![\"Total](\"https://www.pymnts.com/wp-content/uploads/2024/07/Total-activity-days-per-month.png\")
Tip management software company Kickfin integrated with Shift4\u2019s restaurant point-of-sale solution SkyTab.
\nThe integration lets restaurants using SkyTab automatically determine tip pools or shares and send payouts straight to employees\u2019 banks, according to a Tuesday (Aug. 6), press release.
\n\u201cAs an all-in-one restaurant platform, SkyTab has helped tens of thousands of restaurants modernize and optimize their operations,\u201d Shift4 Senior Vice President of SkyTab Product Jay Shavitz said in the release. \u201cKickfin is a valuable addition to our marketplace, helping SkyTab customers realize significant time and cost savings by simplifying and improving the tip payout process.\u201d
\nThe integration helps restaurants develop \u201chighly complex tip policies\u201d and calculate tips based on roles, shifts, hours worked, points, sales categories and more, letting SkyTab customers distribute tips that arrive in employees\u2019 bank accounts within seconds, the release said.
\n\u201cWith fewer cash transactions than ever before, digitizing tip management has become table stakes,\u201d Kickfin co-CEO Brian Hassan said in the release. \u201cNow the question is: Are you digitizing tip management in the best possible way? This integration gives thousands of SkyTab customers the power to fully automate their tip distribution process so they can save time, reduce risk, ensure compliance \u2014 all while making life easier for restaurant managers and their employees.\u201d
\nHassan told PYMNTS last year that consumers can barely buy a cup of coffee anymore without being asked to tip, a trend that businesses can take advantage of with digital tipping platforms that support instant payouts.
\nWith the proper type of platform, the surge in tipping can be a boon for restaurants because they can pay workers immediately, leading to a higher take-home wage, which is what many employees are after.
\nMeanwhile, PYMNTS wrote earlier this summer that consumers were growing frustrated with the surge in tipping and were taking to social media to complain.
\nThe PYMNTS Intelligence report \u201cTipflation Is Changing Spending Habits of 1 in 6 Consumers\u201d noted the change in tipping habits headed into 2024, finding that 29% of consumers believed tipping was \u201cout of hand\u201d and 17% of consumers reduced spending due to tips.
\nThe post Kickfin Teams With Shift4 to Automate Restaurant Tip Payments appeared first on PYMNTS.com.
\n", "content_text": "Tip management software company Kickfin integrated with Shift4\u2019s restaurant point-of-sale solution SkyTab.\nThe integration lets restaurants using SkyTab automatically determine tip pools or shares and send payouts straight to employees\u2019 banks, according to a Tuesday (Aug. 6), press release.\n\u201cAs an all-in-one restaurant platform, SkyTab has helped tens of thousands of restaurants modernize and optimize their operations,\u201d Shift4 Senior Vice President of SkyTab Product Jay Shavitz said in the release. \u201cKickfin is a valuable addition to our marketplace, helping SkyTab customers realize significant time and cost savings by simplifying and improving the tip payout process.\u201d\nThe integration helps restaurants develop \u201chighly complex tip policies\u201d and calculate tips based on roles, shifts, hours worked, points, sales categories and more, letting SkyTab customers distribute tips that arrive in employees\u2019 bank accounts within seconds, the release said.\n\u201cWith fewer cash transactions than ever before, digitizing tip management has become table stakes,\u201d Kickfin co-CEO Brian Hassan said in the release. \u201cNow the question is: Are you digitizing tip management in the best possible way? This integration gives thousands of SkyTab customers the power to fully automate their tip distribution process so they can save time, reduce risk, ensure compliance \u2014 all while making life easier for restaurant managers and their employees.\u201d\nHassan told PYMNTS last year that consumers can barely buy a cup of coffee anymore without being asked to tip, a trend that businesses can take advantage of with digital tipping platforms that support instant payouts.\nWith the proper type of platform, the surge in tipping can be a boon for restaurants because they can pay workers immediately, leading to a higher take-home wage, which is what many employees are after.\nMeanwhile, PYMNTS wrote earlier this summer that consumers were growing frustrated with the surge in tipping and were taking to social media to complain.\nThe PYMNTS Intelligence report \u201cTipflation Is Changing Spending Habits of 1 in 6 Consumers\u201d noted the change in tipping habits headed into 2024, finding that 29% of consumers believed tipping was \u201cout of hand\u201d and 17% of consumers reduced spending due to tips.\nThe post Kickfin Teams With Shift4 to Automate Restaurant Tip Payments appeared first on PYMNTS.com.", "date_published": "2024-08-06T17:11:37-04:00", "date_modified": "2024-08-06T17:11:37-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2023/06/restaurant-tips.jpg", "tags": [ "automation", "digital disbursements", "digital transformation", "disbursements", "faster payments", "food and beverage", "Innovation", "instant payments", "instant payouts", "Kickfin", "News", "PYMNTS News", "QSRs", "real time payments", "Restaurants", "Retail", "Shift4", "SkyTab", "Technology", "What's Hot", "ResTech" ] }, { "id": "https://www.pymnts.com/?p=1973645", "url": "https://www.pymnts.com/restaurant-technology/2024/generation-z-millennial-consumers-engage-digitally-with-restaurants-most-days/", "title": "Gen Z and Millennial Consumers Engage Digitally With Restaurants Most Days", "content_html": "For Generation Z and millennial consumers, interacting digitally with restaurants has become the norm rather than the exception.
\nThis year\u2019s installment of PYMNTS Intelligence\u2019s \u201cHow the World Does Digital\u201d report harnesses insights from a study, comprising more than 67,000 consumers across 11 countries that make up approximately half of the world\u2019s gross domestic product, to understand how they engage digitally throughout their lives.
\n
The results revealed that when it comes to restaurants, young consumers are engaging more often than not. Consumers overall averaged 12.5 total activity days in this sector per month \u2014 that is, they engaged with restaurants online 12.5 days out of every roughly 30 days. Among Gen Z, however, that figure rose to 20.1, and millennials, too, engaged most days, at 18.5.
\nIn contrast, Generation X averaged only 11.1 days, and baby boomers just 5.4.
\nConsumers\u2019 digital engagement with restaurants varies not only depending on their age but also their incomes and where they live. The same \u201cHow the World Does Digital\u201d study revealed that high-income consumers average 14.4 activity days to low-income consumers\u2019 10.2 activity days.
\nAdditionally, those who live in cities engage more digitally. Research from the PYMNTS Intelligence study \u201cConnectedEconomy![\"\u2122\"](\"https://s.w.org/images/core/emoji/15.0.3/72x72/2122.png\")
Monthly Report: The Urban-Rural Health Divide Edition,\u201d which drew from a survey of nearly 2,500 U.S. consumers, revealed that 75% of urban consumers engage with restaurants digitally, as do 46% of suburban residents and 28% of those who live in rural areas.
Digital technologies can also increase spending for restaurants. Findings from the PYMNTS Intelligence report \u201cTracking the Digital Payments Takeover: Can New Use Cases Drive Consumer Use of Digital Wallets?\u201d revealed that when using digital wallets, consumers spend an average of 33% more on restaurant purchases than when not using the payment method.
\nThe post Gen Z and Millennial Consumers Engage Digitally With Restaurants Most Days appeared first on PYMNTS.com.
