NFC Pay: Everything you need to know

Every hospitality venue faces challenges that slow down their processes. Whether it’s a customer who has a thousand demands or a meal that’s been prepared incorrectly, there are many unforeseen events that take up your team’s time. Time is precious, so it’s natural that venue managers are always looking for ways to save time, cut costs and streamline their processes.

Near-field communication pay (NFC pay) is one of the areas that can help businesses owners gain some time back and provide customers with a great payment experience.

Let’s explore what NFC Pay is and how it works.

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What exactly is NFC pay?

Have you ever paid for something by tapping your card or smart device? That quick, easy form of payment is known as NFC pay.

To get more technical, NFC helps devices that are close together exchange their data. So, NFC pay facilitates a payment from a customer’s device directly to a business’s payment terminal or NFC chip, as long as these two devices are near each other.

For these contactless payments to work, NFC devices need to be less than two inches apart, so that they can communicate and exchange data. This reduces the time it takes to process payments for both businesses and customers, as with NFC, payments can be made in seconds.

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Is it safe? 

NFC is a safe and secure payment method. This is because customers need to unlock their e-wallet and select their payment method before exchanging their funds with the NFC reader. With all these steps from the user's end, it’s impossible for a customer to pay by accident, or for the NFC reader to take funds from the customer without their consent.

NFC also limits the theft associated with physical cash, which is safer for both your business and your customers. 

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How is Yoello utilising NFC payments?

Ordering or paying via NFC is a straightforward process and a modern alternative to QR codes. 

With Yoello Pay, customers can pay the bill by simply scanning a QR code or by tapping an NFC plaque on the table with a smart device. This enables the customer to view their bill, tip, split, pay and go… without needing to wait for a server to come to the table. This saves time for both staff and customers, allowing customers to pay at their own convenience.

This time saved also means that businesses can turn over tables up to 40% faster, even with limited staff.

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Benefits of Yoello Pay

Yoello offers a payment system that increases the efficiency of businesses and enhances the experience of customers. Yoello Pay can be set up for fast and secure NFC or QR code payments in any venue.

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Here are some of the benefits of Yoello Pay:

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Yoello Pay saves transaction fees with Open Banking payments

Yoello Pay uses Open Banking, which is more safe and secure than traditional payment methods. Open Banking is easier for your business and your customers, and best of all, it doesn’t require transaction fees.

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Yoello Pay accepts all payment methods

With Yoello pay, customers can use a range of payment methods, including their card, Apple and Google Pay, Pay by Bank, and even crypto (coming soon!). Offering your customers diverse payment methods will encourage them to spend more, because if they have a low balance on one account, they have plenty more payment options to choose from. 

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Customers can pay their bill in seconds

Facilitating faster payments will benefit your business in multiple ways. When customers need to split bills across payment methods, it becomes time consuming for your staff, which takes their attention away from other tasks. However, with Yoello Pay, customers can navigate their payments within seconds on their own devices, freeing up your staff.

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Turns over tables faster

Because your staff have more time on their hands, Yoello Pay can help you turn over tables up to 40% faster, saving an average of 15 minutes per table. This is invaluable for your business, as a faster turnover allows you to serve more tables and make more money. 

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Today, with the aid of technology, businesses are able to run faster and better than ever before. With Yoello Pay, your business can become more competitive and successful.

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If you’re interested in enhancing your business with Yoello Pay, contact us to book a demo.

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