One area of potential savings that is often overlooked are the sizeable fees charged for taking payments. With an average transaction fee of 1.79%, these charges cost venues thousands of pounds each year.
Which is why OrderPay has introduced a market-leading rate of just 0.99% in a bid to support the hospitality industry through this tough period. In fact, this rate could help save the sector a total of £259,500,000 in 2022.
Flexibility is key
Like many other providers, OrderPay filled an urgent need to take digital orders and payments during the pandemic, with many venues and customers thinking it was a temporary fix rather than a dramatic change to the way we all order and pay at pubs and restaurants. What we’ve seen as an industry, however, is that technology has huge potential to improve customer experience and save venues money if – and it’s a big if – it is flexible. There is no one-size-fits-all approach and tech solutions need to be versatile while offering a pricing model that helps hospitality operators grow rather than shrink their margins.
This versatility answers whatever questions customers may have: some customers love mobile ordering. Others hate it. Some don’t mind downloading an app. Others much prefer being taken to a website.
Meeting mixed demands
The future for hospitality operators is not purely digital but adapting to suit the mixed demands of your customers. For certain venues this means taking some orders via an app and others in person. For other venues, this means keeping their service ‘old school’ but simply taking payments digitally. What’s clear is that any solution needs to complement and enhance what already makes venues great rather than replace existing service models completely or try to reinvent the wheel.
“But technology takes away the personal touch!”
It’s up to tech providers to prove the doubters wrong when faced with this pushback. Again, it’s about flexibility and giving the customer a balance between digital and personal interactions. Digital payments have seen staff earn up to 12 times more tips, and with tables turned nine minutes faster and bills paid in under 15 seconds, the time saved not hunting down the card machine can be used spending more time with guests during their meal.
Find out how you could be paying just 0.99% per transaction by clicking here.