Many new restaurant owners make the mistake of thinking they have to choose a credit card processor they've never heard of to process transactions; the sort of company they imagine established restaurants and other larger business models already use. However, new entrepreneurs can and should turn to a familiar bank when possible as long as it offers the type of merchant services that can handle a restaurant's unique needs. In fact, most established restaurants and larger business models already work with the same banks you are familiar with on a personal and consumer level.
A restaurant merchant account should offer a few simple things to make it easier for you to:
- Get paid
- Get through the business day with fewer headaches
- File taxes, and
- Pay employees
What to Look for in a Restaurant Merchant Account
1. Software with a Simple Learning Curve
Right out of the box, any software that accompanies your merchant account should be easy to use, yet offer you fluid and modern functionality.
2. Software with a Digital Mind for the Restaurant Business
Because you have to spend enough time keeping staff members on their toes and your customers happy, a good merchant processor's software package should easily keep up with the fast pace of your food business without much input from you. The software should also be able to handle new information, menu changes and course of business changes with ease like:
- Daily plate specials
- Expanding menus
- Seasonal items
3. Modern Expectations Met
The merchant processor you choose should also accept every credit card out there. Though this is easier now than ever before, (since most cards have one of a few major logos), it is still important to make sure for yourself that the company you choose accepts everyone.
Customer service is also incredibly important. So many merchant account processors outsource their customer service to other countries and to people who are not qualified to handle your important business concerns in a timely, professional manner. When it comes to your business and livelihood, you should know that you are going to receive excellent customer service every time you contact your service provider via chat, phone, social media or email.