\n", "content_text": "For Generation Z and millennial consumers, interacting digitally with restaurants has become the norm rather than the exception.\nBy the Numbers\nThis year\u2019s installment of PYMNTS Intelligence\u2019s \u201cHow the World Does Digital\u201d report harnesses insights from a study, comprising more than 67,000 consumers across 11 countries that make up approximately half of the world\u2019s gross domestic product, to understand how they engage digitally throughout their lives.\n\nThe results revealed that when it comes to restaurants, young consumers are engaging more often than not. Consumers overall averaged 12.5 total activity days in this sector per month \u2014 that is, they engaged with restaurants online 12.5 days out of every roughly 30 days. Among Gen Z, however, that figure rose to 20.1, and millennials, too, engaged most days, at 18.5.\nIn contrast, Generation X averaged only 11.1 days, and baby boomers just 5.4.\nA Deeper Dive\nConsumers\u2019 digital engagement with restaurants varies not only depending on their age but also their incomes and where they live. The same \u201cHow the World Does Digital\u201d study revealed that high-income consumers average 14.4 activity days to low-income consumers\u2019 10.2 activity days.\nAdditionally, those who live in cities engage more digitally. Research from the PYMNTS Intelligence study \u201cConnectedEconomy Monthly Report: The Urban-Rural Health Divide Edition,\u201d which drew from a survey of nearly 2,500 U.S. consumers, revealed that 75% of urban consumers engage with restaurants digitally, as do 46% of suburban residents and 28% of those who live in rural areas.\nDigital technologies can also increase spending for restaurants. Findings from the PYMNTS Intelligence report \u201cTracking the Digital Payments Takeover: Can New Use Cases Drive Consumer Use of Digital Wallets?\u201d revealed that when using digital wallets, consumers spend an average of 33% more on restaurant purchases than when not using the payment method.\nThe post Gen Z and Millennial Consumers Engage Digitally With Restaurants Most Days appeared first on PYMNTS.com.", "date_published": "2024-07-09T17:06:27-04:00", "date_modified": "2024-07-09T17:06:27-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/07/restaurants-QSRs-digital-engagement.jpg", "tags": [ "Connected Economy", "ConnectedEconomy\u2122 Monthly Report: The Urban-Rural Health Divide Edition", "digital transformation", "food and beverage", "Generation Z", "How the World Does Digital", "Millennials", "News", "PYMNTS Intelligence", "PYMNTS News", "PYMNTS Study", "QSRs", "Restaurants", "Technology", "Tracking the Digital Payments Takeover:\u00a0Can New Use Cases Drive Consumer Use of Digital Wallets?", "ResTech" ] }, { "id": "https://www.pymnts.com/?p=1959481", "url": "https://www.pymnts.com/restaurant-technology/2024/cardfree-launches-smart-ai-upsell-feature-for-restaurants-hospitality-businesses/", "title": "CardFree Launches \u2018Smart AI Upsell\u2019 Feature for Restaurants, Hospitality Businesses", "content_html": "CardFree has added a new Smart AI Upsell feature to its online ordering platform for the restaurant and hospitality industry.
\nThis feature uses artificial intelligence (AI) and historical ordering data to suggest items that are paired with those that are already in the customer\u2019s basket, prior to checkout, the company said in a Wednesday (June 12) press release.
\n\u201cThe tool leverages the history of flavor trends and ordering preferences that are married together and mines that data to come up with a much more intelligent upsell,\u201d Jon Squire, founder and CEO of CardFree, said in the release.
\nCardFree is making Smart AI Upsell available to anyone, regardless of the vendor they use for online ordering, via application programming interface (API), according to the release.
\nThis is the first of several AI-enhanced updates CardFree plans to add to its Payments, Loyalty and Ordering platforms in the coming months. The company sees opportunities to use the technology to drive operational efficiencies, frequency and larger tickets, per the release.
\n\u201cAs AI progresses, we\u2019ll start to see things like cook times, order frequency, back-end inventory and other critical operational aspects leverage AI, so we\u2019re expanding into those areas with our own products,\u201d Squire said in the release.
\nPYMNTS Intelligence has found that restaurants are making use of technology in a variety of ways, including curbside pickup, mobile order ahead and automation in their operations.
\nConsumers are eagerly embracing these digital engagement capabilities, with more than 146 million Americans now ordering digitally via restaurant apps, websites and aggregator tools, according to \u201cInflation Puts Technology on the Menu for Restaurants,\u201d a PYMNTS Intelligence and American Express collaboration.
\nIn another recent development in this space, Nory said in May that it raised $16 million in Series A funding to expand the use of AI in the hospitality industry. Nory offers an \u201cAI restaurant manager\u201d that offers data-backed insights that help hospitality businesses optimize staffing levels, predict demand, select the right inventory and make other strategic decisions.
\nIn April, Toast made an AI-based Benchmarking tool available to select users, saying the tool will enable leaders to compare the performance of their restaurants and menu categories against aggregated data from other restaurants that use the Toast platform.
\nThe post CardFree Launches \u2018Smart AI Upsell\u2019 Feature for Restaurants, Hospitality Businesses appeared first on PYMNTS.com.
\n", "content_text": "CardFree has added a new Smart AI Upsell feature to its online ordering platform for the restaurant and hospitality industry.\nThis feature uses artificial intelligence (AI) and historical ordering data to suggest items that are paired with those that are already in the customer\u2019s basket, prior to checkout, the company said in a Wednesday (June 12) press release.\n\u201cThe tool leverages the history of flavor trends and ordering preferences that are married together and mines that data to come up with a much more intelligent upsell,\u201d Jon Squire, founder and CEO of CardFree, said in the release.\nCardFree is making Smart AI Upsell available to anyone, regardless of the vendor they use for online ordering, via application programming interface (API), according to the release.\nThis is the first of several AI-enhanced updates CardFree plans to add to its Payments, Loyalty and Ordering platforms in the coming months. The company sees opportunities to use the technology to drive operational efficiencies, frequency and larger tickets, per the release.\n\u201cAs AI progresses, we\u2019ll start to see things like cook times, order frequency, back-end inventory and other critical operational aspects leverage AI, so we\u2019re expanding into those areas with our own products,\u201d Squire said in the release.\nPYMNTS Intelligence has found that restaurants are making use of technology in a variety of ways, including curbside pickup, mobile order ahead and automation in their operations.\nConsumers are eagerly embracing these digital engagement capabilities, with more than 146 million Americans now ordering digitally via restaurant apps, websites and aggregator tools, according to \u201cInflation Puts Technology on the Menu for Restaurants,\u201d a PYMNTS Intelligence and American Express collaboration.\nIn another recent development in this space, Nory said in May that it raised $16 million in Series A funding to expand the use of AI in the hospitality industry. Nory offers an \u201cAI restaurant manager\u201d that offers data-backed insights that help hospitality businesses optimize staffing levels, predict demand, select the right inventory and make other strategic decisions.\nIn April, Toast made an AI-based Benchmarking tool available to select users, saying the tool will enable leaders to compare the performance of their restaurants and menu categories against aggregated data from other restaurants that use the Toast platform.\nThe post CardFree Launches \u2018Smart AI Upsell\u2019 Feature for Restaurants, Hospitality Businesses appeared first on PYMNTS.com.", "date_published": "2024-06-12T15:34:33-04:00", "date_modified": "2024-06-12T15:34:33-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/06/CardFree-Smart-AI-Upsell-online-ordering.jpg", "tags": [ "AI", "artificial intelligence", "CardFree", "hospitality industry", "Jon Squire", "News", "online ordering", "PYMNTS News", "Restaurants", "ResTech", "Smart AI Upsell", "What's Hot", "ResTech" ] }, { "id": "https://www.pymnts.com/?p=1958702", "url": "https://www.pymnts.com/restaurant-technology/2024/menus-fizzled-but-qr-codes-find-favor-powering-pay-at-table-at-restaurants/", "title": "Menus Fizzled but QR Codes Find Favor Powering Pay at Table at Restaurants", "content_html": "Decades old \u2014 tracing its origins back to the 1990s \u2014 the QR code has at times struggled to find its place in commerce and in everyday self-service situations.
