Oracle to Launch Food and Beverage Payment Cloud Service

Oracle | June 30, 2022

Oracle to news
Oracle, an American multinational computer technology and payment solutions providing company, announced the launch of its new Oracle Food and Beverage Payment Cloud Service to assist restaurants to eliminate hidden fees and offer their customers to use payment options of their choice. With the help of this service, hotels and restaurants across the US can now accept payments through a number of innovative contactless payment solutions such as Google Pay, credit/debit cards, Apple Pay, and Samsung Pay, without any unexpected fees or hidden costs.

Oracle’s Payment Cloud Service provides transparent, defined fee rate pricing without a long-term commitment or a need for minimum monthly payments, in contrast to certain competing products in the market. The service is PCI/DSS compliant and has end-to-end encryption and high-security standards since it is powered by Oracle Cloud Infrastructure (OCI). As a result, restaurants may provide a variety of payment options to their customers while maintaining predictable payment processing expenses that help them maintain a healthy bottom line.

"Hidden fees and long-term contracts have long been an issue with payment processors in the food and beverage industry with many providers capitalizing at the expense of independent operators who often already run on thin margins.He stated, With the Oracle Payment Cloud Service's transparent fixed 'pay-as-you-go' pricing model we have eliminated those concerns and provided restaurants a one-stop-shop for their entire restaurant technology and payment processing needs."

    -Simon de Montfort Walker, senior vice president and general manager, Oracle Food and Beverage

The grace period is rapidly waning for restaurants to become a fully digital enterprise to meet customer expectations and better manage every piece of their operation – from inventory to service fees, said Dorothy Creamer, senior research analyst, Hospitality and Travel Digital Transformation Strategies at IDC. Giving customers choice in payments is important, but it can often come at a heavy price tag for restaurant operators in an already difficult operating environment. Transparency in fee structures and having a single provider for POS and payment processing support can reduce complexity and potentially improve margins.


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Retail Business Ideas You Can Start on a Budget Startup Business IdeasYou can open your own used bookstore, either in a set location or online. Buying used books is a fairly inexpensive prospect as far as inventory is concerned.You can also open a consignment store, which sells second-hand goods as well but offers money back to people who bring in their items.

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