Business owners in the restaurant industry operate in one of the most difficult and demanding business sectors. Managing every aspect of the business from marketing to human resources, the day to day tasks for restaurant owners are nothing short of monumental. Working with a restaurant credit card processing company that understands the business can help streamline payments while lowering the costs for accepting credit cards.
Today, most large businesses and corporations need to accept credit and debit cards or risk the potential of losing customers by not providing the flexibility that most customers have come to expect. Businesses that generally have higher sales amounts usually accept credit cards due to the fact that customers do not always carry large amounts of cash and this can drastically limit the amount a customer will spend during a visit.
How a Credit Card is Processed
The credit card processing network is complicated and sophisticated system that provides nearly instantaneous results. Once a credit card is swiped through a payment terminal, the card account information is relayed through the payment processor to the acquiring bank, the support bank for the payment processor.
Once the card holder information reaches the acquiring bank, it is passed along to the card association and is sent to the card holder's bank for authorization. The card association will determine at what bank the card holder has an account and will forward the merchant request for authorization of the sale amount.
The customer's bank will confirm that the customer has sufficient credit; or for debit, enough funds to complete the transaction. If the customer has enough funds, the bank will authorize the transaction and the response will be sent through the card association and acquiring bank to the merchant, a nearly instantaneous transaction.
Working with Allied Payments
Allied Payments is a full service payment processor that can provide restaurants with complete payment processing solutions; from restaurant credit card processing services to multiple credit card terminals to a complete restaurant point of sale system, Allied Payments can work with restaurants of any size.
A restaurant pos system will allow for restaurants to streamline their order taking process while increasing the business' overall profits and margins. Partnering with Allied Payments allows restaurants of all sizes different point of sale systems options to fit the needs and budgets of every business.
For more information about our restaurant credit card processing services, or to begin accepting credit cards in your restaurant today, contact one of our Allied Payments representatives today for more information.