\nCase in point: As noted here at the end of last month, QR codes enjoyed a stint of popularity as a digital version of menus \u2026 and then they lost that popularity. Media reports said that many restaurants were pivoting to paper menus, as a result of technical glitches and customer dissatisfaction with scanning the menus and then trying to read them on mobile phones.
\nPYMNTS Intelligence\u2019s own data shows that only 29% of restaurants were offering QR codes to view their menus, a percentage that sinks to about 20% for smaller, independent restaurants. Only 23% of restaurant-goers that we surveyed said that they viewed the experience of using QR menus in a positive light.
\nBut as illuminated by recent announcements by some providers, QR codes are finding appeal for pay-at-the-table settings. With that technology (literally) in hand, restaurant-goers pay for their meals with their phones at the point of sale with a device used by the waitstaff.
\nAt the end of last month Up \u2019n go, which provides pay-at-the-table QR technology to the hospitality sector, said it had notched $1.1 billion in total payments processed and noted that its platform had \u201csettled\u201d over 16 million restaurant checks since its founding in 2017.\u00a0
\nThe company has estimated that using QR codes to dine and pay saves as much as 20 minutes per transaction with the optionality to choose digital wallets \u2014 which we note improves the turnover at the table itself. The more quickly diners eat and pay, the more quickly and efficiently the next diner can come in and be served.
\nThe use of QR codes,\u00a0particularly as a payments option, has had some momentum since the pandemic. As we reported in the fall of 2020, Square launched its QR code-driven Square For Restaurants platform, which allows customers to browse menus, place orders and pay for meals with scans from their phones.\u00a0
\nLast month, NCR Voyix, in collaboration with sunday, a payments solution provider, announced the launch of Aloha Pay-At-Table. The offering enables QR codes to be scanned, for diners to see their bill, split costs and pay. The companies have said that streamlining the payments experience saves 15 minutes from the average visit, which improves the restaurant\u2019s operating efficiencies \u2014 and tips increase by about 10%, due to automatic, precalculated tip solutions.
\nThe post Menus Fizzled but QR Codes Find Favor Powering Pay at Table at Restaurants appeared first on PYMNTS.com.
\n", "content_text": "Decades old \u2014 tracing its origins back to the 1990s \u2014 the QR code has at times struggled to find its place in commerce and in everyday self-service situations.\nCase in point: As noted here at the end of last month, QR codes enjoyed a stint of popularity as a digital version of menus \u2026 and then they lost that popularity. Media reports said that many restaurants were pivoting to paper menus, as a result of technical glitches and customer dissatisfaction with scanning the menus and then trying to read them on mobile phones.\nMenus Fizzle\nPYMNTS Intelligence\u2019s own data shows that only 29% of restaurants were offering QR codes to view their menus, a percentage that sinks to about 20% for smaller, independent restaurants. Only 23% of restaurant-goers that we surveyed said that they viewed the experience of using QR menus in a positive light.\nBut as illuminated by recent announcements by some providers, QR codes are finding appeal for pay-at-the-table settings. With that technology (literally) in hand, restaurant-goers pay for their meals with their phones at the point of sale with a device used by the waitstaff.\nPay at the Table Gives QR Codes Traction\nAt the end of last month Up \u2019n go, which provides pay-at-the-table QR technology to the hospitality sector, said it had notched $1.1 billion in total payments processed and noted that its platform had \u201csettled\u201d over 16 million restaurant checks since its founding in 2017.\u00a0 \nThe company has estimated that using QR codes to dine and pay saves as much as 20 minutes per transaction with the optionality to choose digital wallets \u2014 which we note improves the turnover at the table itself. The more quickly diners eat and pay, the more quickly and efficiently the next diner can come in and be served. \nThe use of QR codes,\u00a0particularly as a payments option, has had some momentum since the pandemic. As we reported in the fall of 2020, Square launched its QR code-driven Square For Restaurants platform, which allows customers to browse menus, place orders and pay for meals with scans from their phones.\u00a0 \nLast month, NCR Voyix, in collaboration with sunday, a payments solution provider, announced the launch of Aloha Pay-At-Table. The offering enables QR codes to be scanned, for diners to see their bill, split costs and pay. The companies have said that streamlining the payments experience saves 15 minutes from the average visit, which improves the restaurant\u2019s operating efficiencies \u2014 and tips increase by about 10%, due to automatic, precalculated tip solutions.\nThe post Menus Fizzled but QR Codes Find Favor Powering Pay at Table at Restaurants appeared first on PYMNTS.com.", "date_published": "2024-06-11T18:30:18-04:00", "date_modified": "2024-06-11T18:30:18-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/06/QR-code-pay-at-table.jpg", "tags": [ "News", "pay-at-the-table", "PYMNTS Intelligence", "PYMNTS News", "qr code menus", "QR Code payments", "QR codes", "restaurant payments", "restaurant turnover", "ResTech", "Up \u2019n go", "ResTech" ] }, { "id": "https://www.pymnts.com/?p=1951730", "url": "https://www.pymnts.com/restaurant-technology/2024/restaurants-reintroduce-paper-menus-amid-customer-complaints-about-qr-codes/", "title": "Restaurants Reintroduce Paper Menus Amid Customer Complaints About QR Codes", "content_html": "In recent years, QR code menus gained popularity among restaurants as a way to streamline service and reduce the need for additional staff.
\nHowever, consumer complaints have reportedly prompted a shift in the industry. Many diners have expressed frustration with QR code menus, citing issues such as difficulty in navigating the menus, concerns about privacy and a perceived negative impact on the restaurant\u2019s ambiance, The Wall Street Journal reported Friday (May 31).
\nAs a result, restaurants are now reverting to paper menus to cater to consumer preferences, according to the report.
\nOne of the main complaints from consumers regarding QR code menus is the need to squint or struggle to figure out their order. For some, navigating the menu on their smartphones feels like a cumbersome task, the report said.
\nPrivacy concerns also play a role in the backlash against QR code menus, per the report. Additionally, some individuals, particularly older customers, face difficulties using the technology itself. The initial step of taking out their phones and scanning the QR code can be a hurdle.
\nThe negative impact of QR codes on check averages and tips for servers has also prompted some restaurants to reconsider their use, the report said. One restaurant group experienced a 10% decrease in check averages when using QR code menus, as diners often failed to scroll through all the offerings.
\nIn response to customer complaints, many sit-down eateries are ditching QR codes and reintroducing paper menus, according to the report. Some establishments stopped using QR codes on menus altogether. Others have adopted a hybrid approach, catering to the preferences of different customers by discontinuing QR code offerings at one location while maintaining them at another or by offering both printed menus and QR codes and allowing customers to choose their preferred method of ordering.
\nWhile the overall sentiment is shifting away from QR code menus, there are still niche uses where they prove beneficial, the report said. For instance, QR codes can provide additional information to interested customers.
