If You Want Increase Spend, You Must Retain Cards - The Solution Is CardsSafe
The hospitality industry in now on track to reverse the damage the pandemic had on the businesses across the UK. Restaurants, cafés, pubs and bars will be recouping the losses as the world gets back to some kind of 'normal'.
So, what can business owners and managers do to maximise profit, increase spending, and reduce losses?
There is one, innovative and cost-effective on-site solution, that can help immediately.
Phil Dixon, of the BII, suggests that "If you want to increase spend, you must retain cards."
A simple solution, and one that could be a quick and easy win, even in light of the pandemic. Paul Eagles of VISA backs by this by stating, "When using cards, people spend at least 35% more."
If cash is out of favour, and with contactless seemingly the safest option, how can retaining payment cards be safe?
Contactless may seem like the ideal solution, but it doesn't suit the dine-in experience. It's great of the fly and handy on the run, but it prevents leisurely enjoyment of the venue for slow, enjoyable hospitality. An experience so sorely missed by customers.
The solution is CardsSafe. A system specifically designed to securely retain customer credit and debit cards while the cardholder runs a tab or trials a product or service. The 'behind the bar' technology contains bank cards that enable customers to run a tab—allowing them to freely spend more, in the knowledge that the venue is treating the system like any other part of the venue by complying with strict guidelines and disinfecting with every use.
Other benefits of CardsSafe include the ability to eliminate 'dine & dash' effectively. In a time of financial downturn, these walkouts could become even more disastrous. If the payment card is requested on taking an order and is safely retained in the CardsSafe units, there is no chance for such an opportunity.
CardsSafe is also remarkably affordable at just under £10 per month rental per unit, meaning that up to 10 cards can be stored at once, and multiple units can be added to suit. It essentially pays for itself, and it could increase a pub or restaurants profits.
Furthermore, the CardsSafe system safeguards customers against credit card fraud and identity theft because no one, bar the staff, can access their cards whilst they are stored in the units.
Major brands trust CardsSafe in the leisure and hospitality industries, including Young's pubs, Hilton Hotels, dozens of golf courses across the UK and art galleries. Protecting their assets as well as their customers, it is an important asset to these industries.
“Average spend is up and chargeback has virtually disappeared after we installed CardsSafe, which really puts our customers’ minds at rest.” Timothy, Bar Manager, Young’s Pubs
Over a period of market research and trial, data has shown that card spend went up 25% on average as customers spent at least 30% more when using the CardsSafe system. The bottom line is when you can welcome customers again, if you want to increase spend and eliminate 'dine & dash', you must retain cards.