Running a successful business in the hospitality sector requires an exceptional ability to manage financial transactions efficiently. Moreover, the steady growth of cashless transactions has made it vital for businesses to leverage the best credit card and payment processing tools. In this guide, we explore 10 such tools tailored specifically for local businesses in the hospitality industry.
1. Podium Payments
Let’s kick things off with a standout, Podium Payments. This impressive software not only allows businesses to manage seamless payment transactions but also aids in gathering more reviews, generating high-quality leads, and centralizing customer data to enhance your hospitality experience. It turns your phone into a card reader providing a secure, fast, and easy payment method.
This software is fully equipped with advanced fraud protection and automatic reconciliation, ensuring every transaction is secure and accurate. With its unique ability to accept major payment options, offer financing, and send estimates, it makes a perfect fit for the hospitality industry.
2. Square Inc.
Square Inc. is very popular among local businesses thanks to the diverse range of payment systems it offers. Its user interface is crystal clear, making it very easy to use, while its low processing costs make it an affordable option for businesses of all sizes.
We admire Square for its well-rounded suite of software and hardware solutions perfectly suited for small to mid-sized businesses. Its ability to accept all sorts of payments, including digital wallets and credit cards, makes it a good fit for your hospitality business.
3. Toast POS
Known for its cloud-based software solutions, Toast POS is crafted specifically for the hospitality industry. It offers functionalities like table-side ordering, menu modifications, restaurant management, and payment processing all in one platform.
Toast shines with its comprehensive set of features designed to streamline operations for restaurants. Its in-built payment processing system, Toast Pay, is a perfect harmony of convenience and security, underlining its commitment to enhancing your customers’ experience.
4. Clover Network Inc.
Clover Network Inc. offers a robust software platform combined with several POS systems and a mobile card reader. Its flexible configurations can handle transactions from both physical and digital platforms.
Besides its efficient payment processing abilities, Clover goes the extra mile with its POS system which can manage employee timesheets, customer feedback, and more, making it a versatile addition to any hospitality setup.
5. Stripe
Stripe is a comprehensive payment processing application that enables businesses to send and receive payments online. Stripe’s APIs are flexible and supportive of various types of transactions, including subscriptions and marketplaces.
With Stripe’s global reach, your hospitality business can cater to international clients seamlessly. Plus, its clean, friendly user interface makes it a cinch to navigate, making it a boon for hospitality businesses.
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6. Braintree
Braintree is a full-stack payment platform known for its consistent performance, worldwide accessibility, and ability to accept various types of payment options. It’s seamlessly integrated with PayPal, increasing its operational efficiency.
Braintree’s robust payment APIs and unparalleled support for online and mobile businesses can give your hospitality business a competitive edge when it comes to payment options.
7. Helcim
Helcim distinguishes itself with its clear pricing model and stellar customer service. Small businesses especially love the transparency and consistency Helcim provides.
It’s a reliable choice for any hospitality business seeking a fair, cost-effective payment processing solution with exceptional customer support.
8. Fattmerchant
Fattmerchant is another top-notch processing tool that focuses on fairness and transparency. It offers its customers subscription-based pricing along with high-grade customer support.
Fattmerchant can be an advantageous choice for businesses seeking simplicity and transparency in payment processing solutions, which is a quality significantly valued in the hospitality industry.
9. QuickBooks Online
QuickBooks Online is recognized for its comprehensive accounting solutions. However, it also offers a reliable payment processing tool that can handle different types of payments, including bank transfers and credit card transactions.
Our preference for QuickBooks Online stems from its integration capabilities with its own accounting software. This makes it a well-rounded solution for the financial needs of any hospitality business.
10. PaymentCloud
PaymentCloud is designed to cater to high-risk businesses, making it a unique entry on this list. It provides a variety of services focused on enhancing the payment experience for both businesses and their customers.
PaymentCloud’s robust risk mitigation strategies coupled with its streamlined payment processing make it an ideal choice if your hospitality business faces challenges related to risk management in transactions.
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The relevance and efficiency of a payment processing system are instrumental in shaping a rewarding experience for your patrons in the hospitality industry. These tools can help you accept and process payments quickly, easily, and securely. By choosing a tool like Podium, which goes beyond just serving as a payment facilitator and elevates the entire customer journey, you can further boost the potential success of your business.
