Oracle Payment Cloud Service launches payment processing service for restaurants

Wednesday 29 June 2022 15:17 CET | News

American big tech Oracle has launched a new payment processing service that enables restaurants to avoid excessive costs while giving diners choice in how they pay.

The Oracle Food and Beverage Payment Cloud Service are meant to provide restaurants in the US the choice to accept various options in contactless payments, including debit/credit cards and Apple Pay, Google Pay, and Samsung Pay, without hidden fees. 

Payment Cloud Service offers fixed fee rate pricing with no long-term contract or monthly minimum requirements, according to the press release issued by the company. The service runs on Oracle Cloud Infrastructure (OCI), it has high security standards, end-to-end encryption, and is PCI/DSS compliant. Restaurants can offer their customers several payment options, while operating with predictable payment processing costs that support a better bottom line.


Payments without hidden fees 

Oracle is working with fintech platform Adyen to bring Oracle Payment Cloud Service to market with a fixed rate pricing model that enables restaurant owners to predict transaction costs, regardless of the payment method used. There are no additional service or convenience fees, and no commitment to a long-term contract or monthly minimums, the press release explains. This means businesses only pay for the services they use as their business grows.

Integrated with Oracle MICROS Simphony restaurant POS system, Payment Cloud Service gives brands a single source for hardware, software, account and financial services, and support - covering their entire range of restaurant needs. This includes help setting up menus, processing payments, and analyzing margin performance. All transactional and payment data is directly imported into a single analytics dashboard so that restaurants can forecast revenue, profits, and cash flow accurately and in real-time.

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Keywords: product launch, payment processing, cloud payments, scheme fee, payment methods
Categories: Payments & Commerce
Companies: Oracle
Countries: United States
This article is part of category

Payments & Commerce


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