Pye kiosks capitalize on payment diversity

In payment circles, cash has always been king. These days, the number of consumers carrying cash – at least enough to pay for an order at a restaurant – is increasingly becoming scarce in favor of electronic payment methods.

Credit and debit cards remain the dominant payment methods in the United States. Digital wallets such as Venmo, Cash App, and PayPal trail but are growing rapidly in popularity.

Cash is a costly means of payment, given security issues, risks and handling costs.

The value of cash, however, can’t be understated. People ages 55 and older are the largest group still using cash regularly, making 23% of their payments in cash, compared to only 12% among those aged 23 to 34.

Those numbers have helped led some cities, such as Washington, D.C., to ban cashless business. Additionally, many people don’t have a bank debit or credit card, so they must use cash to make payments. In the United States, approximately 7% of the population are unbanked, according to Global Finance. While 7% seems small, it represents around 23 million people who rely on cash or other non-bank forms of payments.

Leading technology firm Pye recognized the cash gap long ago and configures its kiosks to accept multiple forms of payment, including cash.

One of the biggest advantages of digital payments is how quick they are, especially for major purchases. Counting out cash can take more time for both businesses and consumers.

Still, technology developers that don’t facilitate cash payments are overlooking a key segment that can drive revenue and profitability.

“Technology that doesn’t consider cash as a form of payment only hurts the businesses that may deploy those kiosks and shuts out many consumers who prefer cash payments or who use cash as their only form of payment,” said Jegil Dugger, Pye CEO and founder. “As we design solutions that make operations more effective and efficient for the restaurant industry, it’s critical to incorporate ways to serve those who still use what many consider an alternative payment method.”

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Pye, the leading self-ordering kiosk provider, announces new integration with Shift4 Skytab Marketplace

Pye, a leading self-ordering technology firm, has integrated with SkyTab, the leading restaurant point-of-sale (POS) solution from Shift4. The partnership allows tens of thousands of restaurants using SkyTab to connect with Pye to seamlessly enhance their self-service capabilities.

Through SkyTab, businesses can deploy one of the industry’s leading technology systems that has helped merchants nationwide enhance the customer experience by reducing lines and speeding order fulfillment. At the same time, they can make their operations more efficient, reduce labor costs and increase revenue and profitability

SkyTab POS is a best-in-class restaurant technology solution designed to streamline operations, simplify business management and improve the guest experience. It includes integrated online ordering and reservations, contactless/QR code ordering and payment, built-in marketing tools and loyalty program, mobile devices for tableside ordering and payment and comprehensive reporting.

The company’s inclusion happens as self-service technology becomes commonplace worldwide. In fact, a new report from the Journal of the Academy of Marketing Science, shows that digital ordering methods lead consumers to higher overall spending. This effect attenuates for consumers with a high degree of technology acceptance and suggests that restaurant managers desiring more indulgent purchases would benefit from having digital ordering modes available.

“We’re always expanding the SkyTab ecosystem to include offerings that meet the needs of all types of restaurants,” said Jay Shavitz, SVP of SkyTab Product. “This integration with Pye delivers a powerful self-service solution to help our customers reduce costs and operate more efficiently.”

“This is a huge opportunity for any financial technology firm,” said Jegil Dugger, CEO and founder of Alabama-based Pye. “We’re confident in the ability of our kiosks but, more importantly, in our ability to help our company and all of our partners thrive.”

About Pye

Pye designs and engineers an array of self-service solutions – both the hardware and the software to run them. Its technology includes a mix of products, from free-standing and tabletop models to mobile applications. Pye’s units are deployed in a host of restaurants, retail and hotels nationwide.

About Shift4
Shift4 (NYSE: FOUR) is boldly redefining commerce by simplifying complex payments ecosystems across the world. As the leader in commerce-enabling technology, Shift4 powers billions of transactions annually for hundreds of thousands of businesses in virtually every industry. For more information, visit shift4.com.

Pye kiosks capitalize on payment diversity