Having convenience when it's time to pay is essential to providing a good experience for your restaurant's customers.
That's why it's essential to offer several payment methods (credit and debit cards, Pix, digital wallets) and use a fast system to carry out the transactions.
One of the best solutions for this is TEF (Electronic Funds Transfer). With it, you can receive payments securely and efficiently, control sales, and optimize your business's financial management.
In this article, understand what TEF is, learn how it works, and see how to implement it. Follow along!
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What is TEF?
TEF (Electronic Funds Transfer) is a payment system for credit, debit, and voucher cards. It works through a card machine (called a Pin Pad) integrated into the restaurant's POS system, similar to POS machines.
Although both have many similarities, TEF differs from POS mainly because it lets you work with several acquirers and card brands at the same time. This way, the establishment can choose the most advantageous fees for each type of transaction and save money.
Learn more: TEF and POS: learn the differences and how to choose
Besides being multi-acquirer, TEF also automates the reconciliation of amounts, making sales and payment control more reliable and secure. Understand better how it works below!
How does TEF work?
TEF card machines are connected to the computer and integrated into your restaurant's POS system. It works as follows:
- Integration with the POS: When a sale is registered, the POS system automatically communicates the transaction amount to the TEF. So there's no need to type this amount into the card machine, preventing errors and fraud.
- Transaction authorization: The TEF communicates with the card operator's network to authorize the transaction. This can be done via a telephone connection (Dial-up TEF), a dedicated internet connection (Dedicated TEF), or through the IP network (TEF IP).
- Confirmation and printing: After authorization, the confirmation is sent back to the POS, which prints the transaction receipt. The restaurant's management system is automatically updated with the sale details.
- Reconciliation: The transaction data is recorded in the system, making financial reconciliation and sales control easier.
Since everything is automated, the TEF system is recommended for establishments that make many sales, with a high cash flow — as is often the case with restaurants, bars, and nightclubs.
Besides that, there are many other advantages to using TEF in these establishments, as we'll see next. Keep following along!
Leia também: How to choose the best card machine
What are the advantages of using TEF in a restaurant?
Using a restaurant system with TEF has many advantages. Beyond efficiency, it also provides more security and control and makes it possible to reduce operating costs. Learn more about these advantages below.
More efficiency
TEF automates the payment process, making service much faster.
This contributes to customer satisfaction, since they don't have to wait or face lines.
In addition, this speed also has an impact on table turnover, making it possible to serve more customers and increase the day's revenue.
Integration with the POS also automates sales recording, making financial management more efficient by streamlining different processes, from cash register closeout to receivables control.
Greater security
The TEF system is also advantageous because it helps prevent errors and fraud, providing more security and reliability in transactions.
With automation, manual errors are practically eliminated, ensuring accuracy in the records. Moreover, direct communication with the card operators reduces the risk of fraud.
If something is wrong, the system identifies it and issues an alert right away. This avoids problems in the cash register closeout and the work of checking discrepancies, for example.
Sales control
With TEF, transactions are recorded automatically, making financial reconciliation and sales control easier. In other words: management knows exactly what was sold, which payment method was used, which fee was applied, and when they'll be paid.
With more transparency and reliability, financial management becomes more effective in every way, since the manager has more predictability and can make better-informed decisions to optimize the business's results.
Cost reduction
Since TEF is multi-acquirer, you don't need to invest in different card machines to get the best card fees. By centralizing everything, you can reduce operating costs and simplify management.
Another advantage is related to fees. With TEF, you can configure the best fee option for each payment method.
At the moment of the transaction, the system itself automatically selects the fee you configured. That way, you'll always be working with the most advantageous fee and, consequently, reducing your restaurant's costs.
Optimize your restaurant's management with EPOC
Implementing TEF in restaurants is a strategic decision that can bring countless benefits: operational efficiency, security and financial control, and a better customer experience.
When investing in this technology, it's important to have a reliable restaurant system that can operate with stability and security. EPOC is the ideal platform for that, since it offers POS, ERP, Payments solutions and much more!
To find out how we can help your restaurant, fale com nossos consultores and tell us what your current challenges are.
