Choosing a merchant service provider that is right for your business depends on outlining your unique restaurant credit card processing needs. Your service provider should offer a scalable system which allows for growth or downsizing. Restaurant tablet POS systems should be technologically advanced but easy for you and your staff to use. Having a system that quickly submits and processes information allows your staff to be efficient, productive, and accurate with meal ticketing and sale finalization.
If your business relies on mobile services, your restaurant merchant account provider must allow your staff to process sales in the field. Mobile credit card processing enables your staff and can boost your sales. When your restaurant is attending a festival or foodie event, you can offer your customers the convenience of paying for your services with their debit or credit card.
PCI compliance regulations outline how restaurant owners can avoid customer information fraud. Customer and company data breach can be a serious hindrance and maintaining PCI compliance will help you avoid unneeded risk.
Restaurant credit card processing & PCI Compliance?
The Payment Card Industry Data Security Standard outlines the requirements for all merchants that store, process, or transmit customer data. By using a POS system that is PCI compliant you are mitigating compromises, preventing storage of sensitive customer data, and supporting the PCI-DSS standard for cardholder safety and security.
If your restaurant tablet POS system is not PCI compliant, you could incur penalties and fines that reach the amount of $50,000 or more. You will also be classified as a Level 1 merchant which faces yearly audits of PCI regulation compliance. These audits can cost between $25,000-$35,000 per year.
In order to ensure your restaurant merchant account provider is PCI compliant, it is important to check the validation list often. Remember PCI compliance regulations can change and adjust each year, be sure to check with your provider annually to ensure your systems remain up to date with compliance regulations.