The bar and nightclub industry is a fast-paced operation built on supply and demand. On a good night, your bar is packed with patrons ready to unwind and ordering another round. Your nightly revenue generation relies on your bartender’s ability to cash people out quickly and easily.
This is where having optimized payment solutions that fit your needs is so important. There are many things to consider when choosing a physical credit card processor for your bar. This blog will look closely at the various options credit card terminals offer for your bar or nightclub venue.
Here’s what you should keep in mind while searching for the right credit card machines for bars.
Why is it Necessary to Have Credit Card Terminals for Bars?
Much like any modern business, bars need an alternative payment option beyond simple cash transactions. It helps bar owners increase their revenue as well as accommodate customers without cash.
These patrons can include:
- People who don’t have cash in their hands before visiting the bar.
- People who don’t want to visit the ATM in the middle of their visit.
- People who are short on cash but still want to enjoy the facility.
Benefits of Having Credit Card Terminals in Bars
Installing an in-person credit card terminal allows you the bar owner to cater to a broader customer demographic. The option of being able to pay without cash encourages more customers to visit your bar. As a result, you can grow your business consistently with new and old customers alike.
4 Features Bars Need in a Credit Card Processor
A typical bar can expect to handle more than a few customers on an average day. This traffic can increase over the weekends, during the holidays, and on special occasions. Keeping this in mind, having a reliable provider who has a selection of credit card machines for bars can help you keep up with a large number of transactions you process in a single day.
We suggest choosing a payment processor that provides the following features in your credit card machine to help run your bar optimally.
Integrated Payment Processing
Conventional credit card machines require you to first process a transaction for a customer and then manually reconcile the printed invoice with your accounting system. This adds another layer to payment processing and makes it more time-consuming with redundant data-entry tasks.
That’s where integrated payment solutions come in. An integrated payment system helps you process your payment through one touchpoint. Instead of having to reconcile your invoices at the end of every day, you can claim transactions right when you process a customer’s payment card for them.
Even when you run a bar with a particular theme or ambiance, it’s a given that it will cater to a host of different customers. Some will prefer paying by credit card, while others will be partial to cash. With the growing use of contactless payments, some might even want to tap their phone against your credit card processor instead of using a physical card.
That’s why your bar must be equipped with proper in-person terminals to handle all of these different payment methods with ease. Apart from being able to accept multiple payments, proper solutions such as in-person terminals also make accounting tasks easier for you by sorting all your revenue in one place. This goes a long way in managing your operations more efficiently.
Mobile Credit Card Readers
It can become difficult for your bar personnel to quickly handle customers who are waiting to pay on crowded nights. Using mobile credit card readers to accept your customers’ payments on the counter or even at their table ensures that you can clear pending payments rapidly and get more customers seated, resulting in more profit for your bar.
Further, solutions such as these and in-person terminals also allow you to avoid instances where customers leave without paying, simply walk up to patrons who are about to leave and process their payments via your mobile processor. This alone is a crucial feature and a huge benefit of using credit card machines in your bar.
Normally, a few changes are associated with processing credit card payments that go through your credit card processor, including setup, equipment costs, and processing fees for each transaction.
This can become quite costly for a bar, where you’ll need to handle plenty of micro-transactions on a single day.
At Stax, we specialize in providing bar owners with physical, mobile, virtual payment processing terminals, and modern payment solutions that can help them grow their business while also avoiding high charges.
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To understand how our integrated payment solutions can help your bar in scaling its operations, reach out to a Payment Consultant today.