PayPal Here mobile payments for restaurants is the second mobile payment system we’re reviewing.
Previously we looked at Square mobile payments for restaurants.
Once again, we’ll look at the specific ways PayPal Here can benefit restaurants.
PayPal Here, like Square, is both a card reader and a complete payment software for your restaurant. If you’re in need of an easy way to take credit card payments at your restaurant then PayPal Here could be the answer.
The service is a natural fit for PayPal. For years now PayPal has been the leader in online payment transactions. The company is used by many businesses around the world including large companies like Walmart, Ebay, Overstock and more. PayPal is not the sole payment method for these companies, but there are so many people that trust PayPal these companies had no choice, but to partner with the payment company.
And that’s really the biggest benefit of partnering with PayPal. The company has millions of users that trust PayPal. Even if there are occasional slipups with user information, the company has simply been the best at growing its list of trusted users. These users know that if they can make a transaction with their PayPal account they will only have to share their important personal information a single time.
For example, a customer might be new to Overstock and they might not want to provide a credit card number to the company. Instead that customer can just pay with their PayPal account.
Here is a quick list of benefits:
One thing that sets PayPal Here apart from other card readers is its ability to accept checks (US only). There are customers out there that want to pay with checks and there is no reason you shouldn’t be able to take them. With PayPal Here, you can process those checks faster and keep money flowing through your restaurant. We all know that cash flow is vital to the ongoing success of any business including the restaurant business.
Your restaurant can setup a PayPal account giving you access to payments and funds within minutes. While other card reader programs require a waiting period the money you accept with PayPal Here is there fast allowing you access to funds whenever you need it.
The price of using PayPal Here is 2.7% per transaction. This is the same model PayPal uses for their other payment processing. It’s something many companies use and it seems to be worth the cost, which is actually just slightly below Square.
The process with PayPal here begins in the app store either on your iPhone, iPad or Android device (Does Your Restaurant Cater to iPhone Users?). Search for the PayPal Here app. Once installed there will directions guiding your through the process of getting a free card reader. You’ll also be able to start using PayPal for your business accounting. Now, PayPal does not have its own accounting software that allows for things like budgeting and other necessary business functions, but you do have the basic racking of cash flow available and PayPal also has a partner program allowing users to use third party accounting solutions.
From the time you first fill out the application for the card reader you should expect to wait about 5-7 days to receive the reader. Once you have it you’ll be all set and ready to go with taking payments for your restaurant.
A big item with PayPal Here (and other card reader payment systems) is that your customers do not need a PayPal account to pay you. They simply need their credit card. You just swipe, have them sign and in minutes you’ll have the money available in your business PayPal account. You can also type in the card number, which has a higher fee. If you’re taking cash payments there is also a way to calculate change although most mobile devices already have a calculator.
PayPal Here allows you to take payment with credit card, check, cash or PayPal. Tweet This
Mobile payments are an appealing way to take payment. Both PayPal Here and Square have videos of food truck businesses taking payments so the fit is perfect for restaurants. When people are on the go they always have their phone, ID and a credit card, but fewer are carrying around cash. If someone stops in to have something to eat at your restaurant or if you’re on the go for catering it’s easy to take payment.
In the article about Square we shared three marketing ideas:
These are three others.
This is something all PayPal partners do. If you’re going through the checkout process on most major online retailers you’ll notice that they put the PayPal button or “Pay With PayPal” notice on the product and service pages.
People trust PayPal and it makes people comfortable knowing that a business uses PayPal. Your customers can use their PayPal account, but they can also use a credit card.
If your restaurant has a heavy lunch crowd or even dinner crowd it can be really beneficial for people to know that they can pay quick. People are in a hurry. They might need to get back to the office or they might need to catch a movie. If you advertise that you can take payments quickly people are more apt to visit your restaurant. As soon as people have their food you can have them pay. There is no more waiting for the check. Obviously you can work out the logistics to best suit your business, but fast payments is a definite benefit for customers.
You might not have a full blown food truck, but maybe you’re looking to take your restaurant to a new city or a different part of your current city. You could rent a space for the day, provide food, advertise for people to come and easily take payments with your card reader. It’s a great way to test a new market and potentially expand your business.
PayPal Here Mobile payments for restaurants has a lot to offer. You can easily take payments from your customers that prefer to use their credit cards. They can even use their PayPal accounts to pay and that’s really the biggest benefit of PayPal Here. You’re working with a brand people recognize and trust all over the world. When people see PayPal they know they can trust you with their payment information.
The world we live in is going mobile. Make it easier on yourself and your customers by using mobile devices to make your restaurant more appealing.
PayPal Here would be a great way to start.
If you have questions about how mobile can benefit your website please leave a comment below or tweet to us.