Franchise Payments Network: One-stop-shop for all Electronic Payment Needs in the Franchise Industry

The COVID-19 crisis has ignited a wave of radical change in the payments landscape, bringing forth a range of new competitive requirements for businesses around the world to stay relevant. Similarly, the franchise community is also looking for ways to cope with the accelerated pace of COVID-induced transformations. Only a year ago, little did franchisors know that this unpredictable turn of events would upend the payments industry in ways never thought of before. The pressure on franchisees to meet governmental regulations and keep pace with new consumer demands has led them to promptly embrace contactless, electronic payment methods. This is where Florida-based Franchise Payments Network (FPN) is moving the needle by delivering innovative electronic payment solutions exclusively for the franchise industry. "We are the only payment processor that focuses entirely on the franchise industry. By delivering strategic advice on different types of electronic payment solutions, we are enabling franchise-based companies to ensure that customers can pay securely and with confidence in the current business environment," says Tom Epstein, CEO of FPN.

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.