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“We’re Card Only”: Why Going Cashless Works
In today’s fast-moving hospitality environment, speed, simplicity, and customer satisfaction are everything. With more of the population paying by card or contactless than ever before, it’s no surprise that many in the retail, food service and commercial sectors are choosing to go completely cashless. By 2030, cashless transactions will be 80% of all payments.
At Moneos, we work closely with restaurants and takeaways to help make this transition simple, providing advanced and reliable payment solutions. We understand the unique challenges of this fast-paced industry, and how adopting a card-only approach can streamline daily operations.
So, is a cashless model right for your business? Here’s a closer look at the key advantages, and how to overcome the common concerns.
Why you should consider going cashless
Faster Transactions, More Orders
For a business where you're always on the go every second counts, and especially when you're taking payments, that time adds up. With card payments, there’s no need to count change, open tills, or manually record sales, meaning you and your team can sell even faster than ever before.
Improved security
Cash on-site can be a large security risk for your staff, your premises, and your peace of mind. One major advantage of going cashless is that there’s no physical money to lose, miscount, or steal. Even better, with Moneos managing your businesses finances, every transaction is tracked in real-time and backed by secure, encrypted payment processing.
Better for Delivery and Remote Orders
Now there are even better solutions than using a card machine. By using Moneos SMS Pay, you can send a secure payment link directly to a customer’s phone. It’s as simple as sending a text, and your customer is taken straight to a secure mobile payment gateway. There’s no extra hardware or manual processing required, just quick, convenient payments from anywhere.
Streamlined Staff Spending
Going cashless doesn’t just apply to the consumer. Need to send someone out to pick up emergency supplies or fuel a delivery vehicle? With the Moneos One Card, you can issue multiple cards to staff members, each with spending limits and real-time tracking for peace of mind.
Why not to go cashless... yet
Excluding customers
While card payments dominate, some consumers, especially older demographics, still prefer to use cash. While most customers now expect to pay by card or phone, pushing the aged masses of the UK out of your clientele list could be a costly mistake, as they are 38% of adult consumers.
Dependence on technology
No cash means full reliance on payment technology. If your card terminal goes down or there’s a network issue, it can temporarily halt your ability to accept payments. Moneos provides high-speed, dependable terminals, with mobile and Wi-Fi connectivity to keep you running smoothly, even during network interruptions. However, technology will never be 100% as trusty as cash-in-hand.
Tipping from customers
In some sectors, particularly bar, cafe, and restaurant staff, may only receive tips in cash. If this is a key part of your business model, removing this can cause discontent and also a negative effect on your customers. Digital tipping solutions are a fantastic and easy way to implement, ensuring staff still receive their well-earned tips, but 25% of customers in the UK still prefer giving cash tips to ensure the staff get their tips directly.
Finding the right balance with Moneos
At Moneos, we believe the future of business payments is flexible, secure, and tailored to our clients’ needs. Whether you’re going fully cashless or looking to offer a hybrid approach, our payment solutions are designed to help you operate in a better way. We don’t just provide payment hardware; we deliver direct solutions to help you operate more efficiently so your business can grow.
Final Thoughts
In balance, going cashless offers more than just convenience, it unlocks greater control, faster service, and a better experience for both your team and your customers. Whether it is right for your business depends entirely on your business and what drives its success. At Moneos, we can help you take that next best step into the new cashless world.