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Why it’s time to ditch cash payments and embrace Credit Card Processing in the hospitality industry

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Mika, Staff Writer

Friday, 7th May 2021

If your business is in the hospitality industry, then there’s a good chance the items on your menu will cost more than what can be paid for in loose change. As a result, your customers will likely want to pay for their orders via electronic payment methods such as a credit card as it’s far more convenient. 

But to be able to accept non-cash payments via credit, debit or any other form of electronic payment, your business requires a card processing provider. This will allow you to take card payments in your restaurants, as well as to accept online payment methods for your delivery or table booking service. 

Whether you’re running a food truck or cooking up some delicious sushi, take a bite out of our guide to credit card processing for the hospitality industry to find out more. 

Card processing

What is Credit Card Processing?

The easiest way of explaining credit card processing (also known as card processing or a merchant account), is that it’s a dedicated account that holds funds from customer transactions. 

Credit card processing means your business can accept far more payment methods including credit cards, debit cards and all other forms of electronic payments.

Once the funds have cleared, they will then be transferred into your business bank account, which normally happens at the end of each day. The system is designed to add security for businesses and customers alike. 

There is a small charge applied to each purchase with credit card processing. However, what you get in return is far more flexibility with regards to how you do business. With so many payment options available these days, accepting as many as possible will mean you don’t lose out on custom. It also means your business is a lot less likely to become a victim of fraud.

Card Processing

Hospitality Credit Card Processing 

In recent times we’ve seen a huge shift towards cafes, restaurants, takeaways, coffee shops and more offering online purchases for the first time. While lockdowns certainly sped up the popularity of being able to order food online, with the power of the internet the switch was always going to be inevitable.

Whether your business is under restrictions or if you are creating a new venture, it’s essential your customers can pay for your goods or services securely using online payment methods. As credit card processing is geared towards online purchases as well as in-person ones, it’s highly recommended. 

After all, should a similar situation happen in the future and you currently rely solely on cash payments made in person, this could significantly reduce your business turnover. But if you’re able to accept secure online payments, you’ll be able to carry on trading through your website, delivery apps or over the phone - even if your restaurant is closed.  

Why is Credit Card Processing important?

When customers purchase from you, they expect their transaction to be safe and secure. In addition, they may want to pay with a variety of payment options which a regular bank account isn’t designed to facilitate. 

Credit card processing is specifically geared towards handling consumer purchases, including those made within the hospitality industry. 

Ultimately, card processing is going to help grow your business because it gives customers more options. Credit card processing also signifies trust for customers due to the level of security it provides when entering sensitive data into your website, over the phone or when dining with you in person. 

The service is also going to make your accounting far more straightforward too. This includes when it comes to reconciling your accounts, which is when your accountant checks your bookkeeping records with your actual business bank account. Since your merchant account will only transfer incomings into your bank account, this makes it easier to distinguish profits from losses.  

Features to look out for with hospitality Credit Card Processing 

  • Hospitality specific packages

  • Works in conjunction or alongside EPOS

  • Payment transfer time (i.e daily, weekly etc)

  • Quick payment acceptance time to avoid hassle for customers

  • The ability for customers to book a table/order takeaway online

  • Availability of technical support

  • Explanation of fee structure

  • Company approval ratings

Card processing

How can I get Card Processing for my hospitality business?

Say goodbye to cash with Credit Card Processing - the smart way to make payments!

Are you interested in getting card processing for your business? Or perhaps you are looking to switch from your current provider? You can find Card Processing for all industries including the hospitality trade with Bark. 

All you need to do is tell us a little about your business including where you’re based, what your business offers and how much turnover your business processes per month. This will help us align the best card-processing providers for your needs so they can get you up and running. It’s as simple as that! Though, we’ll still leave the cooking up to you.

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The average rating for Bark Card Processing Services is 4.77, based on 6,364 reviews.

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based on 6,364 reviews

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