Building a cohesive payment system for franchisesBy Lee Jones
We have seen a degree of standardisation when it comes to payment processes within quick service restaurants (QSRs) since the pandemic.
Very often these are large franchise brands, now able to mandate things like eWallet acceptance: even prior to the pandemic there was an increase in the use of cashier-less terminals in QSRs. Unfortunately, far more common are franchises with a patchwork of payment systems, usually put in place by the franchisees rather than the brand.
Franchisees are therefore responsible for incorporating and installing solutions, delivering a reliable omnichannel approach, and making sure that all customer journeys mirror their parent brand. All this while adding value-added services to answer consumer needs. Here are some ways to address the issues this can bring:
Merchants pay big per transaction
A common issue with the franchise model is each franchisee processes their transactions as an individual company, cutting into their profits. Instead, brands should consolidate transaction flows to enable a better price per transaction so that all parties can benefit from economies of scale.
Patchwork payments technology
Franchisees often have to source their own point of sale (POS) systems and other vital pieces of technology. As such, they often end up paying full retail price for these items, and there is no quality control. It also means that there is little opportunity for the franchise to offer support with technology; if a system goes down, the franchisee is on their own to sort the problem.
Setting technology at franchise level will enable the franchisee to benefit from economies of scale, and customers can enjoy a better overall experience with the brand.
Different experiences online and offline
No matter how or where they pay, customers should have an experience that it is fast and in fitting with the franchise’s brand. To achieve this, implement a brand-down omnichannel approach so that each time a customer interacts with a brand, no matter the location or medium, they get the same experience.
No standardised training for staff
With franchisees deciding their own training and onboarding processes, this can lead to different levels of expertise across the brand’s team, particularly when it comes to using equipment and payments systems.
Advanced partners such as Worldline can offer an online portal to ensure that franchisees can get the training they need. There are dedicated content, onboarding and reporting tools, and support teams are tasked with making the entire process as smooth as possible.
Levelling up franchises together
The solutions to many of these issues often involve having a brand taking back ownership and control of practices and technologies, whether that’s the hardware in their stores or the cloud-based software backing it up. This could be a costly, difficult process, but the right payments partner can make it far easier.
The Worldline franchise offer that will be rolling out across several European territories in the coming months will be a key way in which franchises deepen the support they give to their franchisees and allow them both to keep on being successful together.
To learn more, visit: https://worldline.com/en/home/solutions/omnichannel-commerce.html