Although businesses are created to make money, accepting payment is a process that is time-consuming and inconvenient. Whether it’s cash or credit, a business has to implement several security protocols to ensure the consumer and the business is protected from fraud, theft or just ordinary mistakes.
Losses incurred from these activities can be quite substantial, especially if there are many transactions a day. Certain of today’s technologies can provide a solution that is beneficial for the consumer and the proprietor of the business.
The integration of Paidiant, a cloud-based mobile wallet and redemption solution, and Menusoft, a Digital Dining restaurant management and point-of-sale (POS) software system, offers several payment solutions for restaurants in particular.
With this integration, a restaurant will be able to use mobile technology to offer redemption to a brand, and configuration to meet the needs of each business. The customer will be able to pay at the counter, on his/her tablet, or through a mobile wallet.
Once the customer downloads the restaurant’s branded mobile wallet app and links his/her preferred payment card to a smartphone or other mobile device, s/he’ll never have to use cash or credit card again.
To initiate the transaction, the customer is presented with a QR code printed on a receipt or on a payment terminal. The customer then chooses any offers or redemptions and selects any of the cards they’ve linked in the system to make the payment.
The system is able to include payments of any tender, offer discounts and issue digital receipts of the transaction.
That Paydiant cloud-based payment processing does not store any information on the mobile device or pass information to the POS system of the business. This ensures that no one will have access to your financial records the next time you go out to eat at a participating restaurant. Handing over your credit card when you go out to eat has become a game of Russian roulette of late, as you never know what’s going to happen before you get it back.
The cloud-based payment solution is an ideal solution for the restaurant and the customer.
"Mobile wallet capabilities add tremendous value in speed, convenience and security for restaurateurs and retailers, as well as for their guests. With Paydiant's solution, that value is delivered without creating new complexities in the payment process. Because Paydiant's mobile wallet and offer redemption platform is a software-only, cloud-based solution, restaurateurs and retailers can accept Paydiant mobile payments and offers using their existing POS infrastructure, and consumers can install and use the mobile wallets on their existing iPhone and Android smartphones," said Chris Gardner, cofounder of Paydiant.
Edited by Braden Becker