FreedomPay and Toast Survey Reveals Top Priorities for Enterprise Hospitality Leaders: Data Security, Integration, and Growth Enablement
June 25 2024 - 6:00AM
A recent survey conducted by FreedomPay, a global leader in Next
Level Commerce™ solutions, in collaboration with Toast, a leading
cloud-based restaurant management software company, has unveiled
crucial insights into the top priorities for enterprise hospitality
leaders. The findings emphasize the importance of data security,
system integration, and growth enablement in shaping merchant
preferences and trust in payment solutions and point-of-sale (POS)
providers.
Key Insights from the Survey:
- 53% of merchants face challenges in deciding where to allocate
their technology budgets, highlighting the demand for integrated
solutions that offer comprehensive value and support informed
decision-making.
- The biggest factors that contribute to trust in a payment
solution/point of sale (POS) provider are the quality of customer
support (49%), user-friendliness (46%), reliability (44%), and
integration capabilities (44%).
- Almost all merchants believe data security (100%) and data
privacy (98%) are highly important when selecting a payment
solution, while most believe growth enablement (82%) and speed
(81%) are highly important.
- Organizations are already implementing a high level of
integration between their payment/POS systems and other software
systems. Most merchants say they have either fully integrated (15%)
or have a very high level (70%) of integration between these
systems. Almost all merchants (98%) place strong value on an
integrated payment solution
“The survey with Toast highlights that integration,
understanding customer behavior, and ensuring security are
paramount for merchants,” said Nate Ware, SVP Sales & Digital
Development at FreedomPay. “This also shows that most merchants are
striving for a fully integrated ecosystem to drive growth and
enhance operational efficiency. At FreedomPay, we are committed to
providing the integration and security that merchants need to
thrive and succeed.”
Understanding customer behavior, including shopping and
purchasing patterns, is key to enhancing the customer experience
and driving sales. Additionally, merchants are prioritizing
security and minimal system downtime to safeguard operations and
ensure business continuity. The availability of responsive and
reliable customer support significantly contributes to fostering a
sense of security and trust among merchants.
“The survey really underscores merchants’ need for seamless
integration and a thorough understanding of customer behavior to
fully enhance operational efficiency,” remarked Kelly Esten, GM of
Enterprise at Toast. “For merchants, prioritizing robust data
security and reliable customer support is crucial for fostering
trust with customers.”
These insights highlight that seamless integration, robust data
security, and reliable customer support are essential for merchants
aiming to enhance operational efficiency, foster trust with
customers, and drive sustained business growth in today's
competitive landscape. These factors form the cornerstone of
strategic decision-making for enterprise hospitality leaders as
they align their technology investments with long-term success and
customer satisfaction.
To learn more, download the full report: The Security Tightrope:
Balancing Innovation and Risk Management for Enterprise Brands
About FreedomPay:
FreedomPay’s Next Level Commerce™ platform transforms existing
payment systems and processes from legacy to leading edge and
enables merchants to unleash the power of pay. As the premier
choice for many of the largest companies across the globe in
retail, hospitality, lodging, gaming, sports and entertainment,
foodservice, education, healthcare and financial services,
FreedomPay’s technology has been purposely built to deliver rock
solid performance in the highly complex environment of global
commerce.
The company maintains a world-class security environment and was
one of the first payment solution providers in North America to be
validated by the PCI Security Standards Council. FreedomPay’s
robust solutions across payments, security, identity, and data
analytics are available in-store, online and on-mobile and are
supported by rapid API adoption. The award winning FreedomPay
Commerce Platform operates on a single, unified technology stack
across multiple continents allowing enterprises to deliver an
innovative Next Level experience on a global scale.
www.freedompay.com
About Toast:
Toast [NYSE: TOST] is a cloud-based, all-in-one digital
technology platform purpose-built for the entire restaurant
community. Toast provides a comprehensive platform of software as a
service (SaaS) products and financial technology solutions that
give restaurants everything they need to run their business across
point of sale, payments, operations, digital ordering and delivery,
marketing and loyalty, and team management. We serve as the
restaurant operating system, connecting front of house and back of
house operations across service models including dine-in, takeout,
delivery, catering, and retail. Toast helps restaurants streamline
operations, increase revenue, and deliver amazing guest
experiences. For more information, visit www.toasttab.com.
Jennifer Tayebi
Hill & Knowlton for FreedomPay
+1 734 395 0780
jennifer.tayebi@hillandknowlton.com