In the wake of the pandemic, people have learned that our most valuable commodities are time, public health, and security. The way consumers want to pay has quickly shifted. Thanks to the quick adaptation and innovation by payment industry leaders like PAX Technology, Inc., restaurants have implemented multiple options for consumers to take control of their transaction experience.
Touchless payment methods like virtual wallets, curbside pickup, and self-ordering/checkout have become the expectation of consumers today. Nearly 57% of Americans prefer a business that offers touchless payment options versus companies that don’t.
While many restaurants, large and small, continue to utilize a traditional, fixed-mounted payment solution that works alongside an electronic cash register (ECR), new and evolving ways to order and pay are becoming the new norm in the restaurant industry.
Many casual dining establishments have placed payment systems at the table for convenience, allowing the consumer to pay more conveniently. By doing so, restaurants have:
- Reduced the wait time for transactions.
- Allowed consumers to have greater security of their credit cards.
- Allowed consumers to divide the bill the way they want to with fewer mistakes.
Payment systems at the tables also allow consumers to plug in their account information to get their loyalty rewards. With Mobile Point-of-Sale Systems (mPOS) to tabletop solutions, PAX Technology Inc. has endless options to fit your needs.
Online Ordering/Take-Out/Curbside Pickup
While online ordering/take-out is a staple in the restaurant industry, usage since pre-pandemic has increased 44% and is projected to grow another 21% by 2025. Online ordering evolved even further during the height of the pandemic to include curbside pickup where customers do not even need to enter the restaurant. The food is brought directly to your vehicle, and you can either pre-pay online or through a mobile payment device provided by the restaurant.
To maximize their reach, many restaurants partnered with third-party delivery services to meet consumers where they are. However, those third-party delivery services, while convenient, can mark the pricing up to 91%, and the customer experience is now in the hands of the third party.
The growing demand for take-out and delivery has encouraged restaurants to utilize applications that enable them to own and control the customer experience for online ordering. PAX Technology, Inc. has developed a solution for restaurants in the form of Retail + Restaurant Online Ordering Management (ROOM).
“Our (PAX Technology, Inc.) ROOM solution enables restaurants to control and own their brand reputation, bridging the gap sometimes caused by third-party delivery services. By keeping ordering systems in-house, restaurants can reduce the risk of chargebacks, create a stronger connection to their customer base, and create an overall better experience,” said Heather Hatch, VP of Business Development.
Self-ordering is a relatively new trend that is quickly gaining momentum. Consumers order and pay for their meals all through one device. There is excellent efficiency within the self-ordering method that allows the consumer to control the transaction time. By using self-ordering kiosks, consumers reduce their order times by 40%.
“PAX Technology, Inc. has developed multiple variations of kiosks that are easy to use and easy to brand. Self-ordering kiosks also allow restaurants to create a consistent experience during the transaction,” said John Arato, SVP of Retail Solutions. Restaurants like Mcdonald’s have reported a 5-6% increase in sales due to a consistent experience enabled by self-ordering kiosks.
While take-out and delivery saw a significant increase due to the pandemic, drive-thru traffic rose 61% from February 2020 to November 2021. Now, many players in the QSR space are re-designing their drive-thrus to include more lanes or even opening drive-thru-only concepts.
“Whether restaurants are running their own payment application, using a third-party Apple or Android tablet, or need a semi or fully integrated solution, PAX has a payment terminal to suit either need,” said Tony Fernandez, SVP of Product Marketing.
The OTF PAX Solution
Providing multiple payment options and configurations to consumers is no longer a benefit but a necessity. As the first payment manufacturer to introduce Android payment solutions to the North American market, PAX Technology, Inc. is the leader in enabling a complete payment ecosystem for businesses large and small. With an Android solution, enterprises unleash the power to take payments and manage their business. To learn more about how OTF PAX can help you meet your customer and business needs, please email our sales team at: email@example.com
Source: PAX USA