Chexplit- Mobile Conveniece for Restaurant Patrons
Credit Fraud is an issue that has become much more prevalent within the restaurant industry. According to recent statistics, since 2005 almost 50% of all fraud occurs in restaurants and 70% of incidents are perpetrated by an employee. The CheXplit system gives the patron (instead of the employee) more control over the payment process thus providing for a more secure and efficient experience.
In an attempt to make traditional credit payments more secure, the new Payment Card Industry (PCI) standards can also have a crippling effect on your existing payment solution as well as your bottom-line. The fines and fees associated with an old or insecure payment solution can make or break your budget.
In addition to reducing costs and lowering your risk of fraud, splitting and paying the bill for a group of people can take up to 30 minutes depending on how many people are paying, the clarity of the bill, how many items were ordered, how busy the restaurant is, the sophistication of the existing technology at the restaurant, etc. Even if your existing POS system has the ability to split a check, it can be very difficult for a waitperson to remember what guest is paying for each order, how much they are each paying and what they are paying with (credit, cash, etc).
This time can cause a reduction in the amount of tables that are turned over as well as reduce the amount of time spent on service to other customers - both reflecting negatively on your establishment. While limiting check splitting may be more convenient for the restaurant, it can negatively affect a patron's decision to frequent a restaurant, instead patronizing a restaurant that allows the bill to be split in more convenient ways. The inability to attract large parties can result in a significant revenue loss for your establishment.
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