Implementing a system with cashless payments is necessary to offer the most convenient purchasing experience for your customers and employees. Cashless payments are the preferred method of completing payments and receive regular enhancements for retail and food service operations. Accommodating customers’ schedules incentivizes them to visit your location more frequently, and often obtain revenue generation from an increase in sales.
The reason a system with cashless payments is necessary for businesses include:
Cashless Payment Solution for Employees
The use of cashless payment systems for employees has proven to increase revenue and participation from employee sales by upwards of 25%. These solutions offer convenience to your staff and return back valuable break time lengths.
ID badge scanning at the point of sale implementation is continually seen in locations that conduct employee sales. Known as employee payroll deductions, these payments allow your staff to use their ID badge to complete transactions from their food service or retail locations. Allowing cashless payments within your cafeteria or gift shop operations is a proven method to improve incentivization for your employees to make purchases more often.
Our payroll deduction software, ArbaRapidPay, allows ID badge scanning payments in addition to offering full integration for your POS data. This will save managers time by neutralizing the need for on-hand tracking of sales and inventory and obtaining a more comprehensible data review process. Our payroll deduction software automatically generates your deduction export file in your POS system that exports on a 24-hour cycle. This automates a once tedious process and maintains tighter control over your data.
Customer Cashless Payment System
ID badge scanning is a useful system with cashless payments, but not the only form that you may incorporate. Non-staff customers regularly use other software with cashless payments to obtain a faster transaction process as well.
Here are a few to note:
- Credit Cards are cashless payments and are still in use. There are different uses for credit cards that obtain the benefits of cashless payments, including NFC and online payments.
- NFC Payments, or “Near Field Communication” payments, allow customers to complete transactions via a tap-to-pay terminal. These are popular with a credit card and mobile phone manufacturers.
- Digital Wallets allow payment completion via a mobile device; these sync with customers’ bank accounts, and offer the fastest checkout solutions for non-staff customers.
Other Cashless Payment System Applications
Both online and self-ordering POS software are requested to include a cashless payment solution. Incorporating these payments within your other points of sale is necessary for accommodating multiple preferences amongst your audience.
Self-service kiosk POS is a regular addition to food service and retail operations and allows order placement using a touchscreen terminal. When paired with cashless payments, self-ordering software obtains a fully contactless experience and incentivizes frequent visits. Our self-service ordering software integrates your sales and inventory data with your POS database, negating the need for on-hand tracking. This will save managers time documenting their sales and inventory and incorporates revenue-generating solutions within your on-premise locations.
Online ordering is the most preferred method of placing orders and accommodates multiple preferences within a single solution. Cashless payments are necessary for online ordering software to ensure the most optimal form of online payment is being incorporated. Also integrated with your sales and inventory data, our online ordering solution makes automatic adjustments to your database after each transaction. This incorporates a solution with little extra labor, aside from increasing the scalability of operations.
A system with cashless payments is essential for improving your operational efficiency and incentivization to your customers and employees. Cashless payment companies regularly offer these solutions, but integration plays a major role in the functionality of cashless payments that are rarely included in other providers.
Author: Max Jovanovic
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