Mobile Payments Surge in Restaurant Industry

If your restaurant’s mobile app doesn’t feature at least one mobile payments component, it’s time to start strategizing.  According to the FastCasual.com article, mobile payment technology is “past the early adoption phase and moving quickly toward mass assumption.”  And with the merge of Zuppler, a mobile-ordering company, and LevelUp, a mobile payment network, what was regarded as an option for mobile apps is now becoming the set standard. An interviewee explains, “It allows you to take a granular look at who your guest is, what their habits are so you can have meaningful engagement with them.  It’s a missed opportunity if you’re not there.”

Mobile payments were unheard of until Starbucks pioneered the platform in 2011. According to the infographic, Mobile Payment 2015, three billion dollars were loaded on to Starbucks’s cards in 2012 and two million mobile transactions occur every week. Now, mobile payments account for 14 percent of Starbucks’ transactions.

Mobile payments are particularly helpful for fast-casual restaurants considering their business relies on taking customers’ orders as quickly as possible.  Mobile transactions allow customers to “skip”  the long lines that previously steered them away; causing the restaurant to lose sales. Now customers can save time, and restaurants can capture the “look and leave” customers’ sales.

If your mobile app is making the transition, find components that facilitate mobile payment at the point of sale, incorporating:

• NFC
• QR code presentment
• QR code scan
• Single use number
• iBeacon technology

When deciding on the best option for your mobile app the article suggests a “trial and error” approach to find the best fit. Once selected, the two major steps in implementing a successful roll-out are, “making sure your operations teams executes the process, and taking your time to get the right solution.” One restaurant mentioned in the article, tested a mobile payment platform for about six months until an unconventional solution was found.

Regardless of which platform or steps you choose, it’s extremely important to “make sure your brand character and messaging comes through to that application.” Mobile apps are a great way to connect with your customers and place you ahead of your competition.  The app should be an addition to your brand and encourage repeat engagement.

For more information on mobile payment technology, please read the full article here.