Lorie Worden’s Post

How are restaurant and hospitality businesses evolving in the UK and Ireland? Explore Mastercard's interactive report to understand emerging trends in quick service, casual restaurants, and fine dining.

How are restaurant and hospitality businesses evolving in the UK and Ireland? Explore Mastercard's interactive report to understand emerging trends in quick service, casual restaurants, and fine dining.

How are restaurant and hospitality businesses evolving in the UK and Ireland? Explore Mastercard's interactive report to understand emerging trends in quick service, casual restaurants, and fine dining.

I find it amazing to watch hospitality operators manage the day to day happenings of their business or businesses. Managing labor, food costs, schedules, customers, logistics, waste AND family is a juggling act that, unless you have done it, is very difficult to comprehend. So we go out to relax ourselves on occasion. Visiting our friends at their places or traveling to resorts to get away. And we charge it on our credit cards. Here is something I imagine most of the public does not consider when it comes to one of these balls being juggled by our #hospitality friends. Did you know there are only 2 major credit card 💳 networks that control 80% of all credit card transactions? So what is the big deal? Well every time a customer pays with a card (like every time) the business is charged an average of 3%. It is like having to pay an entirely separate tax. 💰 Meaning, with that much power these 2 companies can basically: 1) ban anyone else from entering the market 🛑 2) simply charge whatever they want. 📈 Like my good friend T.J. Oakley says in this editorial "In an industry that averages 3-5% profit margins, an extra 3% on everything can easily put you out of business." So I stand with T.J. and Scott Harper, MS and everybody else asking our federal leaders to pass the Credit Card Competition Act, a bipartisan piece of legislation in both houses of congress that would require at least 2 competing credit card networks on each transaction, introducing competition and reducing costs by an estimated $15 billion a year. We all deserve some relief from swipe charges. 🥂 https://lnkd.in/enqtqMdR #swipecharges #relief #restaurants #hotels #creditcardcompetitionact

POS Systems Inc , See why accredited investors, family funds, and smart investors are positioned in this type of opportunity https://lnkd.in/eZWWy2PE https://lnkd.in/eVABkPTB Accredited Investors are capitalizing on businesses to merely process  daily transactions. And that’s where the opportunity arises, to instantly increase their bottom line by offering a competitive rate. It’s a win-win relationship for both the investor and the merchant. In addition to monthly fees Restaurant Systems  will happily transact their high cash flows for them. Allowing investors to scale faster and capitalize on this blue ocean opportunity. This is your invitation to be on the ground floor of a very attractive valuation.

Did you know that as many as 23% of merchants in the US are now charging an extra fee to customers who pay using a credit card? Discounts for settling the tab at restaurants, coffee shops, and other retailers with cash are now on the menu as merchants search for ways to manage and reduce rising credit card transaction fees. If you were a consumer, would you rather earn a 4% discount for paying cash or 1-2% in points using a credit card? This trend threatens the use of reward credit cards in the dining sector. We've written a thorough analysis of the pros and cons of this new trend. Enjoy. #customerloyalty #loyaltymarketing #cobrandcards

Amex Gold checklist: Five things to do when you get the card

Here's why you need to copy and paste the below link⬇️ https://lnkd.in/evxuv6RE This is for all my US 🇺🇸 people: The extraordinary BILT credit card - this credit card that will transform the way you think about rewards when you use to pay for 🔴RENT🔴 (in my opinion) Here's why you need to apply for the BILT card right now: ⬇️ Earn 1X POINTS ON RENT PAYMENTS WITHOUT THE TRANSACTION FEE UP TO 100,000 POINTS EACH CALENDAR YEAR ⬇️ 2X POINTS ON TRAVEL ⬇️ 3X POINTS ON DINING ⬇️ 1x points on other purchases ⬇️ Use the card 5 times each statement period to earn points ⬇️ $0 ANNUAL FEE ⬇️ Get double points on the 1st of every month Earn even more on Rent Day with 6X on dining, 4X on travel, and 2X on other purchases (except rent). ⬇️ Bilt Points ranked as the most valuable rewards points (above Amex Membership Rewards and Chase Ultimate Rewards), by Bankrate.com ✅Awesome way to boost your credit score🤯 (in my opinion) Sophie Waller and I, loving this card with these benefits ✌🏾

“The report, which drew on survey data from 614 restaurant SMBs that generate $10 million or less in annual revenues, revealed that 40% of restaurant SMBs said instant payments are their most used payment method.” https://lnkd.in/g-cx3fsY #restuarants #sales #owneroperator #payments #merchantservices #fintech #equipmentleasing

The Dilemma of Restaurant Cancellation Fees 🍽️💸 As restaurants tackle losses from no-shows with cancellation fees, the question of fairness arises. Consider the case of a gentleman cited in a recent New York Times article, who was charged $200 for canceling his reservation due to a sudden family emergency. This situation highlights the potential harshness of such fees for customers facing unforeseen circumstances. Could technologies like InsureTech or customer reputation systems offer a fairer solution? What are your thoughts on creating more balanced policies? 🤔 Explore the issue further: https://lnkd.in/gFaA7ZTb | Non-paywall link: https://archive.is/cWv7c