In an industry with margins as low as 3-5%*, an empty table is a big issue. In fact, in some major tourist cities across the world, it not unusual for up to 20% of diners to simply not turn up without cancelling their reservation. This can really impact the restaurants’ bottom line.
It’s not a new problem; no-shows are the well documented scourge of hospitality. The difference now is that technology exists that will allow restaurateurs to safeguard against the lost revenue of no-shows.
“As a business which specialises in freshly baked, hand made produce we must ensure that wastage is reduced wherever possible to ensure we can continue to offer high quality food at an affordable price. Therefore, the ability to capture customer’s card details using ResDiary and Stripe has been a great help to us. Since enabling ResDiary Guarantees for our online reservations, we have seen the number of ’no show’ reservations drop significantly to almost zero. This ensures that no food goes to waste, and that we are able to continue offering freshly prepared produce with reduced wastage costs.”
General Manager | Cup Glasgow
ResDiary has introduced a FREE facility, called ResDiary Guarantees, to securely hold your guests’ credit card details when they make a reservation. If they don’t show up, you can charge a cancellation fee as dictated by your terms and conditions.
Tokenization is the process of securely taking a customer’s credit card details and holding them as a non-sensitive equivalent, referred to as a “token”. A token has no extrinsic meaning or value, thus making it a safer option than storing the actual credit card details . You don’t have to take a payment or deposit up front; instead you can opt to hold a token as security for the reservation. If the customer does not turn up, or cancel their reservation, you have the facility to charge to the token via Stripe through your ResDiary back office.
Currently ResDiary Guarantees are supported in: Australia, Canada, Denmark, Finland, Ireland, Norway, Sweden, Belgium, France, Germany, Luxembourg, The Netherlands, Spain, Austria, Italy, United Kingdom and United States. More countries are added regularly by our provider Stripe, so please contact us if you're interested in using ResDiary Guarantees in a country not yet supported.
Stripe is the payment provider ResDiary Guarantees integrates with to offer the tokenization functionality in your diary. Stripe is a leading international payments service with a commitment to a flawless user experience and PCI compliant security. Using Stripe offers a secure and straightforward solution for online tokenization and deposits with no token charges.
Definitely. The security and risk reduction benefit of tokenization is minimized exposure of sensitive data. In turn, this reduces the risk of compromise or accidental exposure and unauthorized access to sensitive data.
There is no charge whatsover for using Resdiary Guarantees as powered by Stripe tokenization. However, There will be a small charge at agreed rates where a Stripe token is charged for a no show. ResDiary will only deduct a small transaction fee - 1% plus VAT - for any tokens actually charged. View Stripe charges.
The money will go into your account within 7 days of the transaction being processed.
You will have full access to the Stripe reporting and the full Stripe dashboard.
You can use tokenization with any ResDiary version: Intro, Express or Pro. There’s no contract or arduous sign up for a third party account. Simply activate a Stripe account from within your diary, with account details of where you wish your funds to be sent. It really is that simple.
You’ll require a clear cancellation policy for your restaurant to charge cards - to protect both your business and the customer. We’ll help you communicate this via your email notifications, and your diary terms and conditions.