Philadelphia, Pennsylvania, June 25, 2024 (GLOBE NEWSWIRE) -- A recent survey
(https://corporate.freedompay.com/whitepapers/the-security-tightrope-balancing-
innovation-and-risk-management-for-enterprise-
brands/?utm_source=pr&utm_medium=website&utm_campaign=2024-06-
Toast&utm_content=the-security-tightrope-balancing-innovation-and-risk-
management-for-enterprise-brands/) conducted by FreedomPay
(https://corporate.freedompay.com/), a global leader in Next Level Commerce(TM)
solutions, in collaboration with Toast, a leading cloud-based restaurant
management software company, has unveiled crucial insights into the top
priorities for enterprise hospitality leaders. The findings emphasize the
importance of data security, system integration, and growth enablement in
shaping merchant preferences and trust in payment solutions and point-of-sale
(POS) providers.
Key Insights from the Survey:

  * 53% of merchants face challenges in deciding where to allocate their
    technology budgets, highlighting the demand for integrated solutions that
    offer comprehensive value and support informed decision-making.
  * The biggest factors that contribute to trust in a payment solution/point of
    sale (POS) provider are the quality of customer support (49%), user-
    friendliness (46%), reliability (44%), and integration capabilities (44%).

* Almost all merchants believe data security (100%) and data privacy (98%) are

    highly important when selecting a payment solution, while most believe
    growth enablement (82%) and speed (81%) are highly important.
  * Organizations are already implementing a high level of integration between
    their payment/POS systems and other software systems. Most merchants say
    they have either fully integrated (15%) or have a very high level (70%) of
    integration between these systems. Almost all merchants (98%) place strong
    value on an integrated payment solution

"The survey with Toast highlights that integration, understanding customer
behavior, and ensuring security are paramount for merchants," said Nate Ware,
SVP Sales & Digital Development at FreedomPay. "This also shows that most
merchants are striving for a fully integrated ecosystem to drive growth and
enhance operational efficiency. At FreedomPay, we are committed to providing the
integration and security that merchants need to thrive and succeed."
Understanding customer behavior, including shopping and purchasing patterns, is
key to enhancing the customer experience and driving sales. Additionally,
merchants are prioritizing security and minimal system downtime to safeguard
operations and ensure business continuity. The availability of responsive and
reliable customer support significantly contributes to fostering a sense of
security and trust among merchants.
"The survey really underscores merchants' need for seamless integration and a
thorough understanding of customer behavior to fully enhance operational
efficiency," remarked Kelly Esten, GM of Enterprise at Toast. "For merchants,
prioritizing robust data security and reliable customer support is crucial for
fostering trust with customers."
These insights highlight that seamless integration, robust data security, and
reliable customer support are essential for merchants aiming to enhance
operational efficiency, foster trust with customers, and drive sustained
business growth in today's competitive landscape. These factors form the
cornerstone of strategic decision-making for enterprise hospitality leaders as
they align their technology investments with long-term success and customer
satisfaction.
To learn more, download the full report: The Security Tightrope: Balancing
Innovation and Risk Management for Enterprise Brands
(https://corporate.freedompay.com/whitepapers/the-security-tightrope-balancing-
innovation-and-risk-management-for-enterprise-
brands/?utm_source=pr&utm_medium=website&utm_campaign=2024-06-
Toast&utm_content=the-security-tightrope-balancing-innovation-and-risk-
management-for-enterprise-brands/)
About FreedomPay:
FreedomPay's Next Level Commerce(TM) platform transforms existing payment systems
and processes from legacy to leading edge and enables merchants to unleash the
power of pay. As the premier choice for many of the largest companies across the
globe in retail, hospitality, lodging, gaming, sports and entertainment,
foodservice, education, healthcare and financial services, FreedomPay's
technology has been purposely built to deliver rock solid performance in the
highly complex environment of global commerce.
The company maintains a world-class security environment and was one of the
first payment solution providers in North America to be validated by the PCI
Security Standards Council. FreedomPay's robust solutions across payments,
security, identity, and data analytics are available in-store, online and on-
mobile and are supported by rapid API adoption. The award winning FreedomPay
Commerce Platform operates on a single, unified technology stack across multiple
continents allowing enterprises to deliver an innovative Next Level experience
on a global scale. www.freedompay.com (http://www.freedompay.com)
About Toast:
Toast (NYSE: TOST) is a cloud-based, all-in-one digital technology platform
purpose-built for the entire restaurant community. Toast provides a
comprehensive platform of software as a service (SaaS) products and financial
technology solutions that give restaurants everything they need to run their
business across point of sale, payments, operations, digital ordering and
delivery, marketing and loyalty, and team management. We serve as the restaurant
operating system, connecting front of house and back of house operations across
service models including dine-in, takeout, delivery, catering, and retail. Toast
helps restaurants streamline operations, increase revenue, and deliver amazing
guest experiences. For more information, visit www.toasttab.com
(http://www.toasttab.com/).
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