For almost all of February, China has battled to contain the novel Coronavirus that causes the disease COVID-19. This has lead the economy to nearly being shut down. Now that the virus has continued to spread to other nations, restaurants around the globe are beginning to suffer. As sales are declining, we'll explain how some are altering their operations.
On September 25, 2019, the merchant services company Square announced new pricing for their customers to take effect November 1. In the email, Square noted that their flat 2.75% pricing for tapped, dipped, and swiped transactions would now be changing.
80% of small-business data breaches are associated with insecure implementation and/or servicing by point-of-sale (POS) integrators and resellers, according to a recent statistic from Visa. For businesses like yours, the QIR program allows you to easily identify and engage a qualified professional to install and support PA-DSS validated payment applications such as point-of-sale systems. The once-optional program is now becoming a requirement for businesses.
Restaurant owners have hesitated to upgrade from cash registers to point of sale platforms because many worried that technology would get in the way of hospitality. But 73% of restaurant-goers agree that technology improves the restaurant experience.
So how has the restaurant point of sale system evolved, and what’s next for this central piece of technology?
It’s no secret that the restaurant industry is rapidly changing and technology has played a major role. As online ordering evolved to become easier for consumers, its popularity has skyrocketed. Just as consumers demand the convenience of anytime, anywhere, from retailers, they have grown to expect the same from their favorite restaurants. Dining in may not be for everyone, with the fast pace of consumers’ busy lives, the ability to order ahead and arrange for delivery or pickup when it’s convenient is something they value.
By 2020, Restaurants that won't offer online ordering & delivery will lose over 70% of their customers.
Check out our info-graphic below to see how technology has already changed the restaurant industry and what is expected in the near future.