Is Chip and Pin Essential For a Catering Business?

February 13, 2018

When you’re starting up a catering business, you have a huge number of things to consider. It’s easy to get lost in a world of health and safety certifications and hiring staff, forgetting to consider how you’ll accept payments.

Once upon a time, this wasn’t really a problem, you simply set up a till and started taking cash. However, customers’ expectations have long since changed. They’ll expect to be able to pay by card, use contactless facilities and do all of it quickly.

In this article, we’ll take a look at the risks you might be running by not having a catering business chip and pin solution ready to go when you open your doors to customers of the first time.

What are you missing if you don’t accept cash?

According to the UK payments association, debit card transactions overtook their cash equivalent for the very first time in 2017. One in seven people in the UK no longer bother to carry cash with them on a day-to-day basis. If you’re not able to accept card payments in your new catering business, then you’re going to miss out on their custom.

If, like many catering businesses, your customers are relying on you to deliver their food quickly, it’s unlikely that they’ll nip to an ATM to get the cash for you. With margins in the catering business under increasing pressure, you really can’t afford to lose any customers from your business.

Accepting cards is easy

You can set up a chip and PIN system without installing any new phone lines or other infrastructure. The vast majority of card payment terminals are now able to communicate over WiFi. This means that there’s no need for a second phone line or other expensive infrastructure in order to accept cards.

The setup process only takes a few minutes and you’ll then be able to enjoy all the advantages that come from accepting card payments, including increased custom and easier accounting.

You’ll also reduce the risks that come from keeping significant amounts of cash on the premises and having to bank it regularly. With card acceptance becoming so easy and widespread, it’s no wonder that so many catering businesses are now choosing to accept chip and PIN payments. Make sure you don’t miss out.