With a fixed fee rate and no long-term contract, new payment
processing service enables restaurants to avoid excessive costs
while giving diners choice in how they pay
AUSTIN,
Texas, June 28, 2022 /PRNewswire/ -- The
accelerated use of digital payments has created more options for
diners, but also complexity and cost for restaurants. Eliminating
this headache, Oracle today announced the Oracle Food and Beverage
Payment Cloud Service. With the service, restaurants in the US
can now accept the latest in contactless payment options, including
debit/credit cards and Apple Pay, Google Pay, and Samsung Pay,
without hidden fees and unpredictable costs. Unlike some other
solutions on the market, Payment Cloud Service offers transparent,
fixed fee rate pricing with no long-term contract or monthly
minimum requirements. And as the service runs on Oracle Cloud
Infrastructure (OCI), it has high security standards,
end-to-end encryption, and is PCI/DSS compliant. This means
restaurants can give their customers choice in how they pay, all
while operating with predictable payment processing costs that
support a healthier bottom line.
The Oracle Food and Beverage Payment Cloud
Service creates more digital payment options for diners.
"The grace period is rapidly waning for restaurants to become a
fully digital enterprise to meet customer expectations and better
manage every piece of their operation – from inventory to service
fees," said Dorothy Creamer, senior
research analyst, Hospitality and Travel Digital Transformation
Strategies at IDC. "Giving customers choice in payments is
important, but it can often come at a heavy price tag for
restaurant operators in an already difficult operating environment.
Transparency in fee structures and having a single provider for
POS and payment processing support can reduce complexity and
potentially improve margins."
Payments without the hidden fees
pain
Restaurant payment processing costs
can vary widely between payment providers and card or payment
types. Compliance, reporting, and service fees can make it
difficult for restaurants to estimate and factor these costs into
their financial planning. Oracle is working with
Adyen, a global financial technology platform and member of
Oracle PartnerNetwork (OPN), to bring
Oracle Payment Cloud Service to market with a fixed rate pricing
model that enables restauranteurs to anticipate
exactly how much they will pay for every transaction – regardless
of payment method used. There are no additional service or
convenience fees, and no commitment to a long-term contract or
monthly minimums. This means businesses only pay for the services
they use as their business grows.
"We're working with Oracle to help them bring payments in-house
and offer their customers a complete solution via our Adyen for
Platforms product," said Roleant Pins, chief commercial officer,
Adyen. "We're excited about the present opportunity and the future
aspiration to expand this offer to their global customer base."
Integrated with Oracle MICROS Simphony restaurant POS system,
Payment Cloud Service gives brands a single source for hardware,
software, account and financial services, and support - covering
their entire range of restaurant needs. This includes help setting
up menus, processing payments, and analyzing margin
performance. All transactional and payment data is directly
imported into a single analytics dashboard so that restaurants can
forecast revenue, profits, and cash flow accurately and in
real-time.
"Hidden fees and long-term contracts have long been an issue
with payment processors in the food and beverage industry with many
providers capitalizing at the expense of independent operators who
often already run on thin margins," said Simon de Montfort Walker, senior vice president
and general manager, Oracle Food and Beverage. "With the Oracle
Payment Cloud Service's transparent fixed 'pay-as-you-go' pricing
model we have eliminated those concerns and provided restaurants a
one-stop-shop for their entire restaurant technology and payment
processing needs."
Oracle Payment Cloud Service is available today in the US. Learn
more at: https://www.oracle.com/industries/food-beverage/
About Oracle Food & Beverage
Oracle Food and
Beverage, formerly MICROS, brings 40 years
of experience in providing software and hardware solutions to
restaurants, bars, pubs, clubs, coffee shops, cafes, stadiums, and
theme parks. Thousands of operators, both large and small, around
the world are using Oracle technology to deliver exceptional guest
experiences, maximize sales, and reduce running
costs.
About Oracle
Oracle offers integrated suites of
applications plus secure, autonomous infrastructure in the Oracle
Cloud. For more information about Oracle (NYSE: ORCL),
please visit us at www.oracle.com.
Trademarks
Oracle, Java, and MySQL are
registered trademarks of Oracle Corporation.
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SOURCE Oracle