What are the Benefits of mPOS Devices for Restaurants?

mPOS Device for Restaurants

Restaurants can benefit from the integration of mobile points of sale (mPOS) in their operations to achieve a high level of service and a competitive edge over other dining establishments. The main way they can achieve these goals is by improving the customer dining experience, which can be done by streamlining the ordering and payment processes.

mPOS solutions enable restaurants to accept credit cards, ewallets and mobile money payments via a mobile device, such as a tablet or smartphone, instead of at a legacy cash register.  With their integrated software, mPOS devices serve as payment card readers, or mobile wallet payment screens, bringing benefits to restaurants and customers alike.

mPOS devices help restaurants streamline processes and improve customer satisfaction

72% of guests believe restaurants that incorporate technology provide increased convenience, according to the National Restaurant Association.  Due to the nature of the service provided at restaurants and the traditional way these businesses run, restaurants stand to gain from the various benefits of mPOS technologies incorporated in their processes, as well.

Restaurants and restaurant-goers can enjoy a large range of benefits that include the following:

1. Increased convenience

mPOS systems enable digitizing and streamlining the dining experience.  Servers can take the orders on the mPOS device, which can help avoid confusion.  A simple tap on the screen ensures that servers take accurate orders, doing away with the pad-and-pen approach, which is often the source of time-consuming mistakes and irritation.

With mPOS devices, the servers do not have to run back and forth between the table and kitchen to place orders.  They can simply send the order off to the kitchen, where it is printed for the cooks.  In restaurants with different or wide-spread serving areas, this is especially beneficial as it facilitates a more efficient serving process (and a less stressed server, as well).

2. Quicker payments

Without mPOS devices, the payment process at a restaurant is inefficient and time consuming, as wait staff need to:

  • present the check to the customer
  • take the payment method to a stationary POS system
  • wait in line for other servers to complete other customers’ payments
  • return to the diners with the payment method and confirmation

With mPOS devices, payment is done in a at the table in a single step, and they provide prompt payment confirmation on screen, which significantly cuts down the time required to complete the transaction.

3. Increased Security

mPOS systems do not store credit card, mobile wallet, or mobile payment data on their devices, and they maintain security standards of the PCI DSS. They also have SSL encryption of payment details, offering customers a high level of protection and minimizing security breaches. With customers paying at the table, their payment methods are in their possession the whole time, cutting down on the chances of identity theft.

4. Increased customer satisfaction, which translates into more repeat customers

68% of restaurant goers believe that server handheld tablets improve their dining experience, according to Toast’s 2016 Restaurant Technology Industry Report. An mPOS-powered process streamlines service, lowers the chances of mistakes, decreases waiting times from order until food receipt, and offers a high level of payment security.  These benefits increase the satisfaction of guests, which translates into more repeat customers, an obvious benefit to any business.

5. Increased Profits

Restaurants with mPOS solutions benefit from higher sales thanks to the increased efficiency of operations. With service-time decreased thanks to fewer trips by servers back and forth to the kitchen and to a stationary POS, restaurants can turn tables faster without decreasing the time the guests enjoy their meals. Improved efficiencies also enable restaurants to employ fewer waiters, cutting down on excessive HR costs and increasing profitability.

6. Easy to accept popular payment methods such as EMV chip cards and mobile wallets 

EMV cards equipped with chip technology are replacing traditional magnetic strips and offering increased security to credit card holders. Despite obvious benefits, only 30% of retailers in the US have installed EMV technology readers due to the high costs of software, hardware and integration.  This is despite of the fact that, 80% of the issued credit cards are EMV chip powered.  NFC powered mobile wallet payment usage is also still in its infancy, with only 19% of smartphone holders using them on a regular basis in 2016, according to eMarketer.  Market acceptance is projected to reach 31% by 2019.

mobile payment forecast

mPOS systems enable restaurants to accept these payment methods, which are increasingly gaining popularity, at a relatively low cost compared to stationary NFC and EMV consoles.

Improve your chances of success

Some of the key reasons restaurants fail are because of poor customer service and inadequate management capabilities.  mPOS technologies offer a low-cost method of improving efficiencies and increasing table turn time while simultaneously ensuring a high level of customer service and security.  Is it therefore not surprising that 72% of restaurants are seeking out mPOS systems and that the total number of mPOS terminals is poised to quadruple itself between 2015 and 2019.  Don’t be left behind – look into integrating mPOS technologies at your restaurant, today.

 

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