Franchisees and payments: why standardisation is key | Blog
10 / 01 / 2022
The quick service industry (QSR) is battling the ongoing challenges of the pandemic through digital innovation and adoption. What were technological trends or movements before the pandemic have become a necessity since, as businesses in the franchise world seek to streamline their systems to bolster revenue. Nowadays, in order to keep pace with rivals, franchisors must adopt the latest payments infrastructure. Indeed, payments standardisation is also key, and will be explored in this blog alongside what Worldline’s payment solution offers franchisees.
Standardisation in the franchise sector.
Having a standardised payments solution is important for franchisees to uphold their image in the eyes of the customer, as it enables the latter to enjoy a frictionless, seamless payments experience.
And part and parcel of a standardised payments solution is the implementation of omnichannel payment capabilities. This allows the customer to pick and put down different payments devices which have online capabilities, such as a smartphone, laptop or tablet, at various stages of a food order before collecting it. A customer may start an order on a laptop before leaving for the restaurant and complete it on a smartphone upon arriving at their destination.
It means customer experience is leveraged as a priority for businesses and, during a pandemic in which the public is understandably wary of having contact with another person, decreases the likelihood of virus transmission through the limitation of touchpoints. Franchisees need to adapt to these new customer demands in an ever more health-driven society and continue enabling contactless transactions using payment solutions such as Apple Pay and Google Pay.
Scan & Pay.
Scan & Pay is an alternative payment technology seen throughout the QSR industry and one franchisee should look into as an option to boost revenue. Instead of having to order in person at the till or desk, which sometimes means having to queue, the customer can simply scan a QR code and be presented with a food and drinks menu.
Again, during a pandemic, this minimises touchpoints, but it also frees up staff time for them to focus their attention on other aspects of the workplace, such as making sure the number of napkins and cutlery is plentiful during busy times of the day.
Worldline’s payments solution.
All of the above requires the comprehensive payments solution, as many franchisees look to centralise their product, that Worldline can offer. By centralising a product, Worldline enables the franchisee to have a global view of a transaction to decipher what is working, what is not working etc. for both in-store and online. This provides them with the chance to look more into the analytics side of the business and assess with data how revenue can be increased.
But the payments solution needs to be of the highest quality in order for this to happen and for the franchisee to enjoy a better price per transaction while getting paid faster. In order to facilitate this, we are providing a dedicated team to support franchisees from the very beginning of their payments journey.
From a cross-border perspective, Worldline’s payment solution provides franchisees with an in-house onboarding portal in the local language of the country which the franchise wants to enter. So too, as part of our package, Dynamic Currency Conversion (DCC) allows customers to enter a quick service restaurant abroad and know what price they are paying for a product in their home currency.
Undoubtedly new technology is increasingly being used by businesses to streamline their processes and cut costs, vitally important as restrictions globally discourage people from spending as much as they would normally do on products.
But at Worldline we can offer franchisees the high-quality, comprehensive payment solution they need. Integral to this is the omnichannel characteristic, but most importantly, is that it is a working payment solution that franchisees rely upon to sustain growth. We can go even further now and ensure franchisees can precisely analyse their performance and the habits of their customers to provide the latter with the best experience possible.
About the author
Lee Jones is the Managing Director Northern Europe for Worldline and, alongside his team, has an unparalleled track record of helping organisations deliver a reliable, secure and fuss-free checkout experience.
Having held a variety of leadership roles with market leading technology companies over a 20-year period, Lee is passionate about driving solutions that deliver real value to his customers.
Leading Worldline into new markets, where the introduction of cashless payments is just starting to emerge, while supporting existing customers in their ambition to meet and exceed shopper expectations, is something which highly interests Lee. Lee is proud of the trust customers have placed in Worldline and his team. Being able to help organisations reduce the cost, complexity and burden of PCI while assuring their revenues and enabling them to increase their customer satisfaction scores is at the heart of Worldline’s strategy.