Digital Transactions magazine had a great article in their December 2020 issue on how the shift to remote payments has accelerated during the pandemic. This transition was inevitable, but the Covid-19 pandemic drastically and suddenly transformed how we operate and function including getting meals at restaurants, and consumers eagerly moved to adopt these methods.
The article highlighted survey data from Mastercard that says more than 51% if US consumers were using some sort of contactless payment method with 30% starting due to Covid-19.
As remote and digital payments increase, restaurants are adopting light touch and touchless solutions throughout their restaurant operations including for payments. Giving restaurant guests the freedom to choose light touch or touchless payment options is a win-win for both the consumer and restaurant. Customers get more flexibility to pay when, where, and how they prefer, and businesses win through saving the time, risk, and labor costs associated with in-person payments.
The article goes on to provide five ways to make the shift go smoothly including 1. offering self-serve options, 2. walking customers through the transition, 3. engaging with your customers in the ways they prefer, 4. helping remote workers remain productive and 5. considering remote-specific compliance issues. You can read the full article here.
With some other news from Mastercard, as reported by pymnts.com the Take Aways from Mastercard's Holiday Spend Data report suggests that, “if the season was measured by traditional standards”, overall retail spend was up 2.4%, with eCommerce accounting for 19.7% of overall retail sales. This is more evidence of the digital-first economy and that consumer affinity for digital transactions is here to stay.
Looking to meet the shift in diners looking for remote and digital payment options? TableSafe was an early leader in the digital payments’ movement for restaurants, having partnered with leading POS solutions and developing the first ever (and only one patented), folio-enclosed payment device that handles both touchless (QR code) and light-touch, EMV credit card payments as well as traditional cash and gift cards. Learn about the TableSafe Advantage here.