\nPYMNTS Intelligence has found that consumers are rarely fans of QR code menus. Only 31% of consumers felt positively about viewing menus with QR codes at restaurants, according to \u201cDigital Divide: Technology, Customer Service and Innovation in the Restaurant Industry,\u201d a PYMNTS Intelligence and Paytronix collaboration.
\nQR code menus can keep younger customers engaged, but exclusively relying on these codes can alienate older generations, Michele Baker Benesch, president of Menu Men, a company that designs and manufactures both print and digital menus, told PYMNTS in an interview posted in February 2022.
\n\u201cPeople are frustrated, especially people 40 years and older,\u201d Benesch said. \u201cSometimes their phones don\u2019twork. They don\u2019t know how to access the QR code. So before they even get to order a beverage … they\u2019re already upset, and that hampers the entire customer experience.\u201d
\nThe post Restaurants Reintroduce Paper Menus Amid Customer Complaints About QR Codes appeared first on PYMNTS.com.
\n", "content_text": "In recent years, QR code menus gained popularity among restaurants as a way to streamline service and reduce the need for additional staff.\nHowever, consumer complaints have reportedly prompted a shift in the industry. Many diners have expressed frustration with QR code menus, citing issues such as difficulty in navigating the menus, concerns about privacy and a perceived negative impact on the restaurant\u2019s ambiance, The Wall Street Journal reported Friday (May 31).\nAs a result, restaurants are now reverting to paper menus to cater to consumer preferences, according to the report.\nOne of the main complaints from consumers regarding QR code menus is the need to squint or struggle to figure out their order. For some, navigating the menu on their smartphones feels like a cumbersome task, the report said.\nPrivacy concerns also play a role in the backlash against QR code menus, per the report. Additionally, some individuals, particularly older customers, face difficulties using the technology itself. The initial step of taking out their phones and scanning the QR code can be a hurdle.\nThe negative impact of QR codes on check averages and tips for servers has also prompted some restaurants to reconsider their use, the report said. One restaurant group experienced a 10% decrease in check averages when using QR code menus, as diners often failed to scroll through all the offerings.\nIn response to customer complaints, many sit-down eateries are ditching QR codes and reintroducing paper menus, according to the report. Some establishments stopped using QR codes on menus altogether. Others have adopted a hybrid approach, catering to the preferences of different customers by discontinuing QR code offerings at one location while maintaining them at another or by offering both printed menus and QR codes and allowing customers to choose their preferred method of ordering.\nWhile the overall sentiment is shifting away from QR code menus, there are still niche uses where they prove beneficial, the report said. For instance, QR codes can provide additional information to interested customers.\nPYMNTS Intelligence has found that consumers are rarely fans of QR code menus. Only 31% of consumers felt positively about viewing menus with QR codes at restaurants, according to \u201cDigital Divide: Technology, Customer Service and Innovation in the Restaurant Industry,\u201d a PYMNTS Intelligence and Paytronix collaboration.\nQR code menus can keep younger customers engaged, but exclusively relying on these codes can alienate older generations, Michele Baker Benesch, president of Menu Men, a company that designs and manufactures both print and digital menus, told PYMNTS in an interview posted in February 2022.\n\u201cPeople are frustrated, especially people 40 years and older,\u201d Benesch said. \u201cSometimes their phones don\u2019twork. They don\u2019t know how to access the QR code. So before they even get to order a beverage … they\u2019re already upset, and that hampers the entire customer experience.\u201d\nThe post Restaurants Reintroduce Paper Menus Amid Customer Complaints About QR Codes appeared first on PYMNTS.com.", "date_published": "2024-05-31T11:04:17-04:00", "date_modified": "2024-05-31T11:04:17-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/05/restaurants-paper-menus.png", "tags": [ "menus", "News", "PYMNTS News", "QR codes", "restaurant menus", "ResTech", "Restaurants", "Technology", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=1946350", "url": "https://www.pymnts.com/restaurant-technology/2024/ncr-voyix-and-sunday-team-for-pay-at-table-solution/", "title": "NCR Voyix and sunday Team for Pay-at-Table Solution", "content_html": "Digital commerce solutions company\u00a0NCR Voyix\u00a0has debuted a pay-at-table solution in collaboration with\u00a0sunday.
\nAloha Pay-At-Table lets diners scan a tabletop QR code, see their bill, split costs and leave a time while paying in under 10 seconds, according to a Monday (May 20) press release. This means guests spend less time waiting for a check, and increases efficiencies for staff and restaurant owners, per the release.
\n\u201cIn an industry known for its razor-thin margins, our Aloha Pay-At-Table by NCR Voyix technology enables restaurants to operate more efficiently,\u201d\u00a0Benny Tadele, executive vice president and president of restaurants at NCR Voyix, said in the release.
\n\u201cBy serving guests faster, encouraging higher spending and turning tables swiftly, it\u2019s a game-changer for business-minded operators.\u201d
\nThe company says this also lets servers enjoy 10% higher tips thanks to automatic, precalculated tip suggestions, while doing away with back-and-forth trips by the server for payments, thus saving an average of 15 minutes per table.
\nIn addition, the tool prompts diners to review the restaurant\u2019s food, service, ambiance and value on Google after they pay.
\nThe debut follows last week\u2019s rollout of NCR Voyix\u2019s Aloha Kiosk, launched in partnership with restaurant-focused software provider\u00a0GRUBBRR. As PYMNTS reported, this offering is designed to help eateries deal with challenges such as increased\u00a0wages and food costs.
\nAnd restaurants can use the assistance, as PYMNTS wrote recently.
\n\u201cEven as Main Street businesses outperform the\u00a0rest of the economy, there\u2019s a whole different set of rules for restaurants,\u201d that report said. \u201cFor example, PYMNTS Intelligence found that over the last 12 months, Main Street businesses have operated with the lowest risk of closing since early 2020.\u201d
\nA separate report by Fiserv explored the matter in greater detail, showing that small business sales for April rose 5.6% year over year and 2.2% month over month. But restaurants were an exception, with the Fiserv report finding that small businesses that typically attract discretionary spending,\u00a0such as restaurants, did not do as well in April as in recent months.
\n\u201cThe sector saw sales growth slow as consumer demand for lower-priced food options increased,\u201d PYMNTS wrote.
\nMeanwhile, research by PYMNTS Intelligence shows that\u00a0consumers have doubts\u00a0about self-service restaurant technologies, with 34% saying they feel positive about viewing menus via a QR code, and 31% wanting to order from self-service kiosks.
\n\u201cWhile some restaurant technologies, such as QR code menus, may rub most consumers the wrong way, it seems that diners are\u00a0open to self-service\u00a0when it allows them to have more fun,\u201d PYMNTS wrote earlier this year.
\nThat report used the example of Kura Sushi, a conveyor-belt-style sushi chain that launched in Japan and before opening several dozen locations in the U.S.
\nThe post NCR Voyix and sunday Team for Pay-at-Table Solution appeared first on PYMNTS.com.
