Almost three-fifths (58 percent) of those surveyed said that preparing for EMV was a top concern. Half of the executives plan to invest in new payment technologies—like mobile wallets—while 46 percent want to add mobile POS (mPOS). Rounding out the top five are making POS systems PCI-compliant (41 percent) and building a stronger POS platform (36 percent).
As a value-added reseller (VAR), this information can be valuable as you talk to current and prospective clients. So let's take a look at how you can turn these survey results into opportunities in POS for restaurants.
Many restaurants are not yet EMV-compliant
For business owners in the lower tiers, EMV adoption rates are still quite low. That's because many merchants delayed upgrades in the last months of the year following the October 2015 transition. Some restaurant owners also reported delays in getting POS solutions certified for EMV.
But the reasons for putting off EMV upgrades are no longer valid. Restaurant owners should know that maintaining non-EMV-compliant POS technology could cost them in the long run. Adding chip card capability means more secure transactions, fewer fraud liability concerns, and more flexible payment options for customers.
Mobile wallet adoption is growing
Giving restaurant-goers the option to pay with mobile wallets—think mobile apps or contactless technology—means faster checkouts and happy customers. It also makes for a more secure transaction, because tokenization masks credit and debit card numbers, and the entire payment process is encrypted.
mPOS improves the customer experience
There's no doubt that mobile options improve flexibility for both restaurant staff and customers. From quick-serve joints to five-star establishments, mPOS has a place. Here's one example: Although beacons first found favor in retail stores, this proximity-detection technology offers plenty of upside in POS for restaurants. Business owners can install beacons at different locations in the building, giving potential patrons real-time information on how busy the restaurant is. Beacons will also deliver custom menus based on a customer's preferences, offering discounts to first-time diners and rewarding loyal customers.
Restaurant owners need help with PCI compliance
While PCI compliance is one of the less enjoyable aspects of running a restaurant, there's no getting around it. But it doesn't have to be a burden.
A common mistake among restaurant owners is combining a business wireless network with the one used by customers. Or allowing a POS system to run on the same wireless network. Either can doom PCI compliance efforts, leaving sensitive data unprotected.
If you haven't worked with this customer base before, you're sure to find these topics useful in starting a conversation about POS for restaurants.
As a VAR, is POS for restaurants a part of your current business plan?