Choosing the Best Payment Processor For a Restaurant

3 Min Read By Austin Mac Nab

The most popular way to pay at restaurants is through card transactions, whether it's credit or debit. According to a PYMNTS study, 68 percent of consumers use their credit cards to purchase food at a restaurant, equating to $29.8 billion in sales in February 2022. While credit cards seem easy and simple for consumers, the payment method impacts a restaurant's bottom line more than guests realize. 

The average credit card processing fee ranges from 1.5 and 3.5 percent, which can be a major expense for restaurants. 90 percent of restaurant operators are small businesses, competing for every dollar they earn. These small businesses must be aware of the options they have when it comes to choosing a payment processor to handle these interchange fees and make sure they do not rack up and instead help a restaurant owner keep their doors open. Credit card processing fees are one of the major expenses for restaurants, next to food and labor. To ensure a restaurant is minimizing…