\n", "content_text": "Digital commerce solutions company\u00a0NCR Voyix\u00a0has debuted a pay-at-table solution in collaboration with\u00a0sunday.\nAloha Pay-At-Table lets diners scan a tabletop QR code, see their bill, split costs and leave a time while paying in under 10 seconds, according to a Monday (May 20) press release. This means guests spend less time waiting for a check, and increases efficiencies for staff and restaurant owners, per the release.\n\u201cIn an industry known for its razor-thin margins, our Aloha Pay-At-Table by NCR Voyix technology enables restaurants to operate more efficiently,\u201d\u00a0Benny Tadele, executive vice president and president of restaurants at NCR Voyix, said in the release.\n\u201cBy serving guests faster, encouraging higher spending and turning tables swiftly, it\u2019s a game-changer for business-minded operators.\u201d\nThe company says this also lets servers enjoy 10% higher tips thanks to automatic, precalculated tip suggestions, while doing away with back-and-forth trips by the server for payments, thus saving an average of 15 minutes per table.\nIn addition, the tool prompts diners to review the restaurant\u2019s food, service, ambiance and value on Google after they pay.\nThe debut follows last week\u2019s rollout of NCR Voyix\u2019s Aloha Kiosk, launched in partnership with restaurant-focused software provider\u00a0GRUBBRR. As PYMNTS reported, this offering is designed to help eateries deal with challenges such as increased\u00a0wages and food costs.\nAnd restaurants can use the assistance, as PYMNTS wrote recently.\n\u201cEven as Main Street businesses outperform the\u00a0rest of the economy, there\u2019s a whole different set of rules for restaurants,\u201d that report said. \u201cFor example, PYMNTS Intelligence found that over the last 12 months, Main Street businesses have operated with the lowest risk of closing since early 2020.\u201d\nA separate report by Fiserv explored the matter in greater detail, showing that small business sales for April rose 5.6% year over year and 2.2% month over month. But restaurants were an exception, with the Fiserv report finding that small businesses that typically attract discretionary spending,\u00a0such as restaurants, did not do as well in April as in recent months.\n\u201cThe sector saw sales growth slow as consumer demand for lower-priced food options increased,\u201d PYMNTS wrote.\nMeanwhile, research by PYMNTS Intelligence shows that\u00a0consumers have doubts\u00a0about self-service restaurant technologies, with 34% saying they feel positive about viewing menus via a QR code, and 31% wanting to order from self-service kiosks.\n\u201cWhile some restaurant technologies, such as QR code menus, may rub most consumers the wrong way, it seems that diners are\u00a0open to self-service\u00a0when it allows them to have more fun,\u201d PYMNTS wrote earlier this year.\nThat report used the example of Kura Sushi, a conveyor-belt-style sushi chain that launched in Japan and before opening several dozen locations in the U.S.\nThe post NCR Voyix and sunday Team for Pay-at-Table Solution appeared first on PYMNTS.com.", "date_published": "2024-05-20T14:57:07-04:00", "date_modified": "2024-05-20T22:07:10-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/05/NCR-Voyix-pay-table.png", "tags": [ "Aloha Pay-At-Table", "Digital Payments", "digital transformation", "NCR Voyix", "News", "PYMNTS News", "QR codes", "ResTech", "Restaurants", "self-service", "Sunday", "Technology", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=1944907", "url": "https://www.pymnts.com/restaurant-technology/2024/ncr-voyix-and-grubbrr-debut-restaurant-kiosk/", "title": "NCR Voyix and GRUBBRR Debut Restaurant Kiosk", "content_html": "Digital commerce firm\u00a0NCR Voyix\u00a0has launched a partnership with restaurant-focused software provider\u00a0GRUBBRR.
\nThe collaboration,\u00a0announced\u00a0Thursday (May 16), has resulted in the Aloha Kiosk, designed to help restaurants cope with challenges such as increased wages and food costs.
\n\u201cDigital technologies like the interactive Aloha Kiosk by NCR Voyix provide a better experience for the customer and less stress on the staff,\u201d said\u00a0Benny Tadele, executive vice president and president of NCR Voyix, Restaurants. \u201cThe Aloha Kiosk is integrated with the NCR Voyix Commerce Platform, enabling a seamless flow of data and the ability to unlock unique omnichannel ordering experiences for our customers.\u201d
\nAs the company notes in a news release, the rising popularity of self-service kiosks come at the same time that the Labor Department is predicting an average of 2.6 million job openings over the next eight years. At the same time, fast food\u00a0eateries in California\u00a0are dealing with a higher minimum wage law, with other states weighing similar legislation.
\n\u201cWith\u00a0escalating costs, a shrinking labor force and the desire to provide multiple options for guest ordering and engagement, solutions like the Aloha Kiosk by NCR Voyix make perfect sense for the restaurant industry as they increase efficiencies and empower brands to do more with less,\u201d said Tadele.
\nAnd restaurants can use the assistance, as PYMNTS pointed out earlier this week.
\n\u201cEven as Main Street businesses outperform the rest of the economy, there\u2019s a whole different set of rules for restaurants,\u201d that report said. \u201cFor example, PYMNTS Intelligence found that over the last 12 months, Main Street businesses have operated with the\u00a0lowest risk of closing\u00a0since early 2020.\u201d
\nA report by\u00a0Fiserv\u00a0goes into greater detail, showing that small business sales for April increased 5.6% year over year and 2.2% month over month.\u00a0Restaurants were an exception, with the Fiserv report showing that small businesses that attract discretionary spending, restaurants among them, did not do as well in April as in recent months.
\n\u201cThe sector saw sales growth slow as consumer demand for lower-priced food options increased,\u201d PYMNTS wrote.
\n\u201cRestaurant spending shrank 3.1% compared to March and was off 0.2% from April 2023. The reduction in restaurant foot traffic was much less significant, indicating that consumers are still visiting restaurants but ordering less expensive items or choosing lower-cost establishments.\u201d
\nThe post NCR Voyix and GRUBBRR Debut Restaurant Kiosk appeared first on PYMNTS.com.
\n", "content_text": "Digital commerce firm\u00a0NCR Voyix\u00a0has launched a partnership with restaurant-focused software provider\u00a0GRUBBRR.\nThe collaboration,\u00a0announced\u00a0Thursday (May 16), has resulted in the Aloha Kiosk, designed to help restaurants cope with challenges such as increased wages and food costs.\n\u201cDigital technologies like the interactive Aloha Kiosk by NCR Voyix provide a better experience for the customer and less stress on the staff,\u201d said\u00a0Benny Tadele, executive vice president and president of NCR Voyix, Restaurants. \u201cThe Aloha Kiosk is integrated with the NCR Voyix Commerce Platform, enabling a seamless flow of data and the ability to unlock unique omnichannel ordering experiences for our customers.\u201d\nAs the company notes in a news release, the rising popularity of self-service kiosks come at the same time that the Labor Department is predicting an average of 2.6 million job openings over the next eight years. At the same time, fast food\u00a0eateries in California\u00a0are dealing with a higher minimum wage law, with other states weighing similar legislation.\n\u201cWith\u00a0escalating costs, a shrinking labor force and the desire to provide multiple options for guest ordering and engagement, solutions like the Aloha Kiosk by NCR Voyix make perfect sense for the restaurant industry as they increase efficiencies and empower brands to do more with less,\u201d said Tadele.\nAnd restaurants can use the assistance, as PYMNTS pointed out earlier this week.\n\u201cEven as Main Street businesses outperform the rest of the economy, there\u2019s a whole different set of rules for restaurants,\u201d that report said. \u201cFor example, PYMNTS Intelligence found that over the last 12 months, Main Street businesses have operated with the\u00a0lowest risk of closing\u00a0since early 2020.\u201d\nA report by\u00a0Fiserv\u00a0goes into greater detail, showing that small business sales for April increased 5.6% year over year and 2.2% month over month.\u00a0Restaurants were an exception, with the Fiserv report showing that small businesses that attract discretionary spending, restaurants among them, did not do as well in April as in recent months.\n\u201cThe sector saw sales growth slow as consumer demand for lower-priced food options increased,\u201d PYMNTS wrote.\n\u201cRestaurant spending shrank 3.1% compared to March and was off 0.2% from April 2023. The reduction in restaurant foot traffic was much less significant, indicating that consumers are still visiting restaurants but ordering less expensive items or choosing lower-cost establishments.\u201d\nThe post NCR Voyix and GRUBBRR Debut Restaurant Kiosk appeared first on PYMNTS.com.", "date_published": "2024-05-16T13:14:15-04:00", "date_modified": "2024-05-16T13:14:15-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/05/NCR-Voyix-restaurant-kiosk.png", "tags": [ "GRUBBRR", "NCR Voyix", "News", "restaurant kiosks", "Restaurants", "ResTech", "Self-service Kiosks", "What's Hot", "ResTech" ] }, { "id": "https://www.pymnts.com/?p=1943529", "url": "https://www.pymnts.com/restaurant-technology/2024/square-restaurant-worker-pay-jumps-66percent-in-7-years/", "title": "Square: Restaurant Worker Pay Jumps 66% in 7 Years", "content_html": "Labor costs continue to weigh on restaurants, according to a new report by\u00a0Square.
