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07/08/2009 -
In a time when profit margins are tight and consumers are cutting down on discretionary spending, it is more important than ever for restaurants to maintain or increase their customer base and sales.To do so, a restaurant must focus on fast and efficient service as well as meeting customer needs - both of which can be accomplished by offering credit card processing.
Payment card processing has a number of benefits. For one, customers will appreciate the speed and convenience of being able to pay by credit or debit card, allowing them to split their bills and add tips easily without counting coins or asking for change.
Yet speeding up the payment process for customers also benefits the restaurant, which will see a higher turnover rate and will therefore be able to accommodate more clients.
In addition, limiting payment options to just cash can do damage to not only a restaurant's reputation but also its bottom line, as it will force the increasing amount of consumers who do not carry cash to take their business elsewhere.
Furthermore, customers who know they can pay by credit or debit card will be less hesitant to buy the more expensive wine or entree, because they are not limited to a specific amount of cash.
Restaurants interested in implementing credit card processing should find a provider that allows reporting features for tips and bar tabs, as well as tip editing capabilities.
