Festival season is well and truly upon us, and the hungry and hedonistic are descending in their droves on various parks, farms and castles across the country in search of the good times. As such, this is an incredibly prosperous time for mobile food businesses, with the average attendee spending around £80 on food at the previous Glastonbury alone. And times are changing in terms of how this money is handed over, too, with more and more operators going cashless, contactless and taking card payments to ease the burden on wait times and labour. This has many benefits for the consumer; an easier way to track their spending, less need to carry out cash, and most importantly, much less time spend in queues. It also has benefits for the provider. With that in mind, here are 5 IDEAL tips for managing mobile food truck payments.
CASH OR CREDIT?
Where once Paypal ruled the roost in all matters cashless, now there are several cost effective alternatives on the market. The finest for the festival and food truck market all have one thing in common; contactless card readers that are efficient enough to process payments through smartphones and tablets. When there’s a strong likelihood of heavy queues, those using the swiftest system will come out on top.
KNOW YOUR OPTIONS
Square, at the beginning of the year 2019, made PayPal’s position in the UK a little less assured. PayPal’s reputation for delays in their final transactions and significant fees deducted from both the seller and receiver’s side, cost the company customers, many of whom moved to Square (chip and contactless) owing to their relatively low 1.75% transaction fees. Unlike PayPal, Square and others detailed below have no monthly charges and offer freedom of unlimited transactions.
Another payments application that has gained faithful customers in the UK is SumUp. The simple card reader machine comes with a mobile app and charges a low amount of only £19, i.e. exclusive of VAT. The chip and contactless transaction cost is comparatively low at only 1.69% when viewed against rivals like Square and iZettle, who still are attached to 1.75 %. In case the card is not present, or payments are processed through a SumUp portable reader, authentication is done through a virtual terminal. Perhaps the most significant advantage of Sumup is that it comes with easy installation. Mobile food for thought, indeed.
CUSTOMER SERVICE
The features of all three widely adopted credit card machines in the UK are relatively similar, with only one or two differences in their operating systems and add ons. One critical service divergence is the availability and effort of their customer service departments. In this case, SumUp stays ahead of the game, as they offer free customer service six days a week, from Monday to Saturday. iZettle perhaps go a step further, with help available everyday, including Sundays. You do, however, need to be signed up to their Go Plus scheme, at an extra cost.
A RETURN ON INVESTMENT?
The necessity for mobile payments in the food truck industry is justified, as they have the capability to drive up transactions and eventually revenue. The opportunity provided by mobile payments to users opens up several other possibilities, too, in granting the ability to analyse and record customer behaviour and spending patterns. This analysis further helps business focus their marketing strategies. A correctly identified target audience approached with the most precise marketing tools will also open doors to new revenue possibilities. Registering with online food platforms will advance your chances of getting better catering orders, repeat business, and increased customer base. And that’s what this is all about, right?
ADDED EXTRAS
It’s also a good idea to check out the additional features provided by different companies in case they are particularly pertinent for your business. The list is extensive, but they include split bills, gift cards and extra/optional employee permissions. It should be noted that nearly all added extras come at a cost; nothing is free in this world, free all. Probably the most important additional item is the integrated e-commerce platform provided by iZettle and Square. Ultimately, it’s up to you to decide if these features are worth the extra outlay.