\nThe point-of-sale payments company\u2019s Quarterly Restaurant Report, released Tuesday (May 14) notes that average hourly earnings for restaurant workers have\u00a0risen by 66%\u00a0since 2017 compared to 40% for retail workers.
\nHowever, these costs aren\u2019t across the board in the food-service sector, the report adds. Payroll has risen at bars and full-service eateries since 2019, while cafes and quick-service restaurants (QSRs) have seen their payroll costs decline.
\n\u201cBars and full-service restaurants rely more on higher-skilled employees who perform hard-to-automate tasks, which increases payroll costs,\u201d\u00a0Ming-Tai Huh, Square\u2019s head of restaurants, said in a news release.
\n\u201cIt\u2019s the exact opposite situation for QSRs and cafes. These sellers can more easily use technology to automate and streamline operations, helping lower operating costs for front and back of house.\u201d
\nSome of that technology comes from Square itself, with the company last week debuting the Square Kiosk, designed to help operators\u00a0reduce wait times\u00a0and boost staffing in other parts of their restaurants while still taking orders.
\nAnd restaurants can use some help, as they’re proving to be an outlier at a time when most\u00a0small businesses\u00a0are outperforming the larger economy.
\nLabor costs at restaurants have been rising, and sales are slowing, according to a recent\u00a0report\u00a0by\u00a0Fiserv, which counts the\u00a0Clover\u00a0restaurant point-of-sale, data and financing suite among its brands. As noted here earlier this week, that report showed restaurant spending shrinking 3.1% last month compared to March and was off 0.2% from April 2023.
\n\u201cThe reduction in restaurant foot traffic was much less significant, indicating that consumers are still visiting restaurants but\u00a0ordering less expensive items\u00a0or choosing lower-cost establishments,\u201d PYMNTS wrote.
\nThat report also included an interview with\u00a0Mark Hennin, head of Clover Growth at Fiserv, who said that pressures are especially acute for restaurants these days. These eateries are dealing with slim margins with most operators only earning about a nickel to 10 cents on every dollar\u2019s worth of food and drink they sell.
\n\u201cAccording to Hennin, those margins \u2014 and indeed, the survival rates of the restaurants themselves \u2014 can get a boost if technology is deployed in the service of reducing food waste and improving the efficiency of the order-to-table-to-payment flow itself,\u201d PYMNTS wrote.
\nThe post Square: Restaurant Worker Pay Jumps 66% in 7 Years appeared first on PYMNTS.com.
\n", "content_text": "Labor costs continue to weigh on restaurants, according to a new report by\u00a0Square.\nThe point-of-sale payments company\u2019s Quarterly Restaurant Report, released Tuesday (May 14) notes that average hourly earnings for restaurant workers have\u00a0risen by 66%\u00a0since 2017 compared to 40% for retail workers.\nHowever, these costs aren\u2019t across the board in the food-service sector, the report adds. Payroll has risen at bars and full-service eateries since 2019, while cafes and quick-service restaurants (QSRs) have seen their payroll costs decline.\n\u201cBars and full-service restaurants rely more on higher-skilled employees who perform hard-to-automate tasks, which increases payroll costs,\u201d\u00a0Ming-Tai Huh, Square\u2019s head of restaurants, said in a news release.\n\u201cIt\u2019s the exact opposite situation for QSRs and cafes. These sellers can more easily use technology to automate and streamline operations, helping lower operating costs for front and back of house.\u201d\nSome of that technology comes from Square itself, with the company last week debuting the Square Kiosk, designed to help operators\u00a0reduce wait times\u00a0and boost staffing in other parts of their restaurants while still taking orders.\nAnd restaurants can use some help, as they’re proving to be an outlier at a time when most\u00a0small businesses\u00a0are outperforming the larger economy.\nLabor costs at restaurants have been rising, and sales are slowing, according to a recent\u00a0report\u00a0by\u00a0Fiserv, which counts the\u00a0Clover\u00a0restaurant point-of-sale, data and financing suite among its brands. As noted here earlier this week, that report showed restaurant spending shrinking 3.1% last month compared to March and was off 0.2% from April 2023.\n\u201cThe reduction in restaurant foot traffic was much less significant, indicating that consumers are still visiting restaurants but\u00a0ordering less expensive items\u00a0or choosing lower-cost establishments,\u201d PYMNTS wrote.\nThat report also included an interview with\u00a0Mark Hennin, head of Clover Growth at Fiserv, who said that pressures are especially acute for restaurants these days. These eateries are dealing with slim margins with most operators only earning about a nickel to 10 cents on every dollar\u2019s worth of food and drink they sell.\n\u201cAccording to Hennin, those margins \u2014 and indeed, the survival rates of the restaurants themselves \u2014 can get a boost if technology is deployed in the service of reducing food waste and improving the efficiency of the order-to-table-to-payment flow itself,\u201d PYMNTS wrote.\nThe post Square: Restaurant Worker Pay Jumps 66% in 7 Years appeared first on PYMNTS.com.", "date_published": "2024-05-14T11:41:52-04:00", "date_modified": "2024-05-14T11:41:52-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2022/09/Square-restaurant.jpg", "tags": [ "Clover", "Fiserv", "labor", "News", "payroll", "PYMNTS News", "QSRs", "quick service restaurants", "ResTech", "Restaurants", "Square", "Square Quarterly Restaurant Report", "wages", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=1943523", "url": "https://www.pymnts.com/restaurant-technology/2024/square-adds-5-new-integrated-solutions-for-restaurants/", "title": "Square Adds 5 New Integrated Solutions for Restaurants", "content_html": "Square has formed several new integrations and partnerships with organizations serving food and beverage (F&B) companies.
\nThe provider of commerce solutions also said that 45% of F&B sellers adopt a third-party solution within their first year of using Square, according to a Tuesday (May 14) press release.
\n\u201cRestaurants today rely on a variety of tools and services to drive operational efficiency, manage labor costsand find new avenues for growth in an increasingly competitive and challenging landscape,\u201d Ming-Tai Huh, head of food and beverage at Square, said in the release.
\nTo help these businesses find and use integrated solutions, Square launched its App Marketplace a decade ago, according to the release.
