• Lee Jones, Managing Director Northern Europe, GSV at Worldline


• 20.12.2021 10:15 am
#payment

Like so many other sectors, the franchisee industry – and quick service restaurants (QSRs) in particular – has been significantly impacted by the Covid pandemic and is in the early stages of recovery. There are various means to support this, and technology is one of them – digitalisation for instance. It is worth noting that the pandemic merely accelerated this trend. For example, in 2019 McDonalds carried out 10% of its sales through Uber Eats in 2019.

Applied to franchising, this translates into upgrading the payments infrastructure with digital means, including the standardisation of payments, to increase revenue. The past 18-24 months have further made this objective a necessity to franchise businesses. This article will review and analyse the importance of standardisation across the franchisee industry and argue that an all-inclusive payment solution is crucial for present sales and future growth. 

Standardising payments is integral for franchisees and their brand image. Omnichannel payment capabilities are part and parcel of a standardised and comprehensive payments solution as they boost the prospect of a frictionless, hassle-free experience for the customer.

Indeed, by implementing these, customers can mix and match different devices at different stages of the payment process whilst completing their transaction – devices such as smartphones, tablets or laptops. For example, a customer can scroll through menus and begin the order safely at home on their computer/laptop, before modifying and completing the order via their smartphone upon arriving at the QSR. 

The benefits of adopting omnichannel capabilities are many for franchisee business owners. For example, it can support brand image and enhance customer retention as they maximise convenience for their customers, who want a seamless payment experience that limits touchpoints. Consumers, in today’s health-aware environment wish to minimise the likelihood of contracting Covid – or any other virus.

If they haven’t already, franchise business owners and/or managers must accept the needs and desires of consumers that continually aspire for contactless payments technology, either to purchase via debit card transactions or through contactless payment solutions via smartphones. 

Scan&Pay is another technology frequently seen across the QSR industry and one that franchisees should consider adopting to increase revenue. Customers are provided with another contactless option, while removing the need for table service for employees. This provides staff with the opportunity to provide more care to customers, increases the time to interact with said customers, fulfilling any further requests and thereby improving the quality of service.

Another obvious benefit is that by scanning a code, customers can place an order instantly, boosting transaction frequency for the merchant and minimising queuing time. As a result, the provider’s payment solution must be resilient for both online and in-store and include the best in class acquiring solutions that enables better cost per transaction and in turn better savings. 

In conclusion, in such difficult times for the service industry, to increase revenue and improve customer retention, franchisees must invest in their payment infrastructure to ensure it delivers a seamless and comprehensive solution to their customers. Such investment is most likely to enhance the brand’s image as well as enabling the highest possible convenience for the customer. 

The payments landscape is constantly changing and merchants, in the ever-popular QSR industry, which is finally getting back on its feet after a tumultuous 18 months, must keep pace with these changes. We are in a new era for digitalisation – one that is both exciting and challenging for online and in-store retailers – and getting the right infrastructure to maximise payment efficiency is a must.