Retail card payments queries

[MisterMusty]

I'm planning a startup cafe/restaurant and wanted to ask 2 questions about card payments that hopefully should be straightforward for those with experience:

1) if I want to use mobile (wifi) merchant handsets to accept card payments how do I ensure those payments go through my EPOS accounting system in the same way a cash payment would? Or do retail outlets simply store up the handset receipts over the course of a day then cross reference them back against the unpaid covers on their system at the end of the day?

2) when predicting the merchant account charges I'll incur for debit & credit card transactions I'd like to know what percentage of the time people paying in a cafe/restaurant are likely to use cash, debit card and credit cards? At the moment I've assumed each will be used equally (ie 33%, 33%, 33%) but that could be miles out for all I know. If anyone can give me a steer based on actual restaurant experience that'll be more reliable than my finger in the air!

Thanks for any help folks!

 

[shadesofblue]

I'm planning a startup cafe/restaurant and wanted to ask 2 questions about card payments that hopefully should be straightforward for those with experience:

1) if I want to use mobile (wifi) merchant handsets to accept card payments how do I ensure those payments go through my EPOS accounting system in the same way a cash payment would? Or do retail outlets simply store up the handset receipts over the course of a day then cross reference them back against the unpaid covers on their system at the end of the day?

2) when predicting the merchant account charges I'll incur for debit & credit card transactions I'd like to know what percentage of the time people paying in a cafe/restaurant are likely to use cash, debit card and credit cards? At the moment I've assumed each will be used equally (ie 33%, 33%, 33%) but that could be miles out for all I know. If anyone can give me a steer based on actual restaurant experience that'll be more reliable than my finger in the air!

Thanks for any help folks!

I can't answer the first one but when I worked in the industry the breakdown of credit to debit cards for restaurants/cafe was in the region of 10/90%

In terms of a cash/card split this will depend on how your customer base and the length of time you've had a card machine in place. With you're average restauarant in London you'd look at a 60/40 split in favour of cards.

If however it's a greasy spoon cafe the cash levels are going to be higher. This will decrease in time once your repeat customers are aware you accept cards.

You should be aiming for around 1.5% on cards and 22p on debits if you're new to cards. I'd advise against getting tied into a long contract as you'll be in a position to renegotiate these quicker when you have a trading history behind you.

Try streamline and tell them cardsave, paymentsense or Retail Merchant Services have offered you the above rates and ask them to match it on a 12 month contract.

 

[MisterMusty]

Brilliant. Thanks very much for that 'shadesofblue'

 

[Kooky1976]

My sandwich bar started using PDQ 3 months ago and I'd say for every £100 cash we take we're taking about £10 on the PDQ. But it's gradually getting better, and a lot of our customers are kids.

 

[bovine]

Every till system from the most basic £50 till to a full on system costing thousands will have the option to receive money as cash and other payment types (usally cheque and cards). Your end of day reports will list how you received the payments. Dont be tempted to breakdown debit and credit cards on the till, the pdq wll do that for you.