\nSome of the latest partner integrations now available to F&B businesses are SevenRooms, which allows restaurants to see reservations and customer insights on their point of sale (POS) system; Restaurant365, which helps restaurants manage their accounting, workforce and store operations; 7shifts, which gives operators access to restaurant performance data in real time; Popmenu, which helps restaurants grow their digital presence; and Olo, which lets operators view orders from all their digital channels in one place.
\nSquare has also formed industry partnerships with food service distributor Performance Foodservice and three restaurant associations \u2014 the Illinois Restaurant Association, the California Restaurant Association and the New York State Restaurant Association \u2014 to better serve F&B businesses with its solutions.
\nIn addition, Square has rolled out a new machine learning (ML)-powered recommendation engine for partner integrations. This tool provides personalized, timely recommendations to sellers.
\n\u201cThe value of ensuring food and beverage businesses can seamlessly build the technology stacks that best fit their operations is evident in the engagement and growth we\u2019re seeing, and Square is committed to providing sellers with best-in-class integrations that help them more easily navigate the complexities of running and growing their business,\u201d Huh said in the release.
\nPYMNTS Intelligence has found that technology is now a critical part of the restaurant experience, helping these businesses streamline business operations and meet consumers\u2019 growing appetite for seamless experiences.
\nRestaurants are increasing their digital engagement capabilities, and consumers are eagerly embracing this, according to \u201cInflation Puts Technology on the Menu for Restaurants,\u201d a PYMNTS Intelligence and American Express collaboration.
\nThe post Square Adds 5 New Integrated Solutions for Restaurants appeared first on PYMNTS.com.
\n", "content_text": "Square has formed several new integrations and partnerships with organizations serving food and beverage (F&B) companies.\nThe provider of commerce solutions also said that 45% of F&B sellers adopt a third-party solution within their first year of using Square, according to a Tuesday (May 14) press release.\n\u201cRestaurants today rely on a variety of tools and services to drive operational efficiency, manage labor costsand find new avenues for growth in an increasingly competitive and challenging landscape,\u201d Ming-Tai Huh, head of food and beverage at Square, said in the release.\nTo help these businesses find and use integrated solutions, Square launched its App Marketplace a decade ago, according to the release.\nSome of the latest partner integrations now available to F&B businesses are SevenRooms, which allows restaurants to see reservations and customer insights on their point of sale (POS) system; Restaurant365, which helps restaurants manage their accounting, workforce and store operations; 7shifts, which gives operators access to restaurant performance data in real time; Popmenu, which helps restaurants grow their digital presence; and Olo, which lets operators view orders from all their digital channels in one place.\nSquare has also formed industry partnerships with food service distributor Performance Foodservice and three restaurant associations \u2014 the Illinois Restaurant Association, the California Restaurant Association and the New York State Restaurant Association \u2014 to better serve F&B businesses with its solutions.\nIn addition, Square has rolled out a new machine learning (ML)-powered recommendation engine for partner integrations. This tool provides personalized, timely recommendations to sellers.\n\u201cThe value of ensuring food and beverage businesses can seamlessly build the technology stacks that best fit their operations is evident in the engagement and growth we\u2019re seeing, and Square is committed to providing sellers with best-in-class integrations that help them more easily navigate the complexities of running and growing their business,\u201d Huh said in the release.\nPYMNTS Intelligence has found that technology is now a critical part of the restaurant experience, helping these businesses streamline business operations and meet consumers\u2019 growing appetite for seamless experiences.\nRestaurants are increasing their digital engagement capabilities, and consumers are eagerly embracing this, according to \u201cInflation Puts Technology on the Menu for Restaurants,\u201d a PYMNTS Intelligence and American Express collaboration.\nThe post Square Adds 5 New Integrated Solutions for Restaurants appeared first on PYMNTS.com.", "date_published": "2024-05-14T11:25:01-04:00", "date_modified": "2024-05-14T11:25:01-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2023/10/Square.jpg", "tags": [ "F&B", "food and beverage", "News", "partnerships", "PYMNTS News", "ResTech", "Restaurants", "Square", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=1942158", "url": "https://www.pymnts.com/restaurant-technology/2024/new-technology-puts-financial-improvements-menu-restaurants/", "title": "New Technology Puts Financial Improvements on the Menu for Restaurants", "content_html": "Even as Main Street businesses outperform the rest of the economy, there\u2019s a whole different set of rules for restaurants.
\nFor example, PYMNTS Intelligence found that over the last 12 months,\u00a0Main Street businesses\u00a0have operated with the\u00a0lowest risk\u00a0of closing since early 2020. A report from\u00a0Fiserv\u00a0went into more detail. The\u00a0Fiserv Small Business Index\u00a0showed that small business sales for April grew 5.6% year over year and 2.2% month over month.
\nBut restaurants were an exception. The Fiserv report found that small businesses that capture discretionary spending, including restaurants, did not perform as well in April as in recent months. The sector saw sales growth slow as consumer demand for lower-priced food options increased. Restaurant spending shrank 3.1% compared to March and was off 0.2% from April 2023. The reduction in restaurant foot traffic was much less significant, indicating that consumers are still visiting restaurants but ordering less expensive items or choosing lower-cost establishments.
\nThe situation is top of mind at Fiserv, which counts the\u00a0Clover\u00a0restaurant point-of-sale, data and financing suite of products among its brands.\u00a0Mark Hennin, head of Clover Growth at Fiserv, told PYMNTS\u00a0in an interview\u00a0that pressures are especially acute for restaurants\u00a0these days.\u00a0The margins are slim, and most operators only earn about a nickel to 10 cents on every dollar\u2019s worth of food and drink they sell.
\nAccording to Hennin, those margins \u2014 and indeed, the survival rates of the restaurants themselves \u2014 can get a boost if technology\u00a0is deployed\u00a0in the service of reducing food waste and improving\u00a0the efficiency of the order-to-table-to-payment flow\u00a0itself.
\nThere\u2019s a significant pain point tied to getting orders wrong in the first place, Hennin said.\u00a0The \u201cold days\u201d of taking orders manually at the table and giving them to the back-of-the-house kitchen workers are fraught with opportunities for missed communications and mistakes. Get the order wrong\u00a0and\u00a0it\u2019s time for a do-over, which increases the customer\u2019s wait time (and frustration), holds up the table turnover and has the staff preoccupied with redressing mistakes instead of moving swiftly through other diners\u2019 meals.
\nDigital channels can help reduce those inefficiencies, bringing the online experience into the in-store eatery itself, Hennin said.
\nThe conversation came\u00a0in the wake of\u00a0Fiserv\u2019s debut last month of\u00a0Clover Kiosk\u00a0and its enhanced 24-inch Clover Kitchen Display System.
\nIn terms of functionality, the two offerings, which\u00a0can be integrated, allow kiosk users to browse menus, customize items, order and pay without having to wait in line. The Kitchen Display System sends\u00a0both\u00a0online and in-house orders to one\u00a0screen,\u00a0and\u00a0connects\u00a0with Clover POS, Clover Online Ordering, BentoBox and other online aggregators, for what the company said is streamlined communication between the front and back operations within the restaurant.
\n\u201cRestaurants are looking for these all-in-one holistic solutions,\u201d said Hennin, tied as they are to other Fiserv operating systems and software designed to bring restaurants fully into the modern age.
