The COVID-19 pandemic has forced merchants large and small to rethink their business models, especially restaurants, which have been forced to shutter dining rooms in response to state and local shelter-at-home and dine-in closure orders.
The question on the minds of many restaurant owners is how to continue ringing up sales without impeding the safety of staff and customers, or negatively impacting their bottom lines? The opportunity presented for ISOs and their sales agents is to offer restaurant clients and prospects a truly contactless payment solution that works over the phone as well as in person.
eInvoicing / text invoicing from Valor PayTech helps ISOs and agents deliver these solutions to merchants. Imagine a pizza shop receiving a phone call and sending a text or email with a link to pay, rather than waiting for a customer to find their card, or requesting they pay in person.
eInvoicing is well suited for restaurants, as many now rely on phoned-in take-out orders to keep their doors open. The market research firm NPB Group reports take-out orders at major restaurant chains rose by 138% during the third quarter, compared to the same three months of 2019.
And there’s probably no better time than now to sell restaurants cash discounting which Valor built into the eInvoicing technology. The appeal of paying next-to-nothing for payment processing is simply too great, especially as restaurants experience the profit squeeze from declining eat-in sales and rising overhead costs.
eInvoices are digital invoices which restaurants can send take-out customers. Invoices are sent using SMS with hyperlinks allowing customers to make payments from the comfort of their homes. A non-cash charge or surcharge can easily be implemented with each SMS payment request. Once a payment is approved, the restaurant and customer are notified, and the takeout order can be prepared.
Key merchant pain points addressed by eInvoices are errors associated with taking card numbers over the phone, and PCI compliance hassles, since card numbers are never handled by restaurant staff. Consumers will like eInvoicing, too, because it offers the security of knowing their card numbers are safe, and minimizes contact with restaurant staff.
The best part for restaurant owners is that by using this omni-channel solution, repeat customers can provide their phone number to the employee over the phone and use the same payment method as last time.
If you’re an ISO or agent interested in making more sales to restaurants, you need to start thinking in terms of payment solutions that respond to today’s unique market dynamics. eInvoicing with cash discounting/surcharging from Valor PayTech puts safety and savings first, making it a winning proposition for restaurants and customers alike.
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