How Hotels and Restaurants Can Modernize Their Payment Processes
Much of today’s business landscape has changed thanks to digital technology, and the dining and hospitality industries are no exception. Even if both of these industries historically rely on the human touch, the most successful and competitive players are the ones who’ve embraced technology and incorporated it into their wider operations. One aspect where it’s made a huge difference is in the customer payment experience.
As hotels and restaurants in countries like the Philippines have come to know for themselves, being able to integrate modern payment methods into the way they do business is highly necessary to meet the evolving demands of both their domestic and international clientele. Such an investment is not without its benefits; hoteliers and restaurateurs typically enjoy increased operational efficiency, reduced transaction times, and minimized human errors thanks to modern payment solutions. These innovations can also draw in an increasingly tech-conscious demographic—one that’s directly responsible for the success and survival of the dining and hospitality industries in the aftermath of the COVID-19 pandemic.
If you run a hotel, resort, café, restaurant, or other establishment that operates in one or both of these industries, you’ll want to distinguish your brand in a good way by modernizing your payment experience. Here are some suggestions that will help you do exactly that:
1) Adopt Contactless Payment Options
Contactless payments have become more popular among today’s consumers due to the seamlessness, convenience, and safety these all afford compared to cash payments. To that end, many dining and hospitality businesses in the Philippines have turned to Maya Business’s Maya credit card terminal to accept a variety of contactless payments from customers.
The flagship Maya Terminal device can accommodate digital payments from QR codes and mobile wallets as well as debit and credit card operations. Client users have found it extremely helpful in streamlining operations, protecting their businesses from fraud, and reducing the margin of error that’s common in manual payment experiences.
A customer will appreciate having varied contactless payment options whenever they book a reservation or buy items from your establishment. Your ability to provide them with several choices will also showcase your business’s adaptability and care about your customers’ convenience. Make contactless payments widely available, and you’ll be able to position your hotel or restaurant as a forward-thinking business attuned to the preferences of today’s discerning clientele.
2) Integrate Advanced Systems for Optimized Operations
On top of providing contactless payment options, you’ll also want to modernize your actual point of sale (POS) system. If your establishment is based in the Philippines and you’re looking for an advanced, yet easy-to-learn POS system that seamlessly integrates your payments, inventory management, and customer data, you’ll be well-served with the Maya POS terminal. You can depend on such a system to perform the duties expected of a POS, as well as help you derive deeper insight into your customers’ needs and preferences through its data analytics features.
What if your POS could tell you exactly which dishes are popular on weekends versus weekdays, or which of your rooms are most frequently booked during the holidays? With these insights at your disposal, you’ll be able to execute more data-driven decisions and potentially boost your establishment’s profitability. Such a capability will justify your initial expense on a new Maya Terminal POS system and device.
3) Offer Online Reservations and Prepayments
Consumers now favor dining and hospitality establishments that offer online booking facilities, as booking online is often the more convenient option. Online booking simplifies your customers’ planning and guarantees them a spot at your establishment. If they can benefit from prepayment discounts or packages, all the better.
Entice your customers by letting them reserve tables or rooms online, and offer prepayment perks when available. This 24/7 booking window will also create new revenue opportunities for your business, for example from an international traveler who’s booking a room from a different time zone or from a family reserving a weekend dinner spot while on their lunch break. For sure, this round-the-clock availability—and trustworthy reservation and prepayment processes to accompany it—will make your establishment one of the best choices to book.
4) Cater to International Guests with Currency Conversion
With its rich history and stunning landscapes, a country like the Philippines draws in tourists from all across the globe. Now that travel has opened up again, hotels and restaurants can expect to cater not just to local tourists, but international guests as well. That also means that businesses in the dining and hospitality industries must adopt extra flexible payment methods, including options for seamless currency conversion.
If you already know that you have a strong international market, invest in dynamic currency conversion options. This will allow your guests to view your prices and make payments in their home currency with ease. Transparent rates and clear communications can also help international guests feel more secure about their transactions with your business. You can also provide real-time rate accuracy by partnering with trusted conversion service providers, which will minimize potential conflicts or misunderstandings. Ultimately, your ability to accept multiple currencies will help you stand out in the market and ensure your guests’ full satisfaction as global tourism thrives once more.
5) Encourage Customer Loyalty through Rewards Programs
Whether it’s a free dish after ten visits, discounted stays, or early-bird access to promotions, special rewards programs can turn casual visitors to your establishment into loyal and longtime patrons. For hotels and restaurants, this translates to repeat business and positive word-of-mouth.
Your loyalty programs must be tailored to the preferences of your market. It may make a significant difference to your bottom line if you partner with popular local brands for cross-promotions or celebrate local festivals with special rewards. Bake the rewards into your payment system, for example through rewards points or vouchers for returning customers, and you’ll encourage more guests to bring their business to you.
Enhancing the Human Touch through the Payment Experience
At their core, the dining and hospitality industries are all about genuine warmth, exceptional service, and a heartfelt connection that’s conveyed through food, drinks, and comfortable space. No matter how advanced and fast-paced the world becomes, those values won’t change.
Modernization efforts don’t necessarily contradict a hotel or restaurant’s goal of retaining its human touch. In fact, modernizing a key area like payments will make each visit more convenient and enjoyable to guests—therefore bringing human experiences like celebrations, homecomings, and simple occasions spent with loved ones to the fore.