Franchise Payments Network: One-stop-shop for all Electronic Payment Needs in the Franchise Industry
FPN works with over 190 franchise systems, both nationwide and internationally, and provides franchisers with the flexibility to customize solutions according to the needs of their franchisees. The company offers the franchise industry a broad range of services, from payment processing, mobile solutions, and cloud-based POS systems to loyalty programs. “During the initial months of the pandemic, we started seeing a huge influx of transactions through our systems because we deal with credit card processing and ACH. We have been witnessing a drastic increase in demand for electronic payments," remarks Epstein. To this end, FPN has been consulting with franchisors to help them implement their current technology in a different way such that their customers can complete POS transactions comfortably. On the other hand, the company is working with franchisors to assist them in deploying touchless payment technology, be it a mobile device for curbside payments and delivery of products or sending email or text invoices.
Putting things in perspective, Epstein explains that with the pandemic fundamentally changing the payments landscape, cash and checks have mostly disappeared into oblivion as businesses switched to electronic payment systems. As such, FPN holds one-on-one meetings with franchisors and their technology groups to understand their distinct challenges and tailor solutions that fit the bill. Franchisors that have adopted FPN’s electronic payment solutions are well-equipped to support their franchisees’ business when compared to those who are hesitant to adopt e-payment methods.
FPN’s sister company, POLN8—an all-inclusive loyalty technology company—offers robust and intelligent solutions for franchise companies, allowing smooth integrations within just about any POS platform. As a testament to their outcome-driven service in the restaurant space, Epstein explains that customers who are a part of the POLN8 loyalty program tend to spend more. Through the loyalty program, FPN implements an effective strategy to help restaurateurs turn their loyal patrons into brand advocates. With a custom, branded app, the company ties loyalty with payments to create an environment where the customer earns points and the business rewards them for visiting more often. Restaurants can even leverage the loyalty program to reward their customers for ordering food online, which is highly beneficial in the post-pandemic world. With this, restaurants can unlock an average ticket lift of 17 percent and a 50 percent increase in customer frequency.
With strategic advice on different types of electronic payment solutions, we are assisting franchise-based companies to ensure that customers can pay securely and with confidence in the current business environment
With several plans in the pipeline, FPN is working diligently to be at the forefront of delivering robust services around touchless transactions, digital currencies, and loyalty programs. In parallel, FPN is also strengthening its partnerships with software vendors. The company plans to combine the payment data at the point of sale with loyalty data (customer demographics, age, frequency of store visits, and spending behaviors at other brands they visit). With this data-rich combination, the company aims to help franchisors make the best marketing decisions for all franchisees they add to their chain in the future. All in all, FPN aims to deliver more holistic services to franchisors and, in turn, franchisees.