Restaurants can leverage digital payment companies to boost security and enhance operational efficiency. As the restaurant industry evolves, more tech solutions will emerge than ever before. Such tools will revolve around digital payments and other payment processing methods. After all, you can't do business without them. 

In this blog, we’ll begin by covering some of the most popular digital payment companies. They differ from one another, so it’s important to identify how they can impact your restaurant business. Then, we’ll go over several benefits of partnering with digital payment companies. Let’s just say that they’re much better than traditional payment options. Now, let’s get started!

Popular Digital Payment Companies

When searching for the most popular digital payment companies, you’ll be met with a number of great options. However, we narrowed it down to the best options to save you some time in making a decision. Read on for the list!

BlueCart 

As the top B2B wholesale solution for food distributors, BlueCart is one of the best eCommerce websites on the market. Restaurants no longer have to struggle while keeping up with back of house tasks. Instead, order fulfillment, demand planning, recurring payments, and inventory management can be simpler than ever.  

Just when you thought BlueCart offered the best selection for payment processing needs, its newest platform BlueCart Pay now offers businesses with a whole new set of features. Invoice processing and vendor billing is completely digital, making such processes easier than ever. In fact, BlueCart Pay clients can spend up to 80% less time on invoices!

Download: Vendor Payment - BlueCart Pay eBook

When you use BlueCart for all of your payment processing needs, you'll also reap the benefits of the following features:

• Recurring billing management
• Subscription billing solutions
• Subscription management software
• Real-time invoicing and payment processing
• Invoice template examples 
• Paperless billing processes
• Automated billing system
• User-friendly app for financial management
• eCommerce SEO  storefronts
• Small business invoicing software

Ready to get started with the most inclusive payment processor? Schedule a demo today to speak with a hospitality expert.

Apple Pay 

When people envision Apple, they might not think of digital payment companies. However, the introduction of Apple Pay in 2014 quickly made it one of the best digital payment platforms. After all, the popularity of Apple devices instantly gave it a sense of convenience. Ever since, mobile wallets have become a preferable option by many consumers. 

Apple Pay uses contact-free payment terminals to offer additional perks, such as:

• Contactless payments 
• App integrations on iOS devices
• Compatibility with all Apple products

PayPal

PayPal is a popular go-to option for eCommerce shops. It's one of the digital payment companies that syncs seamlessly with various website builders. Whether you operate a small business or a massive brand, seamless integrations are key. 

Other features of PayPal that clients know and enjoy include:

• Protection against fraud 
• Mobile payment solutions 
• eCommerce customer service channels
• Data security for customers and merchants

Stripe 

Stripe is one of the digital payment companies that make it easy to handle finances. Resources are available to offer businesses assistance. Meanwhile, its automation features streamline standard processes and enhance the business. 

Clients can benefit from other innovative features with Stripe, such as:

• Easy ACH payment processes
• Data security 
• Fraud protection
• Virtual invoice cards

Square 

Square is an affordable payment processor for businesses of all sizes. Whether you need to allow in-store or online payments, Square makes it possible. Plus, it's one of the digital payment companies that offers a suite of other software options. 

In addition to being a payment processor, Square offers these solutions, too:

• Staff management 
• POS hardware options 
• Virtual terminals

5 Benefits of Digital Payment Companies

Restaurant payment solutions are best when they operate digitally. So, let’s learn about the top five reasons why your food service business should use them.

1. Digital Payment Companies Can Integrate With Current Systems

Digital payment processing software can seamlessly integrate with your current systems. That’s one of the best parts about it. Not only will it innovate and streamline restaurant operations, but it’s simple to adopt.

Many restaurant payment technology options work well with apps and POS software. So regardless of which restaurant payment processing platform you want, the onboarding period should be fairly straightforward. After all, that's the whole point of innovation.

2. Digital Payment Companies Help Restaurants Track Data

Most of the restaurant data you’ll want to track stems from sales trends. Luckily, restaurants that accept mobile payments and other digital methods allow for simple customer data collection. As transactions enter the POS system, all payment data will coexist within a centralized dashboard. Then, the restaurant staff will be able to access relevant metrics in real-time.

3. Digital Payment Companies Are More Convenient Than Other Methods

Digital transactions take place in a flash. By scanning a code or tapping a screen, a payment can be successful. While cash and change can easily be stolen or misplaced, everyone can always make payments when the funds are available within a digital device. Even foreign exchange rates can be processed digitally. And for that reason alone, digital payments are more inclusive and universal. 

4. Digital Payment Companies Innovate With the Times 

As hospitality software companies develop new tools, payment processing solutions will be amidst the mix. This means that as software updates become available, your business will be able to evolve with the changes, too. So as the industry goes through a digital transformation, so will your restaurant brand. This is key in staying ahead of the competition.

5. Digital Payment Companies Offer High Security Measures

It is a legal protocol for digital payment companies to follow PCI standards. In doing so, they’re able to offer businesses and consumers a great deal of security. High-level safety stems from data encryption and cybersecurity measures. As you can imagine, traceable and digital transactions are much safer than using physical money.

Frequently Asked Questions About Digital Payment Companies

From eateries with contactless payments to QR payment options, digital payment companies are making waves. Want more insight? We've got you covered! For extra info about popular digital payment companies, read the FAQ section below!

What Are Some Digital Payment Companies?

Some of the most well-known and user-friendly digital payment companies include PayPal, Zelle, Visa, and Venmo. They allow consumers and businesses to process transactions with ease. The best part about being digital is that physical money is not part of the transactions.

What Companies Are Involved In Digital Payments?

The companies that are involved in digital payments the most include:

• BlueCart
• PayPal
• Cash App
• Venmo 
• Zelle
• Stripe 
• Square 

Who Is the Leader In Digital Payments?

The leader in digital payments is India as of 2023. The digital revolution is evolving at a quick pace. Plus, the economy is constantly utilizing more innovations. In turn, they use more digital payment solutions than anywhere else in the world.

What Is the Most Popular Digital Payment System?

The most popular digital payment system is Apple Pay. The statistic is due to the staggering popularity of the iPhone. Plus, it’s a super easy payment method that countless merchants accept.

What Is the Biggest Digital Payment Company?

As of 2023, the biggest digital payment company is Visa Inc. Not only are Visa cards acceptable by almost every merchant, but they exist worldwide. Considering that payments with Visa are the majority of transactions that take place in the world, this statistic should not come as a surprise.

Achieve Success With Digital Payment Companies

It’s safe to say that with the help of digital payment companies, a business can simplify operations. As purchases enter your POS system, both parties can feel secure that the transactions are secure. Plus, the flexibility that coincides with having multiple options will allow the business to maximize their order volume. It’s truly a win-win situation for both sides. So, what are you waiting for? Begin working with one of the best digital payment companies today!