Restaurants: Paying Without The Pain

Mobile payments have become increasingly popular in the restaurant industry over the last couple of years due to the pandemic. And while they have been embraced by consumers and restaurants alike, there are still some challenges that need to be overcome before mobile payment is widely accepted and used.

For restaurants, one of the most significant issues is accepting multiple forms of payment. With many options available, deciding which works best for your business can be difficult. In addition, there are concerns about security and cost. For consumers, one of the most significant issues is getting their payment information into a system and understanding its benefits.

The restaurant industry has been relatively slow to adopt mobile payments, but it’s catching up quickly. According to a recent study from PYMNTS.com, nearly 50 percent of restaurants now accept mobile payments, with an additional 25 percent planning to do so in the next 12 months.

Web-based mobile payments that bridge the gap between payment and loyalty are the key to creating a seamless guest experience: The customer who is halfway through their meal sees a sign on the wall indicating that they can checkout by phone and then signs up and checks out right then with minimal effort is a start to the experience. The mobile payment solution must provide a clear benefit for consumers; it should take less time for a waiter to drop off a bill, come back to get a card, and bring it back, and the icing on the cake should be seamlessly earned and redeem of loyalty rewards. Consumers have come acustom to speed of service and want mobile payments; It is up to the restaurant operator to create adoption strategies to make a habit within its consumer base.