily. Like it or not, when the possibility of mobile payments is ignored, you are sitting on the sidelines.
“Our customers are not techy-savvy”
Whether you run a supper club with a traditionally older customer demographic, or you manage a hip restaurant in a region where smart phones are not the norm, you may find yourself assuming mobile payments will not work for your brand. Perhaps your customers are not ready or do not like to follow technology trends.
Before assuming this to be the case, however, you should do some research to find out if it is actually true. You could be surprised.
According to research from the National Restaurant Association (NRA), 44 per cent of table-service restaurant customers prefer to use mobile payment options and 50 per cent are interested in using mobile apps to view menus and place orders from their phones. In fact, 69 per cent of consumers are already comfortable with using mobile devices for food services.
What is more, these numbers are only growing. According to market research company Chadwick Martin Bailey, 81 per cent of observed consumers searched for a restaurant or mobile app on their phones in a period of six months. So, new customers are probably already looking for your business in this way.
“It is too difficult”
This objection is merely an assumption, because mobile payments have now been made very easy to implement and use. They are designed to be simple. If you are stumped, you can contact a mobile payment provider for help.
Connecting your business
When adding a mobile payment system to your franchise, you can communicate with a POS system and your staff from wherever you are (e.g. if you are out of town or want to check in on the week’s sales figures, but do not have time or money to invest in punch cards). Mobile payment systems can solve these problems and keep businesses up-to-date. They can save time and money and streamline the checkout process for customers. For these reasons, there is no better time than now to add a mobile payment system to your business.
Kristen Gramigna is the chief marketing officer (CMO) for BluePay, a provider of mobile payment processing. She has more than 15 years’ experience in the bank card industry in direct sales, sales management and marketing and also serves on BluePay’s board of directors. Gramigna can be reached via e-mail at email@example.com.