Restaurants that don't accept bank transfers: Don't 'go backwards' in the digital age

“No transfer accepted” – lost in the conversion space

On the weekend, I wandered around the Old Quarter and stopped at a coffee shop on a street famous for coffee shops in the center of Hanoi – Hang Hanh Street. The street was bustling with people and vehicles, bustling shops, customers in shops, pedestrians on the street, both Westerners and Vietnamese…

Sitting and sipping coffee, watching the streets and the bustling business, trade and service activities on the weekend also creates a feeling of lightness and joy. But when I glanced at the facades of each store, I suddenly stopped a bit with a not-so-small sign hanging in front of a restaurant. Although some characters were obscured, the content was still clearly read: "The restaurant does not accept bank transfers, thank you"...

The sign "Restaurant does not accept bank transfers, thank you" hangs in front of a breakfast restaurant on Hang Hanh Street.

Indeed, in the digital age, the age of technology, innovation and digital transformation, a not-so-small restaurant – the owner even uses the word “restaurant” – refuses to accept payments by bank transfer and hangs a sign with such clear and distinct content, it really makes me feel that the sign is somewhat out of place in the central space of such a commercial business street.

Looking more closely, I noticed that the restaurant was selling breakfast with many delicious Hanoi dishes such as chicken sticky rice, vermicelli soup, etc. There were also a few customers having breakfast in the restaurant. Although I couldn’t see clearly, but from my observation, the vendors in the restaurant were both old and young. After more than an hour of observing, I also saw one or two cases where customers stopped their cars in front of the restaurant but then continued on…

Looking at a restaurant in the central area of ​​Hanoi - Hoan Kiem district - hanging a sign "no bank transfer accepted", I was reminded of a street food restaurant near my office, in Bac Tu Liem district. The restaurant has simple plastic tables and chairs, and the price is only 30-35 thousand VND/meal. People line up, the restaurant owner takes the rice by the portion and reports the amount, or the customer reports the price of the meal in advance... Then, the customer proactively scans the restaurant's QR code posted right on the food cabinet, in the waiting area to get the rice.

Every time a customer successfully transfers money, they hear the loudspeaker announce: “Successfully paid 35 thousand VND”; “Successfully paid 70 thousand VND”… The owner listens while picking up food – very convenient!

The story of the two restaurants above shows that: “Cashless payment” is extremely convenient and does not depend on conditions, investment costs, central, urban or rural areas. It may still be difficult for the elderly or some people who do not use mobile devices… However, currently, payment by transfer, without cash is very popular, has become a trend and is encouraged.

In the digital age, cashless payments are no longer a novelty. From e-wallets, bank transfers to QR code scanning – everything is quick and convenient with just a few taps on your phone.

The fact that some restaurants still hang signs saying “no bank transfers” is a sign of conservatism in the digital age. Of course, the disadvantage will be on the restaurant’s side…

Slow conversion… will lose customers!

Transferring money, paying with QR codes or using e-wallets is now not only convenient, but also more transparent and safer than cash. Users do not need to carry bulky wallets, avoiding the risk of losing money or receiving the wrong amount. Transactions are quick, easy to control and clearly stored.

Moreover, these methods often come with incentives: cashback, points, discounts, etc. Saving time and benefiting – it is no surprise that digital payments have become an irreversible trend.

Despite the obvious benefits, there are still restaurants that resolutely refuse to use modern payment methods. The reason? Fear of change, fear of system errors, or simply... being used to using cash.

However, this stagnation pushes them out of the modern cycle. As customers – especially young people – become more and more accustomed to “swiping cards, scanning codes”… Poor experiences make customers easily leave, or even never come back.

Not only is it inconvenient for customers, “cash only” also makes business operations lack transparency. Revenue is unclear, difficult to control, and can easily lead to fraud or tax evasion. This is the reason why authorities also encourage businesses to switch to digital transactions.

On the consumer side, they are looking for convenience and transparency in every transaction. If a restaurant remains “conservative”, the possibility of losing customers is inevitable.

Digital transformation does not stop at accepting money transfers. It is also about applying software to manage orders, order online, connect with delivery and build brands on digital platforms.

Of course, it can be challenging at first – investment costs, staff training, process changes. But if you overcome it, the long-term benefits are huge. Not only will the restaurant operate more efficiently, but it will also reach a younger, more dynamic and tech-savvy customer base.

The development of e-wallet applications, digital banking and smart consumption trends have proven that only those who are willing to innovate can survive. If a restaurant or service store still “does not accept transfers”, it means that it is actively missing out on development opportunities, or even leaving the race.

Minh Thu

Source: https://congthuong.vn/quan-an-khong-nhan-chuyen-khoan-dung-di-lui-trong-thoi-dai-so-382713.html