The “new normal” which may now continue for years perhaps, have hit small businesses especially hard, with restaurants bearing a much larger brunt of the new regulations that are in place globally. Social distancing is in place even when businesses reopen, with outdoor dining commonplace in restaurants, and capacity restrictions imposed on both restaurants and other types of businesses such as shops. Some larger chain restaurants have even initiated types of vending delivery, where a customer can call in an order and then use a code to pick it up from a vending machine. Contactless payments and purchase methods are stressed. Many businesses can only operate on one-half capacity.
Most restaurants and small businesses operate on fine margins.
Decreasing capacity by half can lead to a closure very quickly. Even in the best of times, 20% of businesses fail in the first year, 50% by the fifth year, and 70% by the tenth year, according to the Department of Labor Statistics. Length of time in business does not seem to ensure success obviously, and now with the trying times that are faced by businesses it has become even harder to maintain the influx income needed for operation. In order to avoid this, newer and better methods of serving customers quickly and efficiently are in much demand. Businesses also are seeking payment methods which do not cost as much to them in fees. Every penny saved now keeps a business afloat in the new economy. This has led to a transformation in payment methods such as iWallet.com provides.
The new IWallet QR Technology is entirely free for both consumers and merchants.
QR code menu technology simply means Quick Response and is based on an application that sends a radio frequency signal directly from a consumer’s phone or device to the merchant’s point of purchase device. It is really an upscale version of the “tap and pay” chip technology that has been gaining popularity over the past couple of years. It is even more contactless and more mobile, as consumers do not need fumble with cash or credit cards. Since it is installed on a device, consumers simply view the menu, prices, or services, and then send their selection to the merchant of choice. Most purchases via credit or debit require fees. IWallet transactions offer the same type of bank level security as ACH type (Automated Clearing House) transactions. IWallet is simply faster and more convenient, as well as being totally contactless and without fees if using the IWallet app and ACH payments.
All other types of transactions can still be processed by IWallet and purchases require authorization.
The standard credit and debit cards issued by VISA, AMEX, Discover and MasterCard can still be processed through IWallet terminal technology. However, if a credit or debit card is lost, then anyone can use it. IWallet requires authorization so a double layer of protection is added. IWallet is also looking at adding the SNAP/EBT (which are supplemental programs for nutrition and necessities) government issued cards to the list of payment methods accepted. For fast, quick, free, and totally contactless methods of payment for merchants and consumers alike, IWallet is quickly gaining ground in the field of contactless ordering and payments based upon its simplicity and the security. In today’s world IWallet is a great mobile solution for merchants and consumers alike.
About iWallet Inc.
IWallet is a totally contactless method of mobile device ordering and payment that is quickly gaining ground with merchants and consumers alike. Mobile commerce is now the norm and IWallet provides a downloadable app that enhances the contactless approach, as well as quicker ordering and delivery. It is a perfect choice for all types of businesses, but especially restaurants and shops, as menus and goods can be viewed through use of the app. It is available through the App Store, and Google Play, and also on the website itself, https://www.iWallet.com. Both consumers and merchants can sign up on the website also. A list of shops that accept IWallet exists on the site.
Company Name: IWallet, Inc.
Contact Person: Media Relations
Email: Send Email
City: San Francisco
Country: United States