Mobile payments on the rise in the hospitality industry

Almost everyone owns a smartphone, and almost everyone takes it with them wherever they go. It’s a natural next step to also use mobile phones for payments. Whether to pay for parking, to buy a snack, or pay the fee for a driver’s license: Instead of constantly rummaging through a wallet looking for the right change, it is much more practical to simply make payments using a mobile phone. Mobile point of sale (mPOS) applications are taking hold in the hospitality industry in particular.

Innovative restaurants and cafés are increasingly using new payment functions that make the time-consuming traditional payment ritual unnecessary. Modern cash register systems make payment faster and more efficient, even during peak times.

Three payment options are particularly promising:

● Contactless: In recent years, contactless payment has become an established payment method. Due to their high guest turnover, bars and cafés benefit the most from such systems, which are able to process transactions more effectively. The underlying principle: The smart phone is used to exchange the payment data. For this purpose, the user needs to save payment data such as credit card numbers or PayPal/bank account information in a wallet. Using an app, the smartphone then transfers the information via the Internet or using the short-range functionality NFC at the cashier system. This is accomplished in just seconds.

● Advance payment: Prepayment systems make it possible for customers to place their order online and pay simultaneously. Then they can simply pick up their order rather than needing to wait in long lines. Ideal for takeout and snack sales points.

Mobile ordering: With mobile ordering, guests of bars or restaurants place their order directly using their smartphone. The order goes directly to the bar or the kitchen, which reduces errors and shortens service times. Likewise, the hassle of standing at the bar and trying to get the attention of the bartender is no longer necessary.

Mobile payment systems in taxis, hotels, and airplanes

Faster payments and less time spent waiting in line are not the end of the advantages of mobile payment systems. The real jewel of the smart cashier system is certainly the unprecedented access to detailed customer data. Restaurant operators thus have the possibility to monitor overall trends as well as the behavior and preferences of their guests.

But putting this benefit to one side, mobile payments are anyway growing in popularity in the hospitality industry. A few examples:

● Since 2016, all taxis in London have card payment machines for all commonly used systems. It is hoped that this will take some of the wind out of Uber’s sails.

● More and more resorts offer mPOS systems that guests can use to comfortably order and pay for drinks while they play golf or relax in the pool or spa.

● Airlines are also using mPOS devices to allow seat upgrades, refreshments, and premium entertainment all on demand by smartphone.

Payger makes mobile payments with cryptocurrencies possible

One thing is certain, however: Payments with Bitcoins, Dash and the like will become even easier in the future with smart wallets like Payger. The first Payger merchant plugin is in development for Woocommerce, the leading WordPress e-commerce platform used by more than 70 per cent of all online shops in the world. The same is true for the Payger API and Merchant Services. The mid-term goal of the developers of Payger is to provide a mobile payment ecosystem for all leading cryptocurrencies. The launch of the associated Payger App (mobile wallet) is planned for the winter of 2018.

Bottom line

In the coming months and years, mobile payments are likely to become ever more present, in Germany as well. As a result, in restaurants and the hospitality industry in particular, modern cash register systems will be able to demonstrate their advantages to the full through faster service, better data, and greater customer satisfaction. @Payger, a pioneer in mobile payments using cryptocurrencies, is ready to provide these services.