\n\u201cOn average,\u00a0what we see is\u00a0that a customer, through a self-service device, will spend between 10% to 30% more because of cross-sell and up-sell opportunities,\u201d Hennin said. \u201cPlus, think about the staff.\u00a0It frees them up to provide more personalization to customers, and they can attend to all the transactions\u00a0at a much faster rate.\u00a0So, it really helps the restaurant really grow profitability and revenue.\u201d
\nThe demand for self-service kiosks has been\u00a0strong\u00a0in the wake of\u00a0the pandemic, about four times the rate Fiserv\u00a0originally\u00a0expected.\u00a0There\u2019s comfort in seeing a digital display of the order once it has\u00a0been selected, even customized, before the food is actually\u00a0in the process of being\u00a0prepared.
\n\u201cNot only is the customer experience improved, there\u2019s increased revenues, too,\u201d especially for high-traffic restaurants, Hennin said. The kiosk also enables cross-selling opportunities \u2014 where a coffee shop might conceivably offer a Danish with the morning joe or entice consumers to consider joining a rewards program or use the points already on hand.
\n\u201cThese are one-to-one marketing offers,\u201d Hennin said.
\nLoyalty programs, as offered by Fiserv, can be used to bring customers into the store, where they redeem the offer on a kiosk, the order\u00a0is filled\u00a0through the kiosk, and the payment is made with a Clover gift card or by tapping a phone on a Clover system at the table.
\nThe data that flows across the Fiserv systems also can be used to power restaurant results even by helping the company provide capital to the restaurants themselves, as Hennin noted that \u201cwe have a lot of data that the banks don\u2019t \u2014 just based on the cash flow of those merchants. So,\u00a0we\u2019re able to\u00a0provide cash advances to merchants that may not be as well-served by their banks.\u201d
\nAs Hennin told PYMNTS,\u00a0with emphasis on\u00a0the two new products aimed at serving the self-service opportunity: \u201cIt\u2019s all about efficiency, the customer experience and reducing costs.\u201d
\nThe post New Technology Puts Financial Improvements on the Menu for Restaurants appeared first on PYMNTS.com.
\n", "content_text": "Even as Main Street businesses outperform the rest of the economy, there\u2019s a whole different set of rules for restaurants.\nFor example, PYMNTS Intelligence found that over the last 12 months,\u00a0Main Street businesses\u00a0have operated with the\u00a0lowest risk\u00a0of closing since early 2020. A report from\u00a0Fiserv\u00a0went into more detail. The\u00a0Fiserv Small Business Index\u00a0showed that small business sales for April grew 5.6% year over year and 2.2% month over month.\nBut restaurants were an exception. The Fiserv report found that small businesses that capture discretionary spending, including restaurants, did not perform as well in April as in recent months. The sector saw sales growth slow as consumer demand for lower-priced food options increased. Restaurant spending shrank 3.1% compared to March and was off 0.2% from April 2023. The reduction in restaurant foot traffic was much less significant, indicating that consumers are still visiting restaurants but ordering less expensive items or choosing lower-cost establishments.\nThe situation is top of mind at Fiserv, which counts the\u00a0Clover\u00a0restaurant point-of-sale, data and financing suite of products among its brands.\u00a0Mark Hennin, head of Clover Growth at Fiserv, told PYMNTS\u00a0in an interview\u00a0that pressures are especially acute for restaurants\u00a0these days.\u00a0The margins are slim, and most operators only earn about a nickel to 10 cents on every dollar\u2019s worth of food and drink they sell.\nAccording to Hennin, those margins \u2014 and indeed, the survival rates of the restaurants themselves \u2014 can get a boost if technology\u00a0is deployed\u00a0in the service of reducing food waste and improving\u00a0the efficiency of the order-to-table-to-payment flow\u00a0itself.\nThere\u2019s a significant pain point tied to getting orders wrong in the first place, Hennin said.\u00a0The \u201cold days\u201d of taking orders manually at the table and giving them to the back-of-the-house kitchen workers are fraught with opportunities for missed communications and mistakes. Get the order wrong\u00a0and\u00a0it\u2019s time for a do-over, which increases the customer\u2019s wait time (and frustration), holds up the table turnover and has the staff preoccupied with redressing mistakes instead of moving swiftly through other diners\u2019 meals.\nDigital channels can help reduce those inefficiencies, bringing the online experience into the in-store eatery itself, Hennin said.\nAddressing Pain Points\nThe conversation came\u00a0in the wake of\u00a0Fiserv\u2019s debut last month of\u00a0Clover Kiosk\u00a0and its enhanced 24-inch Clover Kitchen Display System.\nIn terms of functionality, the two offerings, which\u00a0can be integrated, allow kiosk users to browse menus, customize items, order and pay without having to wait in line. The Kitchen Display System sends\u00a0both\u00a0online and in-house orders to one\u00a0screen,\u00a0and\u00a0connects\u00a0with Clover POS, Clover Online Ordering, BentoBox and other online aggregators, for what the company said is streamlined communication between the front and back operations within the restaurant.\n\u201cRestaurants are looking for these all-in-one holistic solutions,\u201d said Hennin, tied as they are to other Fiserv operating systems and software designed to bring restaurants fully into the modern age.\n\u201cOn average,\u00a0what we see is\u00a0that a customer, through a self-service device, will spend between 10% to 30% more because of cross-sell and up-sell opportunities,\u201d Hennin said. \u201cPlus, think about the staff.\u00a0It frees them up to provide more personalization to customers, and they can attend to all the transactions\u00a0at a much faster rate.\u00a0So, it really helps the restaurant really grow profitability and revenue.\u201d\nThe demand for self-service kiosks has been\u00a0strong\u00a0in the wake of\u00a0the pandemic, about four times the rate Fiserv\u00a0originally\u00a0expected.\u00a0There\u2019s comfort in seeing a digital display of the order once it has\u00a0been selected, even customized, before the food is actually\u00a0in the process of being\u00a0prepared.\n\u201cNot only is the customer experience improved, there\u2019s increased revenues, too,\u201d especially for high-traffic restaurants, Hennin said. The kiosk also enables cross-selling opportunities \u2014 where a coffee shop might conceivably offer a Danish with the morning joe or entice consumers to consider joining a rewards program or use the points already on hand.\n\u201cThese are one-to-one marketing offers,\u201d Hennin said.\nLoyalty programs, as offered by Fiserv, can be used to bring customers into the store, where they redeem the offer on a kiosk, the order\u00a0is filled\u00a0through the kiosk, and the payment is made with a Clover gift card or by tapping a phone on a Clover system at the table.\nThe data that flows across the Fiserv systems also can be used to power restaurant results even by helping the company provide capital to the restaurants themselves, as Hennin noted that \u201cwe have a lot of data that the banks don\u2019t \u2014 just based on the cash flow of those merchants. So,\u00a0we\u2019re able to\u00a0provide cash advances to merchants that may not be as well-served by their banks.\u201d\nAs Hennin told PYMNTS,\u00a0with emphasis on\u00a0the two new products aimed at serving the self-service opportunity: \u201cIt\u2019s all about efficiency, the customer experience and reducing costs.\u201d\nThe post New Technology Puts Financial Improvements on the Menu for Restaurants appeared first on PYMNTS.com.", "date_published": "2024-05-13T04:02:59-04:00", "date_modified": "2024-05-12T22:34:09-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/05/restaurants-technology-self-service-kiosk.jpeg", "tags": [ "Clover", "Featured News", "Fiserv", "food and beverage", "loyalty rewards", "Mark Hennin", "News", "PYMNTS News", "pymnts tv", "QSRs", "Restaurants", "SMBs", "Technology", "video", "ResTech" ] } ] }